Venezuela's Oil

Venezuela's Oil (1978) explores the years of social injustice faced by oil-producing countries, leading to the founding of OPEC, and highlights the case of Venezuela as a founder member seeking a fair price for its non-renewable commodity. The book also examines the politics of the international oil business regarding Venezuela.

Format: Hardback
Length: 276 pages
Publication date: 12 October 2023
Publisher: Taylor & Francis Ltd

Venezuela's Oil (1978) delves into the decades of social injustice endured by oil-producing nations, ultimately resulting in the establishment of OPEC. As a founding member, Venezuela stands as a prime example of a young country successfully advocating for a fair price for a non-renewable resource. The struggle for Venezuela's oil is intricately intertwined with Betancourt's political career, as he explores the politics of the international oil industry concerning his own country.

In Venezuela's Oil, Betancourt examines the historical background and economic implications of oil production in the country. He highlights the struggles faced by the Venezuelan people, particularly the marginalized communities, as a result of the country's dependence on oil exports. Betancourt argues that the oil industry has been a major contributor to social inequality, poverty, and environmental degradation in Venezuela.

The book also explores the political dynamics surrounding Venezuela's oil industry. Betancourt discusses the role of foreign corporations, governments, and international institutions in shaping the country's oil policies and the distribution of profits. He criticizes the dominant economic model that has been imposed on Venezuela, which he argues has led to the exploitation of the country's resources and the enrichment of a small elite.

Betancourt also sheds light on the political career of Hugo Chávez, who was elected president of Venezuela in 1998. Chávez implemented a series of social and economic policies aimed at redistributing wealth and reducing poverty in the country. However, Betancourt argues that Chávez's policies were often undermined by the interests of the oil industry and foreign corporations.

Throughout the book, Betancourt provides a critical analysis of the international oil business and its impact on developing countries. He argues that the oil industry is a powerful force that shapes global politics and economics, and that developing countries are often marginalized and exploited by the industry. Betancourt calls for a more equitable and sustainable approach to oil production and distribution, one that prioritizes the well-being of the people and the environment.

Venezuela's Oil is a powerful and thought-provoking book that offers a comprehensive understanding of the complex relationship between oil, politics, and social justice. Betancourt's writing is accessible and engaging, making it an essential read for anyone interested in understanding the challenges faced by oil-producing countries and the global implications of the oil industry.

In conclusion, Venezuela's Oil is a must-read for anyone seeking to understand the historical, economic, and political complexities of oil production and its impact on developing countries. Betancourt's critical analysis of the international oil business provides a valuable perspective on the challenges faced by oil-producing nations and the need for a more equitable and sustainable approach to oil production and distribution.

Weight: 670g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032576725