Episode Details

Venezuela is home to the largest proven oil reserves in the world—around 303 billion barrels. For decades, this wealth made it a key player in the oil industry. However, a series of political upheavals and economic mismanagement over the last twenty years have led to a staggering decline in oil production. In the late 1990s, Venezuela was pumping out over 3 million barrels per day; today, that number has dropped to a mere 500,000 barrels. How did we get here? Well, the road includes nationalization, corruption, and now, intervention.

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