The oil plunges and Maduro’s future plunges with it

The falling of the oil prices combined with US green light to oil companies to export crude oil are going to create a further economic crisis for countries like Venezuela that primarily depends on oil production.

In 2013, Venezuela ranked as one of the countries with the highest misery, not only on the economic part but also on personal security matters.

The appropriation of businesses by the Chavez regime forced many companies to close down or stop production completely which has devastated the country’s economy, forcing his follower Nicolas Maduro to further devaluate the currency due to growing shortages of food and other basic goods in the country.

According with a BBC report the Venezuelan annual inflation roused  to 63%  in  2014 and 2015  brings even a bleaker picture, transforming Venezuela into the perfect backdrop for a booming black market.

The drop of the oil prices is in my view the last step needed for the collapsing of the authoritarian and inefficient Maduro regime, leaving a once rich and prosperous country like Venezuela into an economic devastation.