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Just a reminder for those Trump haters accusing him of going after Venezuela because of their oil... Under the presidency of Carlos Andres Perez, Venezuela officially nationalized its oil industry on January 1st, 1976. With this move, the country assumed control of the chief supplier of foreign oil to the US as well as the largest and most sophisticated petroleum complex in Latin America. Most affected by the takeover were American subsidiaries such as Exxon Corporation, the Gulf Oil Corporation and the Mobil Oil Corporations which had at the time invested more than 5 billion dollars in the industry.[ In other words , the socialists stole our oil production facilities , as of September 11, 2025 $100 in 1976 is equivalent in purchasing power to about $569.38 today..