Will cheap oil compromise Venezuela´s revolution?

  January 10, 2009

Will cheap oil compromise Venezuela´s revolution?

Miguel Tinker Salas: Venezuela has been stashing away dollars in preparation for oil price fall
Members don't see ads. If you are a member, and you're seeing this appeal, click here


Share to Facebook Share to Twitter

I support The Real News Network because it is not entertainment...it is real news. - David Pear
Log in and tell us why you support TRNN


Miguel Tinker Salas is a professor of History and Latin American studies at Pomona College in Claremont, California. He is co-author of Venezuela: Hugo Chavez and the Decline of an Exceptional Democracy and author of Under the Shadow of the Eagles and The Enduring Legacy: Oil, Culture, and Society in Venezuela. His latest book is Venezuela: What Everyone Needs to Know.


The price of oil has dropped by over 70% in just six months, causing panic in many countries who had become dependent on high oil revenues over recent years. Miguel Tinker Salas explains to The Real News that Venezuela had planned ahead for the price drop, by stocking up on US dollars. Furthermore, most of the progress made by Chavez' government was made before the price of oil went through the roof, so they have proven capable of making progress under conditions of lower oil revenues.


Our automatic spam filter blocks comments with multiple links and multiple users using the same IP address. Please make thoughtful comments with minimal links using only one user name. If you think your comment has been mistakenly removed please email us at contact@therealnews.com

latest stories

EU-Canada Trade Doomed to Fail After Walloon Parliament Rejects CETA
Amnesty For FARC Rebels and Land Restitution Will Determine Fate of Colombian Peace Process
War Vet: Reenlistment Bonuses a Pittance Compared to the Billions Wasted in Iraq
The Story of How Intellectual Property Became Linked to Trade (3/7)
TRNN REPLAY: The Real News Town Hall Pt. 2: Should the Community Control the Police?
Breaking Through Power: Mitch Rofsky on the Responsibility of Business for Civil Engagement
President Maduro Calls on the Pope to Help Resolve Conflict with Opposition
Broken Treaties Central to the Injustice of the Dakota Access Pipeline
The Industrial Agricultural System is Limiting Food Access and Driving Climate Change
TRNN REPLAY: The Real News Town Hall: Should the Community Control the Police? Pt.1
Breaking Through Power: Wendy Fields on Movement Building
How Washington's Money-Machine Stays Ahead of Democracy
Tribes Reclaim Unceded Territories to Block Dakota Access Pipeline
Obama Holding Further Military Involvement in Syria, But Will the Next President?
TRIPS: The Story of How Intellectual Property Became Linked to Trade (2/7)
A Just Transition for Fossil Fuels Workers is Possible
Breaking Through Power: Jordan Estevao on Training for Change
The Right to Housing in Baltimore - TRNN Grand Opening
Tom Hayden on the Obama-Biden Ticket
Clinton's Strategy: Make Obama Unelectable
Prospect of US Arms Shipments to Ukraine After Elections Prompts Restarting of Peace Negotiations
TRIPS: The Story of How Intellectual Property Became Linked to Trade (1/7)
Why is the State of Maryland Defending Racist Practices of the Pocomoke police?
Elites Outraged At Trump's Refusal to Accept Election Result
Two More Land Rights Activists Assassinated in Honduras
Final Presidential Debate Accentuates Candidates' Divide on Abortion Rights
Clinton Reaffirms Commitment to No-Fly Zone in Syria
A Bloodier Battle for Mosul Might Begin After the Ouster of ISIS
Covering the Epidemic of Violence in Baltimore - TRNN Grand Opening
Justice Department Sues Pocomoke For Violating Rights of Fired Black Police Chief

TheRealNewsNetwork.com, RealNewsNetwork.com, The Real News Network, Real News Network, The Real News, Real News, Real News For Real People, IWT are trademarks and service marks of Independent World Television inc. "The Real News" is the flagship show of IWT and The Real News Network.

All original content on this site is copyright of The Real News Network. Click here for more

Problems with this site? Please let us know

Linux VPS Hosting by Star Dot Hosting