TY - CHAP
T1 - The Energy Politics of Venezuela
AU - Rosales, Antulio
AU - Sánchez, Miriam
N1 - Research Unit(s) information for this publication is provided by the author(s) concerned.
PY - 2020/5/7
Y1 - 2020/5/7
N2 - Venezuela is essential for global energy politics because it has the largest oil reserves in the world. Historically the nation has been a significant producer, but from 2013 onward it became immersed in a deep crisis. This chapter discusses the transformation of Venezuela attributed to oil extraction, the complexities of the political configurations molded by rent distribution, and the changes in sociocultural features due to the permeation of oil rents. Venezuela’s dependence on oil has often been explained through the “resource curse thesis” due to its incapacity to assure the benefits of the commodity-led growth model and to invest in activities that foster long-term development. Political science scholarship, specifically, has been most concerned with the use of oil wealth to shape state and society and with the relationship between the state and the oil industry in Venezuela, especially its national oil company, PDVSA. These arguments account for a paradoxical mismatch between Venezuela’s promise as producer and its indebted and inefficient oil industry during Bolivarian Revolution, led first by Hugo Chávez and later by Nicolás Maduro.
AB - Venezuela is essential for global energy politics because it has the largest oil reserves in the world. Historically the nation has been a significant producer, but from 2013 onward it became immersed in a deep crisis. This chapter discusses the transformation of Venezuela attributed to oil extraction, the complexities of the political configurations molded by rent distribution, and the changes in sociocultural features due to the permeation of oil rents. Venezuela’s dependence on oil has often been explained through the “resource curse thesis” due to its incapacity to assure the benefits of the commodity-led growth model and to invest in activities that foster long-term development. Political science scholarship, specifically, has been most concerned with the use of oil wealth to shape state and society and with the relationship between the state and the oil industry in Venezuela, especially its national oil company, PDVSA. These arguments account for a paradoxical mismatch between Venezuela’s promise as producer and its indebted and inefficient oil industry during Bolivarian Revolution, led first by Hugo Chávez and later by Nicolás Maduro.
KW - PDVSA
KW - Venezuela
KW - Bolivarian Revolution
KW - resource curse
KW - rentier state
KW - rentier capitalism
KW - resource nationalism
UR - http://www.scopus.com/inward/record.url?scp=85094591496&partnerID=8YFLogxK
UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-85094591496&origin=recordpage
U2 - 10.1093/oxfordhb/9780190861360.013.30
DO - 10.1093/oxfordhb/9780190861360.013.30
M3 - RGC 12 - Chapter in an edited book (Author)
SN - 9780190861360
T3 - Oxford Handbook Series
SP - 645
EP - 662
BT - The Oxford Handbook of Energy Politics
A2 - Hancock, Kathleen J.
A2 - Allison, Juliann Emmons
PB - Oxford University Press
ER -