Venezuela Needs To Rethink Oil: Luis Xavier Grisanti Says

(Energy Analytics Institute, 19.Oct.2020) — Faced with globalization and the scientific and technological revolution of the last quarter of a century, countries highly dependent on oil as the main source of income, such as Venezuela, must not only rethink rationally and effectively how to use the gigantic income derived from its exploitation, but also seek to assimilate the benefits of the technological revolution and undertake a sustainable and socially equitable development model,” announced economist Luis Xavier Grisanti in a paper titled “Venezuela And The New Energy Paradigm.”

This he said “while competing on the world stage to attract investments to diversify their economies, capitalize on human talent and enhance their hydrocarbons. Otherwise, the mono-exporting countries will continue to be afflicted by the Dutch Disease and suffer dependency and underdevelopment,” said Grisanti, who once headed Venezuela’s Hydrocarbon Association (AVHI), an Caracas-based organization that once boasted member companies from Chevron and Total to CNPC, Statoil and Rosneft.

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By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.