Venezuela in Chaos as Oil Prices Collapse

As the price of crude oil has collapsed in recent weeks, Americans have celebrated as the price of gasoline followed suit. But in Venezuela, where oil is the country’s economic lifeblood, the collapse is pushing a country already on shaky ground to the edge of default. In Venezuela, long lines for even the most basic products like toilet paper, toothpaste, soap, and even food. All of the goods continue to be scarce as Venezuela’s economy collapsed as the price of oil plummeted over the last year and the consumers, especially poor consumers, are becoming desperate. More….