Venezuela’s National Assembly Snubs Maduro, Rips Oil Control Resolution

Julio Borges, the head of Venezuela’s National Assembly, ripped up a resolution on Thursday that would have allowed President Nicolas Maduro to approve oil ventures without congressional oversight. The resolution had been designed to increase foreign investment in the country’s struggling oil industry. The last 2.5 years of low oil prices have slashed government revenues, causing mass shortages of day-to-day products and medical supplies, all of which were imported using energy profits in the past. Now even gasoline is running low in…
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