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Venezuela's Oil Crisis Essay

997 Words4 Pages

The country, Venezuela was one of the wealthiest countries of the world, but after their oil crisis the country now has been perceived as one of the most horrendous economy, leaving an abundance of Venezuelans desperate for food and dying of hunger. As vile as the country’s economy sounds, Venezuela is bountiful with culture, from their native ancestors’ culture and techniques that are still used today. Not only is the country rich with culture, but also has an abundance of alluring geography, from rainforests to beaches to deserts the country’s geography is filled with distinct features that is not found anywhere else.
Venezuela is a country with a rich culture and history. It was discovered by the Europeans during one of Christopher Columbus’ voyages to the Americas. Located in South America on the Northern Caribbean Coast it is also home to a mountain range known as the Andean mountains. Venezuela was once one of the world’s leading oil producing countries with its biggest trading partner …show more content…

Due to a variety of economic factors, Venezuelan oil prices are going down drastically. The decrease in pricing is starting to cause a financial decline in Venezuela causing civil unrest and leading to shootings, riots, arrests, and deaths. One of the country’s leading oil refineries is in severe decay due to not only oil shortage, but also lack of investments and repair resources. One of which describes it as “It’s like a slow death,” As the refinery starts to fall apart the resources are becoming scarcer.
Inflation prices are of no help for the decrease of oil pricings and increase in basic goods for the citizens of Venezuela has led to not only civil disputes but poverty. Everything costs money and with the country on the verge of financial collapse, the people of Venezuela are finding it more and more difficult to find the basic necessities to sustain their way of

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