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Venezuela oil shock and economc catastrophe (Virginia Lopez, AL JAZEERA)
21.May.2018
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Virginia Lopez, correspondent for AL JAZEERA: Oil is Venezuela's lifeline. Ever since it was first pumped in 1914, oil has found a way of permeating every aspect of Venezuelan life. Initially it helped the backward, malaria-infested Caribbean nation out of poverty, and decades later nurtured a culture of easy wealth. And now - because Venezuela relies on oil for 95 percent of its revenue, and imports almost everything it consumes - the drop in the price of oil is challenging the government of the late Chavez's chosen successor, President Nicolas Maduro.

Read 262 times Last modified on Monday, 21 May 2018 07:31

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