29 Jan 2019 Venezuela's self-proclaimed president, Juan Guaido, ordered Congress to change leadership at the state oil company PDVSA, following US control Petróleos de Venezuela S.A. (PDVSA), the state oil company, as crucial Analysis of the neoliberal impact on Venezuelan politics during the decline. 19 Mar 2019 Venezuela's socialist regime used the nation's state-run oil industry as a protection racket in a yearslong, systematic scheme to buy political Thanks to an oil bonanza, the government was able to spend more money (in But Venezuela is now deeply mired in political, economic, and humanitarian 30 Jan 2019 The Quick Read on Venezuela's Political Crisis. Share president Hugo Chavez , who presided over the country at a time of sky-high oil prices.
OPEC-member Venezuela is reliant on oil for 98% of its export earnings and is laboring under U.S. sanctions, which penalize Venezuela’s state-owned energy company PDVSA and any vessels or companies enabling oil shipments to Venezuela’s ally Cuba. Unrest in Caracas has weighed on markets,
7 Jan 2019 In 2011, Venezuela's net oil export revenues were more than $73 billion (in 2016 dollars). Venezuela's economic and political instability. When they did take note, both Washington and the oil industry misread Venezuela's political situation and underestimated the impact the showdown there would 25 Sep 2007 Few things happen in Venezuela that don't have to do with oil, either MEM in carrying out the crucial role of political leadership of the sector. 18 Aug 2018 Normally, ending such distorting subsidies is precisely what economists would recommend. But in a country like Venezuela it's a political gamble 24 Jan 2018 Global oil markets, international economic environments, domestic political stability, welfare distribution, and many other factors have all shown
Venezuelan Oil Minister Pérez Alfonzo was a major intellectual and political force behind the founding of OPEC, that same year. 45. Venezuela embarked on a
Venezuelan Oil Politics at the Crossroads. Record Export Revenues. Hugo Chávez took over the Presidency of Venezuela on 2 February 1999. At that time
27 Jan 2019 The ongoing turmoil in Venezuela could be a boon for Saudi Arabia and the UAE , whom eye a larger oil cartel in which Arab nations and
Using oil as an analytical lens, this book provides an in-depth look at grassroots activism and state reform taking place in Venezuela under the presidency.
19 Mar 2019 Venezuela's socialist regime used the nation's state-run oil industry as a protection racket in a yearslong, systematic scheme to buy political
The coup and the oil strike also pushed Chavez farther from the U.S. and closer to Washington’s political rivals, including Cuba and Iran. Venezuela’s oil production never fully returned to pre-strike levels of 3.3 million barrels a day. The United States on Monday sanctioned Venezuela's state-owned oil company, bringing to bear the most significant financial pressure so far on Venezuela's embattled President Nicolas Maduro. Oil became the only ticket to prosperity. It made Venezuela one of the wealthiest countries in Latin America, but also one of the most unequal. In the 1950s, when Chavez was so poor that he was kicked out of school for lack of a pair of shoes, oil wealth built lavish hotels in Caracas, and a Christian Dior boutique.
son cited for Venezuela's move to the left and its move away from democracy. Many contend that oil serves as an impediment to de- velopment for political