Venezuela, Not Russia, Will Be The First Domino To Fall With The Price of Oil

The oil price collapse has brought about excited speculation that the end may be near for Putin, Iran and the American oil shale industry. While the oil price downturn will definitely stress these three players, the prime candidate for political collapse is Venezuela – with significant ramifications for the United States. And it’s likely the Obama administration is not prepared at all. Venezuela has all three factors present for an imminent political implosion: 1) severe and worsening economic distress, 2) an organized political opposition, and 3) disunity in its security services. Russia and Iran may be in tough economic straits, but the political opposition in both countries is weak and the armed forces and police are clearly under the control of the existing regime. More…