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Why Is Venezuela In Crisis?

Since Venezuela’s late president, Hugo Chavez, took office in 1999, United States’ diplomatic relations with the oil-rich country had turned tense. So what contributed to the hostile sentiment towards U.S.?

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Venezuela’s oil dependency
“Venezuela’s increasingly state-controlled industries are hobbled, leaving the country almost entirely dependent on oil exports.”

Exxon’s wrathful tiger takes on Hugo Chávez
“A dispute with Exxon adds to the troubles of Venezuela’s president and the state-owned oil behemoth on which he relies”

Exxon ‘loses’ Venezuela nationalisation case
“World’s biggest oil company receives ten per cent of what it demanded in a dispute over the planet’s ‘largest’ deposit.”

Maduro accuses US of starting oil war to ‘destroy’ Russia and Venezuela
“Maduro’s opponents have turned Coromoto into a symbol of Venezuela’s larger economic failure. They blame 15 years of socialist policies and the trampling of rights, which they charge began under Maduro’s predecessor, Hugo Chavez, for the country’s economic woes.”

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Why Is Venezuela In Crisis?

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