Running out of Gas

In the article, "Oil Cash Waning, Venezuelan Shelves Lie Bare", the author reviews the oil crisis in Venezuela and the current crisis in economic and social affairs plaguing its citizens.  The article begins with a case study, describing the absolute despotism one family experiences while shopping for groceries  Venezuela is currently a welfare state, conceived by the socialist revolution started by Hugo Chavez; the current president, Nicolas Madura vowed to maintain the movement inspired by Chaves, but his efforts are equally if not more forcefully, matched by the economic setbacks caused by oil price deflation.  As long as the price of oil drops, the shortages of food and long lines for welfare handouts will continue to get worse, as Venezuela's economy is very dependent on oil prices (as more than 95% of its hard currency income comes from oil).  The price per barrel has dropped from $96 to $38, a dip that is expected to drop in the coming months.  It seems that the country with the world's largest estimated petroleum reserves is running out of fuel for its own citizens. -Kaytlin St.Clair