The Real Effects Of Venezuela’s Coup D’etat | The Odyssey Online
Start writing a post
Politics and Activism

The Real Effects Of Venezuela’s Coup D’etat

Venezuela’s coup is historic but could throw its country further into an economic crisis and affect US oil production.

79
The Real Effects Of Venezuela’s Coup D’etat
wsj.com

Despite being a global oil giant, over the past 20 years Venezuela has been in an economic crisis--it’s government, hospitals, and schools failing. The government is failing to get food to its people. There is a lack of medicines in hospitals and pharmacies. Many of its citizens are desperate to flee to America for a better life.

Recently, the country’s government underwent a coup d’etat against opposition forces—blocking a referendum on President Nicolas Maduro, trying to remove him from power.

On Sunday the opposition MP’s, who have been desperate to remove Maduro from power, were forced to call for a resolution, which declared "the breakdown of constitutional order" and "a coup d'etat committed by the Nicolas Maduro government.”

The MP’s called upon Venezuelans to act and defend the referendum because it fell under basic constitutional rights. And in an effort to “restore democracy,” the emergency trial was called on Sunday.

The trial and the National Assembly erupted into chaos when Maduro supporters forced their way into the meeting, past security, and protested Maduro’s trail, an historic event that pushed the MPs to their breaking point.

Majority leader Julio Borges of the centre-right opposition coalition, accused Maduro of breaking the law because he did not allow a popular vote to take place. According to Al Jazeera:

"A continual coup d'etat has been perpetrated in Venezuela, culminating in the decision to rob us of a recall referendum. We're here to officially declare the regrettable and painful rupture of the constitution.”

BCC reported that two of the nine other resolutions that were voted in included an appeal to the international community for support against the Maduro government, taking the judge and council who had blocked the referendum to the International Court of Justice in Hague, Netherlands.

Opposition forces have instructed citizens in their favor to undergo peaceful mass protests across Venezuela in an effort to raise attention to the referendum and “retake Venezuela step by step.”

Because of the U.S. dependence on Venezuela’s oil, many Venezuelans and countries around the world should fear what preventing a referendum could result in. It can cause political tension and affect it’s already failing economy even more. If there’s social unrest locally, the oil giant could fail in oil-trade deals globally. Oil prices in the U.S. could surge.

According to the Wall Street Journal, Venezuela’s crude oil production has shrunk 11%. And on top of this, Venezuela already owes $16 billion to foreign creditors between now and towards the end 2017. If Venezuela’s oil production continues to decline, the U.S. will have to look to other countries for a bigger source of production.

The social impact of the coup d’etat will throw Venezuela further into an economic crisis, affect oil deals and the foreign credit; most importantly, it will fail its own people who are already trying to flee the country.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
Student Life

8 Things I Realized After My First Semester In College

Actually, Kylie Jenner, 2018 is the year of realizing things.

173
Friends

The first semester of college is famous for being one of the most difficult transitions of one's young adult life. You're thrown into a completely new area where the majority of the people surrounding you are strangers in an academic environment that's much more challenging then what you've grown accustomed to for the past twelve years. On top of that, you probably share a room with another person (or even multiple people) on the lumpiest "mattress" you've ever slept on.

With this change comes a lot of questions: what do I want to major in? What am I passionate about? Is what I'm passionate about something I'm actually good at? Why does the bathroom smell like cranberry juice and vodka? What is that thing at the bottom of the shower drain?

Keep Reading...Show less
girls with mascot
Personal Photo

College is tough, we all know. Here are 8 gifs you will 99% relate to if you are in college.

Keep Reading...Show less
Student Life

7 Things College Has Taught Me

Other than knowledge and all those important things

486
7 Things College Has Taught Me
We Know Memes

So, college is the place where you're supposed to learn all of these amazing life skills.

Here are the top seven skills I have learned thus far.

Keep Reading...Show less
college

College is some of the greatest years of anyone's life. Its a time to be outrageous, different and free; a time to do everything you were afraid to do. Here are 38 things you will learn during your four (maybe, five or six) years in college!

1. As a freshman, one does get to be called “freshman” by upperclassmen when they walk to parties in a mob of people.

Keep Reading...Show less
Adulting

6 Unrealistic Expectations Society Has For Young Adults

Don't let the thesaurus-inspired vocabularies in our résumés fool you. We're actually just big kids.

3112
boy in adult clothes

Well over four feet tall and 100 pounds in weight, many of us "young adults" of the world still consider ourselves children. Big, working, college-attending, beer-drinking children. We may live on our own, know how to cook noodles, and occasionally use a planner, but don't be fooled; the youthful tendencies that reside within us still make their way into our daily lives. From choosing to stay up until 3:00 a.m. playing video games on a school night to going out in 30 degree weather without a coat, we still make decisions that our parents and grandparents would shake their heads at in disappointment. So why are we expected to know exactly how to be a wise, professional, sensible adult? It's not that we're irresponsible (for the most part, anyway). It's that we are young, inexperienced, and still have the sought-after, enthusiastic mentality that we can do and be whatever we want, which has not yet been tarnished by the reality of the world. These are just a few of the unrealistic expectations that society has for young adults.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments