Pub. date: 2008 | Online Pub. Date: April 25, 2008 | DOI: 10.4135/9781412963893 | Print ISBN: 9781412958783 | Online ISBN: 9781412963893| Publisher:SAGE Publications, Inc.About this encyclopedia
VENEZUELA IS A major oil-producing state and a founding member of the Organization of Petroleum Exporting Countries (OPEC). Its leaders resist global efforts to accelerate cuts in carbon dioxide emissions, and the country's low-cost oil supply to Latin America and the Caribbean countries may stall regional transition to alternative energy sources. Venezuela has been criticized for encouraging energy inefficiency with oil subsidies, but new state environmental programs promote conservation. Venezuela has proven crude oil reserves of 80,012 million barrels, and the state-owned Petróleos de Venezuela (PDV) is one of the world s largest oil companies. Most of the nations oil exports enter the United States. PDV's subsidiary Citgo refines the ...