Fwd: Venzuela

'"Scarcity is getting worse in Venezuela. Basic products are so hard to get," said Josseline Viera, a doctor in Venezuela. "It used to be that certain products were scarce, now it's basically everything."…

 

The state of the Venezuelan economy is the result of years of economic mismanagement that the government, for years, was able to cover up by pumping oil revenues to its populist policies, but this was when oil was at more than $100 per barrel, and despite declining oil production in Venezuela, revenues were enough to keep people happy.

 

But since this summer, Brent fell from above $115 per barrel to $70, thanks in part to North America's shale boom, and oil analysts predict oil prices will keep declining below $70 for Brent and even more for crude.

 

One analyst at Nomura recently estimated that Venezuela may need oil prices to hit $200 a barrel in order to balance its budget.'

 

http://www.nbcnews.com/business/economy/venezuelas-future-barbarity-looting-oil-drops-n259116