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Crude Nation: How Oil Riches Ruined Venezuela Kindle Edition
by Raúl Gallegos (Author) Format: Kindle Edition
4.3 4.3 out of 5 stars (173)
Beneath Venezuelan soil lies an ocean of crude—the world’s largest reserves—an oil patch that shaped the nature of the global energy business. Unfortunately, a dysfunctional anti-American, leftist government controls this vast resource and has used its wealth to foster voter support, ultimately wreaking economic havoc. Crude Nation reveals the ways in which this mismanagement has led to Venezuela’s economic ruin and turned the country into a cautionary tale for the world. Raúl Gallegos, a former Caracas-based oil correspondent, paints a picture both vivid and analytical of the country’s economic decline, the government’s foolhardy economic policies, and the wrecked lives of Venezuelans. Without transparency, the Venezuelan government uses oil money to subsidize life for its citizens in myriad unsustainable ways, while regulating nearly every aspect of day-to-day existence in Venezuela. This has created a paradox in which citizens can fill up the tanks of their SUVs for less than one American dollar while simultaneously enduring nationwide shortages of staples such as milk, sugar, and toilet paper. Gallegos’s insightful analysis shows how mismanagement has ruined Venezuela again and again over the past century and lays out how Venezuelans can begin to fix their country, a nation that can play an important role in the global energy industry.
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Product details
ASIN : B01KBN0HYY
Publisher : Potomac Books
Accessibility : Learn more
Publication date : 1 October 2016
Language : English
File size : 1.7 MB
Screen Reader : Supported
Enhanced typesetting : Enabled
X-Ray : Not Enabled
Word Wise : Enabled
Print length : 263 pages
ISBN-13 : 978-1612348582
Page Flip : Enabled
Best Sellers Rank: 61,267 in Kindle Store (See Top 100 in Kindle Store)3 in Oil & Energy Industry
5 in International Economics (Kindle Store)
5 in Energy Business
Customer Reviews:
4.3 4.3 out of 5 stars (173)
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Raúl Gallegos
Raúl Gallegos is Director of political risk for consulting firm Control Risks. He has been a featured columnist for Bloomberg View and Reuters Breakingviews focusing on the politics, economics and business of Latin America. For years he was the foreign oil correspondent for Dow Jones and the Wall street Journal based in Caracas. Raúl was a 2010 Knight-Bagehot fellow at the Columbia University business school. For more on the author see: http://raul-gallegos.com/about/
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4.3 out of 5 stars
4.3 out of 5
173 global ratings
From other countries
堂垣外弘忠
5.0 out of 5 stars なぜ日本人は、ベネズエラの惨状に無関心でいられるのか？「ベネズエラの惨状は明日の日本の姿なのだ！」
Reviewed in Japan on 19 April 2018
Format: HardcoverVerified Purchase
ベネズエラの経済崩壊の悲惨な現状とその背景を知るうえで、現在英語（今のところ、日本語の有用な書籍は見当たらない）で入手可能な、ほぼ唯一の書籍である。
戦争もなく、世界最大の原油埋蔵量を誇り（しかも、ほとんどが陸地＋熱帯とあって、採掘原価が安く、シェール層からは取れない、重質油を産する）、その他の鉱物資源に恵まれ、いうまでもなく、コナンドイルのロストワールドに描かれた豊かな観光資源を持ち、石油輸出国機構の創設者である天才政治家”Perez Alfonzo”を擁していた世界一豊かな発展途上国であったが、現在は、社会主義＆反米を掲げるチャベス政権を引き継いだ、より独裁的なMaduro政権のもと、悲惨な経済崩壊のため、多数の難民を作り出すこととなっている。
