Oil-rich Venezuela suffers as global prices plummet
Clip: 3/31/2016 | 6m 49s
For countries whose economies depend on oil exports, the price drop means catastrophe.
Falling oil prices around the world are usually considered a good thing. But for countries whose economies depend on oil exports, the price drop means impending catastrophe. Scott Tong of Marketplace recently traveled to Venezuela, where 96 percent of all export revenue comes from oil and import prices are skyrocketing. Tong joins Jeffrey Brown to discuss the country’s economic freefall.
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Major corporate funding for the PBS News Hour is provided by BDO, BNSF, Consumer Cellular, American Cruise Lines, and Raymond James. Funding for the PBS NewsHour Weekend is provided by...
Oil-rich Venezuela suffers as global prices plummet
Clip: 3/31/2016 | 6m 49s
Falling oil prices around the world are usually considered a good thing. But for countries whose economies depend on oil exports, the price drop means impending catastrophe. Scott Tong of Marketplace recently traveled to Venezuela, where 96 percent of all export revenue comes from oil and import prices are skyrocketing. Tong joins Jeffrey Brown to discuss the country’s economic freefall.
Problems playing video? | Closed Captioning Feedback
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Major corporate funding for the PBS News Hour is provided by BDO, BNSF, Consumer Cellular, American Cruise Lines, and Raymond James. Funding for the PBS NewsHour Weekend is provided by...