E78 El Oro Negro de Venezuela: Riqueza, Poder y Colapso

Venezuela has the largest proven oil reserves in the world, exceeding those of Saudi Arabia. In the 1970s, the country was extremely wealthy because of its oil industry and was often called “Saudi Venezuela.” After the oil industry was nationalized in 1976, the state company PDVSA, Petróleos de Venezuela, Sociedad Anónima, became one of the most powerful energy corporations in the world. However, political decisions in the early 2000s dramatically changed the industry. During a major politica...