このような惨状になった理由は、長い歴史がかかわっている。すなわち、豊かな石油収入をばらまき、主要必需品を輸入に頼り、国民を消費と怠惰のぬるま湯漬けにしたのである。この傾向は、チャベス政権で極端にひどくなり、石油産業を国有化して無能で極端に非効率的な社会主義官僚に運営を任せ、無知な老電気技師"Jorge Giordani"に経済運営を任せたため中央銀行にめちゃくちゃにお札を発行させるたためインフレの嵐が吹き荒れる始末、石油採掘現場は荒れ放題、無理な為替管理により国内産業が荒廃し、それらのため、生活必需品が減少して、国営商店の前に長い列ができることが恒常的になっていた。そして、普通に働くよりも、列に並んで商品を入手して、それを転売する転売家業のほうがもうかるようになり、多くの国民が、仕事を辞めて、「転売屋」になる始末となっていた。そこへ、原油安が続き、ついに原価割れとなって（ちょっとだけ、まともに運営すれば、原価は大幅に下がるのに、耳を貸さないのである）、独裁政権の極度の非効率と相俟って、ついに経済崩壊に至って難民急増の結末となっているのである。
一方、どこかの先進国では、無知な首相と無能な経産省官僚が経済政策を牛耳り、お札の大量発行、主要産業の破綻、西洋覇権国家への極端な従属外交で、軍国主義復活へ突き進んでいるのである。実に背筋が寒くなる現実ではなりませんか？ベネズエラの惨状は、とても他人事とは思えませんね！明日は我が身ではなりませんか？
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P. A. Buchan
5.0 out of 5 stars Good Summary
Reviewed in the United Kingdom on 18 February 2020
Format: HardcoverVerified Purchase
I decided to read this book as i had just read Tom Bowers book "Dangerous Hero," about Jeremy Corben and Corben holds up Venezuela as a socialist model that he aspires the UK to be like and its his proof point that Socialism, AKA Marxism works. So i read the book to have a better understanding, because i had a view on Venezuela that i was prepared to admit might be wrong, as i didn't know enough.
The content is a bit dry in places, but that doesn't take away for it in the slightest. The best chapter is 3, where you get a history of Venezuela and why its in such a mess. Now the fact that the book is a bit dry in places, is good thing, because, I have no idea what Raul Gallegos, political persuasion is, but the book is written in a factual, clear and concise way. He offers no opinions, just tells you how it is. This is what people have to do, this is hard because etc etc.
A good read. The book achieved its objective. If Corben wants to make us like Venezuela, then no thank you. Apparently the country has greater oil reserves than Saudi Arabia yet you cant even buy toilet paper. But no thats not Socialisms fault its multi-nationals trying to ruin the Country.
So Jeremy if you wish to live in the Socialist idle that is Venezuela, be my guest. I like being able to go to the shop and buy toilet role.
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ALBERTO NAVARRO
5.0 out of 5 stars CRUDE NATION : HOW OIL RICHES RUINED VENEZUELA
Reviewed in the United States on 1 November 2022
Format: HardcoverVerified Purchase
THIS BOOK WAS WRITTEN IN 2016, IT IS THE SAD STORY OF 16 YEARS OF MISMANAGEMENT AND FOOLHARDY SOCIO ECONOMIC POLICIES BY THE LEFTIST AND OCHLOCRATIC GOVERNMENTS OF HUGO CHÁVEZ AND NICOLAS MADURO THAT HAVE WREAKED HAVOK IN VENEZUELA.
AS THE AUTHOR POINTED OUT THE MISUSE OF THE OIL RICHES IN VENEZUELA DID
NOT START WITH CHÁVEZ, IT WENT BACK TO
1914 WHEN OIL WAS DISCOVERED, HOWEVER IT WAS UNDER CHÁVEZ, A LEFTIST RABBLE ROUSER, THAT THE WASTE OF MONEY RAISED EXPONENTIALLY.
PDVSA (PETRÓLEOS DE VENEZUELA) TOOK
CONTROL OF THE NATIONALIZED OIL IN 1976, IT WAS A WELL AND SAVVY ADMINISTERED STATE COMPANY NOTWITHSTANDING SOME CASES OF
CORRUPTION , WHEN CHÁVEZ TOOK
POWER IN 1999 PDVSA BECAME A SORT
OF PIGGY BANK WHERE THE MONEY WAS TOTALLY WASTED IN FAILED WASTED PROJECTS INSTEAD OF USE THE OIL
REVENUES TO INVEST AND IMPROVE
THE OIL INDUSTRY, THE RESULT WAS
A TOTAL ECONOMIC AND FINANCIAL
RUIN, THE SUPPOSEDLY SHORT TERM
BENEFITS OBTAINED BY THE POOR WERE
TOTALLY WIPED OUT,AS A RESULT THEY
BECAME MUCH MORE POORER.
