View Mobile Site

Drop in Venezuela investment could have impact on world’s oil supply

 BY FRANCO ORDONEZ

McClatchy Washington Bureau (TNS)

WASHINGTON – Venezuela’s oil crisis goes far beyond a simple problem of low prices and threatens the world’s supply of oil because of mismanagement of the country’s state-run oil company, a new report from Columbia University concludes.

Oil production in Venezuela – which boasts the world’s largest oil reserves – has plunged to alarmingly low levels, the report found, worsening a dire economic crisis that already has led to food and medicine shortages.

As the world price for oil declined, other oil-producing countries have increased production to make up for the lower ...


** Subscribers Log in to read this full article.

In order to view premium content, you must purchase a subscription.

Thank you for showing so much interest in our site! Our policies allow 10 free article views each month. To access additional articles including the E-Tribune, please subscribe. Already a print or online subscriber? Just log on to access additional content.

A subscription is required before viewing this article and other premium content.

Already a registered member and have a subscription?

If you have already purchased a subscription, please log in to view the full article.

Are you registered, but do not have a subscription?

If you are a registed user and would like to purchase a subscription, log in to view a list of available subscriptions.

Interested in becoming a registered member and purchasing a subscription?

Join our community today by registering for a FREE account. Once you have registered for a FREE account, click SUBSCRIBE NOW to purchase access to premium content.

Membership Benefits

  • Instant access to creating Blogs, Photo Albums, and Event listings.
  • Email alerts with the latest news.
  • Access to commenting on articles.

Please wait ...