Venezuela's Oil Crisis

Improved Essays
Venezuela has been a contributor to the United Nations since 1945. Due to the recent dictatorship of Nicolas Maduro, their economy has downgraded by a significant amount. Venezuela was once the richest country in the world, but now have one of the worst economies ever.

Due to the the severe dictatorship, the major oil companies in Venezuela are not producing as much oil as they should be decreasing profits by a lot. A solution to this problem is that Venezuela can substitute oil for biomass/biofuel for cars and other users of oil IN the country, but still export oil to other countries and rely on that as their main source of profit. This will increase the amount of profit the country will earn and use the oil they produce for other relying

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