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Venezuela's Oil Hub Crumbles Amid Job Crisis and Skepticism

2/15/2026

33 7 Full Breakdown

Summary

Story summary

The Maracaibo Basin in Venezuela has fallen from a thriving oil hub to severe decline due to rusted infrastructure and nonfunctional wells.
Residents such as Manuel Polanco express despair as many former oil workers struggle to find stable jobs.
U.S. plans to revive the oil sector under U.S. President Donald Trump have met skepticism, as experts warn restoration could take decades and require significant investment.

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Story summary

The Maracaibo Basin in Venezuela has fallen from a thriving oil hub to severe decline due to rusted infrastructure and nonfunctional wells.
Residents such as Manuel Polanco express despair as many former oil workers struggle to find stable jobs.
U.S. plans to revive the oil sector under U.S. President Donald Trump have met skepticism, as experts warn restoration could take decades and require significant investment.