Is Venezuela making the same mistake with mining as it has with petroleum?

IMG_0586

Across the globe, countries with massive oil reserves are often poor, corrupt and inefficient, relying almost exclusively on petroleum, instead of investing in other industries. When prices are high, money abounds, but when prices fall, the economy often spirals into disaster.

Read my article for Newsweek.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s