Research Library

The history of the oil sector in the developing word has been characterized by cycles of investment, often followed by cycles of resource nationalism. Understanding the dynamics behind resource nationalism in Latin America is crucial for designing institutional frameworks that limit the cycles and induce long-term resource policies that foster the development of the abundant resource endowments in the region.

Fellow Francisco J. Monaldi examines the factors that led to the collapse of Venezuela’s oil industry and the impact of sanctions against the country.

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When U.S. President Barack Obama addressed the…

With a favorable market and nearly inexhaustible resource base, Venezuela has a historic opportunity to boost its oil industry. However, the industry faces serious policy hurdles, and the potential of this investment is likely to be wasted.