Book Forum

Crude Nation: How Oil Riches Ruined Venezuela

(Potomac Books, 2016)
Watch the Event
Date and Time
October 24, 2017 4 - 5:30 PM EDT
Hayek Auditorium, Cato Institute
Featuring the author, Raúl Gallegos, Associate Director, Control Risks; with comments by Gustavo Coronel, Former Member, Board of Directors, Petróleos de Venezuela (PDVSA); moderated by Juan Carlos Hidalgo, Policy Analyst, Latin America, Center for Global Liberty and Prosperity, Cato Institute.

In the past decade and a half, the government of Venezuela received over $1 trillion in oil revenues, and yet the country is now suffering from a deep humanitarian crisis with its population struggling to feed itself. As a correspondent for Dow Jones and the Wall Street Journal, Raúl Gallegos witnessed first‐​hand how the mismanagement of oil riches during the rule of Hugo Chávez led to Venezuela’s current misery. Gallegos will explain how mismanaged oil has created perverse incentives in the political system, the business community, and among ordinary Venezuelans. Gustavo Coronel offers his insights on what should be the future of the oil sector in a democratic Venezuela.