Why Is Venezuela In Crisis?
Subscribe! http://bitly.com/1iLOHml Recent lower gas prices has been benefitting consumers, but why are Venezuelans suffering from the drop in oil price? Learn More: Oil cash waning,...
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You’ve probably noticed that filling up your car with gas is a lot cheaper than it was a few months ago. That’s because the price of oil has fallen, and while that’s good for the consumer, for countries like Iran, Russia and Venezuela, whose economies rely heavily on oil exports, it spells disaster. Reports suggest that Venezuela has been hit particularly hard by the oil price drop. But why? And what is the country doing to do help solve the problem? Well, with one of the largest oil reserves in the world, Venezuela relies heavily on oil exports, in fact, oil generates around 95 percent of it’s hard currency income. So, as oil prices have dropped by over half since June, the Venezuelan economy has really suffered.2 The results of which can be seen in the li...
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You’ve probably noticed that filling up your car with gas is a lot cheaper than it was a few months ago. That’s because the price of oil has fallen, and while that’s good for the consumer, for countries like Iran, Russia and Venezuela, whose economies rely heavily on oil exports, it spells disaster. Reports suggest that Venezuela has been hit particularly hard by the oil price drop. But why? And what is the country doing to do help solve the problem? Well, with one of the largest oil reserves in the world, Venezuela relies heavily on oil exports, in fact, oil generates around 95 percent of it’s hard currency income. So, as oil prices have dropped by over half since June, the Venezuelan economy has really suffered.2 The results of which can be seen in the li...
