Although Venezuela controls the world’s largest known oil reserves, they can’t seem to get their own energy infrastructure to run efficiently. Half-way through September 3rd, nearly 70% of the country lost power! In most parts of the world, this would be an anomaly. But in Venezuela, it simply adds to the laundry list of recent energy embarrassments. The government has already passed mandatory electricity rations and levies on energy guzzlers. What more can they do?
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The cause of the blackout was an apparent malfunction in the energy grid near Bajo Caroni, which generates roughly two-thirds of the country’s electricity. 14 of Venezuela’s 23 states experienced power outages, including the capital, Caracas. There was bumper-to-bumper traffic in the blackened streets. Subways stalled. Trains had to be evacuated.
To put it bluntly: for half of the day, Venezuela was emerged in absolute chaos! Even the country’s Energy Ministry…
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