President Nicolás Maduro of Venezuela denounced capitalism and the extraction of natural resources as the causes of climate change during a scorching critique at COP27 on Tuesday that made no mention of his own country’s history as an oil producer.
Venezuela’s oil reserves, the world’s largest, transformed the country and the global energy market. Now its oil sector is grinding to a halt — perhaps never to recover.
The largest oil reserves and one of the world’s most incompetent governments have brought authoritarianism, economic collapse and environmental disaster to the country.
