Venezuela's oil industry is in ruins. Reviving it won't be easy [Los Angeles Times (CA)]
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Source: Los Angeles Times
A visit to oil once-booming oil hub near Lake Maracaibo reveals a tattered infrastructure, a broken economy and former petroleum workers out of jobs. CABIMAS, Venezuela — The pumps that brought prosperity from deep in the Earth's crust are now mostly rusted relics of a storied past. The buildings that housed a prideful labor force are vandalized, colonized by squatters or boarded up The schools, clinics, the manicured golf course — onetime amenities from an industry awash in petrodollars — gone or overgrown with weeds. “Our biggest problem is depression and anxiety,” says Manuel Polanco, 74, a former petroleum engineer whose recollections of the good times only highlight a dystopian present. “We barely survive. We have just enough to feed ourselves, to get by.” This is the dismal tableau today in Venezuela's Maracaibo Basin, which, for much of the last century, was one of the globe's leading sources of petroleum. Since the U.S. attack last month and arrest of President Ni
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