VENEZUELA HAS BEEN LOOTED AND
SQUANDERED BY THE CHAVISTAS, FOR
ALL THEIR LEFTIST AND ANTICAPITALIST
RHETHORIC THE CHAVISTAS HAVE SPENT
LAVISHLY IN LUXURY CARS, TRAVELS,
COSTLY HOMES NOT ONLY IN VENEZUELA
BUT IN MIAMI AND MADRID, EXPENSIVE
CLOTHES AND THE FINEST RESTAURANTS,
WHILE THE MAJORITY OF THE POPULATION,
THE SAME ONES WHO VOTED FOR THEM,
HAVE LIVED IN DIRE POVERTY.
IT SHOULD BE POINTED OUT THAT AT THE
TIME OF THE WRITING OF THE BOOK,
THERE WERE A SCARCITY OF FOOD AND
VERY LONG QEUES TO PURCHASE THE
BASIC NECESITIES, MOST OF THE SHELVES
WERE EMPTIED,NOWADAYS THERE IS NO
QEUES, BECAUSE THE STORES ARE PLENTY,
THERE IS FOOD EVERYWHERE AND THERE
IS A REVIVAL IN THE NIGHTLIFE OF CARACAS,
BESIDES THERE ARE A LOT OF SHOPPING MALLS AND RESTAURANTS, THAT IS BECAUSE
THE MADURO GOVERNMENT HAS FREED THE
ECONOMY, THE PROBLEM IS THAT EVERYTHING IS VERY EXPENSIVE OUT OF
THE REACH OF THE OVERWHELMING MAJORITY OF THE VENEZUELANS, THE
COUNTRY HAS MOVED FROM SOCIALISM
TO WILD CAPITALISM,RESEMBLING RUSSIA
DURING THE YELTSIN YEARS.
THERE IS A PHRASE COINED NOWADAYS,
"VENEZUELA SE ARREGLÓ" (VENEZUELA IS FIXED), THIS IS VERY FAR FROM THE TRUTH,
I WOULD RATHER SAID IS LESS WORSE THAN
FIVE YEARS AGO.
이 책은 2016년에 출간되었으며, 우고 차베스와 니콜라스 마두로의 좌파 관료주의 정부가 16년간 시행한 잘못된 통치와 무모한 사회경제 정책으로 베네수엘라가 얼마나 파탄에 이르렀는지에 대한 슬픈 이야기를 담고 있습니다. 저자가 지적했듯이 베네수엘라의 석유 자원 남용은 차베스 시대에 시작된 것이 아니라 석유가 발견된 1914년으로 거슬러 올라갑니다. 그러나 좌파 선동가였던 차베스 치하에서 이러한 낭비는 기하급수적으로 증가했습니다. 베네수엘라 국영 석유회사 PDVSA(PETRÓLEOS DE VENEZUELA)는 1976년 국유 석유 사업을 인수했습니다. 일부 부패 사례에도 불구하고 PDVSA는 비교적 효율적으로 운영되는 국영 기업이었습니다. 그러나 1999년 차베스가 집권하면서 PDVSA는 마치 개인 저금통처럼 변질되어 석유 수익을 석유 산업 투자 및 개선에 사용하는 대신 실패한 사업에 낭비했습니다. 그 결과 경제와 재정은 완전히 파탄에 이르렀고, 서민들이 단기적으로 얻을 수 있었던 혜택은 모두 사라졌습니다. 결과적으로 서민들은 훨씬 더 큰 고통을 겪게 되었습니다. 더욱 가난해졌습니다.
베네수엘라는 차비스타 정권에 의해 약탈당하고 낭비되었습니다. 그들의 모든 좌파적이고 반자본주의적인 수사에도 불구하고, 차비스타들은 고급 자동차, 여행, 베네수엘라뿐 아니라 마이애미와 마드리드에 있는 값비싼 집, 고가의 옷, 최고급 레스토랑에 사치스럽게 돈을 썼습니다. 반면 대다수 국민, 바로 그들에게 투표했던 사람들은 극심한 가난 속에서 살아가고 있습니다.
