As oil output plummeted, so did revenue. And as conditions worsened and the government turned more oppressive, international sanctions followed, further isolating the industry.
Once one of the world’s richest oil producers, Venezuela’s rise seemed unstoppable. We look at how politics, power struggles and global pressure led to the complete breakdown of this South American country. As the consequences still unfold, will Venezuela and its oil industry make a comeback in this globally unstable environment?
Guests:
- Skip York, nonresident fellow for global oil, The Baker Institute for Public Policy, Rice University.
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