[lbo-talk] Is Venezuela's oil boom set to bust?

uvj at vsnl.com uvj at vsnl.com
Wed Nov 5 13:27:53 PST 2008


Tuesday, 28 October 2008

Is Venezuela's oil boom set to bust? http://news.bbc.co.uk/2/hi/americas/7694757.stm

By James Painter BBC Latin America analyst

The dizzying collapse in oil prices has started a heated debate in Venezuela about the possible effect on its oil-dependent economy - and the political future of left-wing President Hugo Chavez.

Venezuela is particularly vulnerable to oil prices. It is the Western hemisphere's largest oil exporter. More than 90% of its export revenue and more than half of the government's annual expenditure comes from oil. http://news.bbc.co.uk/2/hi/americas/7694757.stm



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