Venezuela was once the wealthiest nation in Latin America, its economy built on the world’s largest oil reserves. Today, it is a byword for collapse: hyperinflation, mass emigration, and a humanitarian crisis. The Story of Venezuela: Oil, Power, and Collapse traces this dizzying arc from the colonial era to the present. Lucas and Luna guide listeners through the rise of the oil industry under Juan Vicente Gómez, the dictatorship of Marcos Pérez Jiménez, the oil boom of the 1970s, and the Chavez and Maduro eras. They explore the origins of the nation’s deep inequality, the impact of Dutch disease, and the cycles of populism and repression. Key episodes cover the sinking of the USS Maine in 1898 (which involved Venezuelan waters), the 1902-03 blockade by European powers, the formation of OPEC, the Caracazo riots of 1989, the attempted coups of 1992, and the 2014-2019 protests. The show also examines the role of the military, the oil strikes of 2002-2003, and the legacy of Simón Bolívar. By weaving together economics, geopolitics, and human stories, this show offers a gripping explanation of how a nation with the world’s largest proven oil reserves ended up in ruins. No simple answers, just a deep dive into a tragedy that continues to unfold.
