9 min listen
Venezuela's oil bonanza
FromWitness History
ratings:
Length:
11 minutes
Released:
Feb 25, 2019
Format:
Podcast episode
Description
Rocketing oil prices in the mid 1970s fuelled massive consumer and government spending in Venezuela, earning the South American country the nickname "Saudi" Venezuela. Buoyed by the extra revenue, the government moved to nationalise the iron and oil industries. But by the end of the decade, corruption and nepotism had set in and the economic bubble burst. Mike Lanchin hears from the former Venezuelan oil executive, Luis Giusti and the artist and photographer Frank Balbi, about their memories of those days.
(Photo by Seidel/United Archives/UIG via Getty Images)
(Photo by Seidel/United Archives/UIG via Getty Images)
Released:
Feb 25, 2019
Format:
Podcast episode
Titles in the series (100)
The Sale of London Bridge: In July of 1967 London Bridge put up for sale. American Robert P McCulloch bought it by Witness History