이 책이 쓰여질 당시에는 식량이 부족하고 생필품을 사기 위해 긴 줄을 서야 했으며, 대부분의 진열대가 텅 비어 있었다는 점을 지적해야 합니다. 오늘날에는 상점이 많아지고 음식이 풍부해져서 줄을 서지 않아도 되고, 카라카스의 밤문화도 부활했으며, 쇼핑몰과 레스토랑도 많이 생겼습니다. 이는 마두로 정부가 경제를 자유화했기 때문입니다. 문제는 모든 것이 너무 비싸서 대다수 베네수엘라 국민들이 감당하기 어렵다는 것입니다. 베네수엘라는 사회주의에서 무분별한 자본주의로 변모하여 옐친 시대의 러시아를 닮아가고 있습니다. 요즘 "베네수엘라는 고쳐졌다(VENEZUELA SE ARREGLÓ)"라는 말이 있는데, 이는 사실과 거리가 멀고, 오히려 5년 전보다는 나아졌다고 말하는 것이 더 정확할 것입니다.
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Marián Quevedo
5.0 out of 5 stars Well done! Excellent present and reading!
Reviewed in Spain on 31 March 2025
Format: HardcoverVerified Purchase
No waste
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Cédric B.
5.0 out of 5 stars Très bon livre pour avoir des idées pour se préparer à un chaos
Reviewed in France on 14 May 2021
Format: PaperbackVerified Purchase
Très bon livre qui illustre:
- Comment un gouvernement communiste où tout devient interdit détruit complètement l'économie puis le pays, puis permet l'installation de la corruption, insécurité et pauvreté extrême.
- Face à la destruction, les communistes trouvent toujours un nouveau coupable…et tentent de mettre toujours plus d'interdictions.
- Comment les gens font pour survivre dans un pays en chaos.
Ainsi, si un mr Mélanchon ou autre président fou devrait être élu, avoir lu ce livre aidera à définir une stratégie de vie pour s'en sortir.
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alex lindsay
4.0 out of 5 stars Decent book, not much about oil
Reviewed in Canada on 14 December 2023
Format: PaperbackVerified Purchase
Pretty solid study on how people respond to hyperinflation as well as corruption. Not much about oil.
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Khaled Jhail
3.0 out of 5 stars Very Critical Book
Reviewed in the United Kingdom on 21 August 2019
Format: HardcoverVerified Purchase
The book is well supported with facts and accurate figures in turn giving a glimpse of life in Venezuela, as well as a basic general history in relation to its economic situation. The writer mentions notable and important figures, their actions, and effects on Venezuela in general. However it is important to note that I find the writer a bit bias in the sense that he points out all the faults on the Venezuelan government without mentioning in detail the other side (international community & oil companies) and how they too are involved in the financial turmoil of Venezuela. This is a book with a strong bias towards American perspective.
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cindye
4.0 out of 5 stars Recommend
Reviewed in the United States on 1 August 2020
Format: KindleVerified Purchase
Recommend if you want to better understand what went wrong in Venezuela and the historical context of how the people think/thought/act. Enjoyed, recommend.
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Novaktomo
5.0 out of 5 stars Superbly written, shockingly true...
Reviewed in France on 15 February 2022
Format: PaperbackVerified Purchase
A nice mix of history telling and sharing first person experiences.
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SIROCCO
5.0 out of 5 stars A great analysis of a tragic history
Reviewed in the United States on 19 December 2016
Format: HardcoverVerified Purchase
Having spent a summer in Venezuela during the late 1950, I was interested in its current state of affairs. This book nails it. It is well written and documented. What a sorry condition Venezuela as sunk to. All done with a wealth of natural resources. This is a must read for anyone interested in how political mismanagement can ruin a nation.
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- Neal LeslieReviewed in the United States on 16 October 2019
Informative but a little on the dull side
I found this book to be informative but exceedingly dull. Mercifully it was fairly short...just shy of a couple of hundred pages.
