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Essay text:
Currency
2.2.3. Other Sectors of the Economy & Overall Economic Growth
2.2.4. Impact on Society
3. Effects of Oil Dependence on Importing Countries
4. Solutions
1. Historical Background to Venezuela’s Oil
1.1. Before the discovery of oil
To begin with, it should be pointed out, that, before the discovery of oil in Venezuela, the country was never as important for the Spanish empire as its other colonies. Colombia was an indispensable element of the economy due to its coffee production, Peru was known to be an occupant of gold and Bolivia was of great importance because of its silver mines...
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