Venezuela has been facing political deadlock since its controversial President Maduro first came to power in 2013 following the death of his predecessor Chávez. International media reports have highlighted the crisis by pointing to the country’s hyperinflation, government pressure and shortages of food and medicine. These have indeed had a devastating effect on the country’s population, and since 2015, an estimated 4 million people have fled the country. Rebecca Bertram reports What has sustained the regime to this date, however has been the country’s energy wealth. Venezuela has the largest proven oil reserves and the eighth largest natural gas reserves in the world. Yet despite this, a severe electricity crisis with regular power cuts persists that paralyze the daily life of most Venezuelans. Such cuts have occurred increasingly since 2010, and in March 2019, almost all of Venezuela was hit for almost a week by the biggest power outage in the country’s history. The government has responded by imposing rationing plans which can last up to 12 hours per day. Venezuela’s economy lies in shambles. … Continue reading Bleak prospects for an energy giant