Venezuela is a country whose economy has been turned upside down because of oil. During the Great Depression, while most economies were suffering, Venezuela was experiencing a boom which led to the bolivar actually being worth more than the dollar. The end result was that it was cheaper for Venezuelans to import their products than manufacture. Over time there was a migration from the countryside to the city as Venezuelans gave up their agrarian economy in favor of one based on oil. Unlike other countries like Norway that set aside some of their oil revenue for harsher times, Venezuela's constant theme was (and is) spend, spend. Irresponsible economic policies have also exacerbated the situation: Using the central bank as a slush fund; price controls for basic necessities that have created a black market in neighboring countries; having 3 different exchange rates for the dollar. The list goes on and on. Their state oil company PDVSA remains unprofitable because it also serves as a bank account for the president's social programs
Raul Gallegos calls their governance "Mango Management," named after an incident in which a woman threw a mango at Maduro with a note attached wanting a free house (which she got). The Venezuela government careens from one crisis to the next as if being hit in the head with a mango with no long-term policy to address the underlying problems.
Raul Gallegos does a good job in presenting the facts without too much partisanship. Venezuela has become such a talking point on the right for an example of the failure of socialism. Venezuela's problems long predate Hugo Chavez. They found oil in 1914 and haven't yet understood basic economic principles on when to spend and when to save or how to diversify their economy to be less dependent on oil. Bad policies are bad policies. Whether you want to label them as socialism or just plain bad. - AlexReviewed in the United States on 3 April 2019
Summary of what happened to Venezuela
Very engaging book that alternates between the academic and the reality of the people living there. It keeps you entertained while you absorb troves of information. It's a history lesson about how free and easy it's never appreciated and can and will be a curse. - Scott&TamaraReviewed in the United States on 1 September 2017
Good book
Great explanation of the inexplicable! What a sad commentary for a country with such immense resources to be in such poor economic circumstances, and no real identifiable cure in sight. - Garett DuncanReviewed in the United States on 31 March 2018
Excellent book about how Venezuela got into its current predicament
Very insightful book about Venezuela, it’s people, and how the country has struggled with its oil wealth. One would think all that oil would be a blessing, but it’s actually a curse. - jose chalhoubReviewed in the United States on 8 November 2016
Great recount of current state of affairs in Venezuela thumbs up!
Excellent book very detailed and anecdotic of the current problems faced by the largest oil reserve in the word Venezuela. Higly recommended very amenable to read! - leonard boltonReviewed in the United States on 18 April 2019
Oil and Socialism don't mix well
If you like figures and commercial anecdotes this is the book for you with it's relentless examples of how economic policy (if that's what you could call Chavez's farcical and tragic foray into a subject he clearly knew nothing about) has direct results (which giveaway socialists focus on) and indirect results, which they are ignorant of and tend to explain away in self-congratulatory ways. Example -- many things became unavailable in Hugo's paradise one of them being simple toilet paper. The socialist excuse ? -- the people are just eating more because of Chavez so they're doing more of the other and thus need more TP.
The book is left-brain dry and lacks drama -- the style is factual reporting more than interesting reading but if you want the facts a lot of them are here. - Douglas S. SaabReviewed in the United States on 16 February 2019
Basic introduction to Venezuelan crisis
The research for this book is mostly anecdotal, the author went to Venezuela to have a good time and it comes through that he did, not much academic value. - jaroslav p.mikusReviewed in the United States on 7 December 2016
Four Stars
Bit expensive - Robert A. StringerReviewed in the United States on 13 March 2019
Interesting book
Interesting, but now it’s outdated - martha johnsonReviewed in the United States on 7 August 2017
good read!
Quite informative; good read!! Recommend to anyone interested in current world situations. - MayhellitaCReviewed in the United States on 25 February 2018
Great to understand Venezuela's reality.
I bought this as a gift and it was great!!!! - Amazon CustomerReviewed in the United States on 28 April 2017
Five Stars
Great source of information relating to Venezuela history, politics
and corruption. - Charlene JackensReviewed in the United States on 3 January 2019
Very informative
Great book to understanding Venezuela problems - Jen KReviewed in the United States on 11 August 2018
Informational
Great book, informational and well written. - JudyReviewed in the United States on 20 December 2018
Interesting book.
Good read!
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