![Venezuela’s crisis: who to blame?](https://www.eluniversal.com.mx/resizer/v2/WWJAQYFX2ZDZ3ORHTEQTSI2XBM.jpg?auth=09b40be799b3a65a9f09766e7c4f12fba1529902f2a278f9b295a2ef51121b5b&smart=true&width=370&height=267)
Venezuela’s crisis: who to blame?
Despite having the world’s largest proven oil reserves, Venezuela is undergoing a severe political, economic, and social crisis. The proximate cause is clear: oil prices fell by 70% in 2014. But the underlying problems are longstanding and policy-related.