The Power Of Sustain Essay

1193 words - 5 pages

Sustainability refers to the understanding of the interconnections among economy, society and environment which is applicable to a series of procedures to achieve a distribution of resources and opportunities. At present, many countries are intending to carry out this ideology to enforce a development in the ecology of the world. But nevertheless a great quantity of countries is not interested on applying these methods into their economy, as in the case of Venezuela because it is a country with many resources such as Oil.
With the arrival of the oil to the Venezuela, a different path was destined to the nation that would reshape the future of the country to become one of the largest exporters and producers of this resource. This great achievement fostered a faster development for the nation due to its increasing economic status. However the discovery of oil led to Venezuela become into a worthier country for developed nations, such as United States of America, that resulted in a great economic dominance of Venezuela by these developed nations. Thus the country also had a series of important problems that were not only related to economic side, but also to the political system. So dictatorships approached to power due to the eagerness of money, since then Venezuelan politics has experienced numerous tragic events in their history as coup d’états. In 1940s under the power of the president Isaias Medina Angarita suppressed this control of the foreign countries by promulgating the act of Hydrocarbons of 1943. This law pointed out that the foreign companies could not surpass higher revenues from the extraction and sales from oil than the Venezuelan state could make. This also led to a dependency on oil as the primary income of Venezuela’s economy. The oil industry in the world began to have a great boom in other countries especially in the Middle East too and the burden fee of imports in United States of America made an aftereffect that was a decline on the price of oil which affected the country enormously in the 1950’s. It is within this occurrence that the world’s main oil exporting countries, mostly due to the insurgency of the Venezuelan government to withstand with this problem that the decision was clear in founding an Organization for Exporting Countries with Middle Eastern countries. Also Venezuela created the Venezuelan Oil Corporation, which was initial point of the base to the nationalization of the Venezuelan oil industry. Nonetheless, OPEC did not become a strong and powerful organization until 1973 when the prices of the oil began to increase. The cause of this increment on the oil was the impediment on the Middle East oil of 1973, what made the Venezuelan government to quadruple its financial incomes. This large increment in the government income was a historical success for the Venezuela (In the same way, it would be for other countries which were part of the OPEC). It was accredited to the recent elected president, Carlos Andres...

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