Venezuelans have an uneasy relationship with oil. It is our most abundant resource, and we have the largest reserves on the planet. Yet, the mismanagement of oil has also fostered political corruption, generated unstable boom-bust economic cycles, and created a rent-seeking mentality that distorts the relationship between the people and the state.
We need an energy strategy for Venezuela’s next 50 years, rather than continuing to suffer from the mistakes of the past 50 years. By implementing a new framework for the development and use of our energy resources, we can break the cycle of dependence, mismanagement, and corruption, while fostering a new relationship of accountability between the people and their government.