The Story of Venezuela: Oil, Power, and Collapse — Fexingo History
On January 1, 1976, Venezuela nationalized its oil industry, celebrating sovereignty over a resource that had been foreign-controlled for decades. But behind the patriotic speeches lay a flawed deal that handed immense power to a state company—PDVSA—without the institutional capacity to manage it wisely. In this episode, Lucas and Luna explore how President Carlos Andrés Pérez orchestrated the takeover, the secret negotiations with Exxon and Shell, the creation of PDVSA as an 'island of efficiency,' and the seeds of corruption and dependency that would bloom decades later. We look at the role of the Venezuelan oil workers' union, the international context of OPEC's rise, and the quiet dissent of economists who warned that nationalization without diversification was a trap. A crucial chapter in how oil wealth became a curse. #Venezuela #OilNationalization #PDVSA #CarlosAndresPerez #OPEC #1976 #Exxon #Shell #LeyDeHidrocarburos #StateOilCompany #ResourceCurse #SembrandoElPetroleo #ViernesNegro #FexingoHistory #History #SouthAmerica #EnergyPolitics #PetroState Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]
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