Venezuela's Economy Today: Difference between revisions
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*Venezuela is the fifth largest oil exporting country in the world, with the largest reserves of conventional oil (light and heavy crude) in the western hemisphere and the largest reserves of non-conventional oil (extra-heavy crude) in the world. | *Venezuela is the fifth largest oil exporting country in the world, with the largest reserves of conventional oil (light and heavy crude) in the western hemisphere and the largest reserves of non-conventional oil (extra-heavy crude) in the world. | ||
*Oil production currently accounts for 16% of Venezuela's GDP. | *Oil production currently accounts for 16% of Venezuela's GDP. | ||
[[Image:VE_Proven_Crude_Oil_Reserves.png|thumb|Description]] | |||
[[Petroleum Industry]] | [[Petroleum Industry]] | ||
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[[Image:Oilprice1947.gif|thumb|Description]] | [[Image:Oilprice1947.gif|thumb|Description]] | ||
<center>[[econ267s|History and Venezuela's BOOM!]] | [[Venezuela's Economy Today]] | [[Future Outlook]]</center> | <center>[[econ267s|History and Venezuela's BOOM!]] | [[Venezuela's Economy Today]] | [[Future Outlook]]</center> | ||
Revision as of 04:13, 2 May 2006
The world will have to get used to a barrel of oil priced above 50 dollars, ... It will be difficult to increase production. Hugo Chavez
Today's Petroleum Industry
- Venezuela's growth experience over the past fifty years is characterized by a high economic growth rate from 1950 to 1970 and a low economic
growth rate in the last thirty years.
Current Statistics:
- Venezuela is the fifth largest oil exporting country in the world, with the largest reserves of conventional oil (light and heavy crude) in the western hemisphere and the largest reserves of non-conventional oil (extra-heavy crude) in the world.
- Oil production currently accounts for 16% of Venezuela's GDP.
File:VE Proven Crude Oil Reserves.png
