ECOLOGY
ENVIRONMENTAL ISSUES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The government gets about half of its money from the oil business.
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The government does not care about the damage to the environment.
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People along Lake Maracaibo are now protected by a dam to prevent flooding.
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People in Venezuela do not care about the environment as much as other people.
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Detailed explanation-1: -But after Hugo Chavez came to power in 1999, he ordered all private oil companies to merge with PDVSA and made the state institution the majority shareholder. From then on, the industry was hit by corruption, poor decision-making, problems with maintenance and aging equipment, and later financial sanctions.
Detailed explanation-2: -Political corruption, chronic shortages of food and medicine, closure of businesses, unemployment, deterioration of productivity, authoritarianism, human rights violations, gross economic mismanagement and high dependence on oil have also contributed to the worsening crisis.
Detailed explanation-3: -Years of mismanagement, corruption and nationalization of oil ventures caused Venezuela’s oil industry-which in the 1990s produced 3.2 million barrels a day-to crash by 2020, when output fell to just one-tenth of what it had been.
Detailed explanation-4: -Venezuela has the largest proven oil reserves on the planet, largely due to the country’s placement above the La Luna Formation, a Cretaceous-era formation of organic-rich source rock that is ideal for oil deposits.