At one point, Venezuela’s oil reserves brought economic prosperity to the South American country, but that’s no longer the case.
Professor Patrick Iber, director of Undergraduate Studies at UW-Madison and author and historian of 20th century Latin America and U.S. foreign relations, spoke about the situation in Venezuela.
In early January, Venezuela President Nicolás Maduro was captured by U.S. Forces, a turn of events Patrick called “extraordinary” before relating some background.
U.S. relations with the Latin American country had been difficult for years, he said, as Venezuela vacillated between a U.S. ally and an antagonist.
He noted that while Venezuela has the largest oil reserve in the world, it is crude oil and the refining process is difficult. In the late 1960s and 1970s, its reserves led to economic wealth but the country failed to diversify its economy and later, that wealth dissipated.
Chavez was popular with the Venezuelan poor and ruled in an autocratic manner, aligned with Fidel Castro, but Chavez died in 2013 before the elder statesman.
When Maduro took office, oil prices were down and the economy plummeted. Many citizens – between a quarter to a third of the population – left Venezuela for neighboring countries.
Patrick shared that he was in Chile when Maduro was captured and brought to New York to await trial, Venezuelans there were "parading with delight,” he said.
The situation now is interesting, as Trump has kept the Maduro regime in place for the sake of stability and is calling for more investment in its oil industry. But large corporations are wary of investing in a country they see as unstable.
Meanwhile, for Venezuelans, the future remains uncertain.
“Venezuelans are worried about how they will get to a democracy and are wary of the Trump administration who is now claiming to be in charge of the country,” the professor said.
He added that part of the reason for targeting Venezuela was to see a domino effect in Cuba, which now faces extreme poverty.
Patrick said he is watching to see how a democracy can be achieved in both countries.
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Other news:
Bartenders are still needed for Wauktoberfest. Contact Ken Pesik if you can help.
Food for Kidz has one more spot open for the Rotary shifts.
The gathering at Bishops Bay is Oct. 6.
Rotarians are working on selling ads for the Rotary in Lights magazine and this will be pivotal week, Jennifer Tasker said.
The Rotary Board of Directors approved $2,000 to contribute to the Interact Club’s well project in Africa.
A group of Rotarians had fun picking up 350 pumpkins for Wauktoberfest.
Coming Up
Sept. 11-13: Wauktoberfest.
Sept. 18: WNC Harvest of Hope Gala with barbecue brisket, live blues and dancing.
Sept. 23: Chamber Golf Classic
Oct. 11: Food for Kidz
Nov. 22-Jan. 1: Rotary Lights
Greeters: Sept. 17, Alex Welk and Kyla Jensen, Sept. 24, David Rupp and Phil Willems; Oct. 1 ???; Oct. 8, Sally Gile and Ken Ballweg; Oct. 15, Shelley Moffett and David May; Oct. 22, David Rupp and ???
To sign up to greet or to find out when you are greeting, visit:
https://www.signupgenius.com/go/805054CAAAA2CA7F85-44320149-2023#/
