National Economy
The population of the República Bolivariana de Venezuela (Venezuela) is approximately 28.28 million people[1]. In 2021, 100% of the people in this South American country had access to electricity[2].
In 2021, Venezuela’s economy was ranked 88th in the world in gross domestic product (GDP)[3]. The country’s economy is dependent on the export[4] of crude oil, iron, acyclic alcohols, refined petroleum, and crustaceans.
Environment Policies
In 2005, Venezuela’s President Hugo Chávez launched “Sembrando Luz,” a program to build “micro-networks” of hybrid wind and solar projects to harness the nation’s vast renewable energy resources.
In 2016, Venezuela signed the Paris Climate Agreement[5], committing to a reduction of greenhouse gas emissions of at least 20% relative to business-as-usual projections by 2030.
In 2020, Venezuela’s state-owned power companies used renewable energy (68.4 %), natural gas (21.7 %), and oil (9.9 %) to generate electricity in the country[6]. Hydropower is the dominant type of renewable energy used to generate electricity in Venezuela.
Recent renewable energy projects in Venezuela include:
- 3 MW Solar Project – In June 2021, Venezuelan Minister, Néstor Torres commissioned the first utility scale solar project into the country’s power grid.
Conclusions
Commercial oil was first discovered in Venezuela[7] in 1914 on the eastern shores of Lake Maracaibo. The crude oil exports have been an integral component of Venezuela’s economy for over one hundred years.
In 2021, crude oil exports generated over U.S. $2.6 Billion in revenue for the country. Venezuela was the 20th largest oil exporting country in the world in 2021.
Venezuela has vast undeveloped renewable energy resources, including hydropower, solar, onshore wind, offshore wined, and biomass. The country’s renewable energy resources could meet the country’s entire electricity demands.
In 2021, Venezuela had installed only 5.3 MW of photovoltaic solar capacity. The 2005 program, “Sembrando Luz” designed to harness the nation’s renewable resources has been a catastrophic failure.
Venezuela’s economy has been spiraling into an abyss due to government corruption under President Hugo Chávez and now, President Nicolás Maduro. As a result, Venezuela has done virtually nothing to reduce its greenhouse gas emissions, since signing the Paris Climate Agreement in 2016.
Venezuela Pollutes The Environment While Ignoring Its Vast Renewable Resources
Jack Kerfoot
Website – “Our Energy Conundrum”
www.jackkerfoot.com
Jack Kerfoot is a scientist, energy expert, and author of the book FUELING AMERICA, An Insider’s Journey and articles for The Hill, one of the largest independent political news sites in the United States. He has been interviewed on over 100 radio and television stations from New York City to Los Angeles on numerous energy related topics.
[1] Venezuela Population (2022) – June 24, 2022, www.worldometers.info
[2] The World Bank Group, Access to Electricity (% of Population – Venezuela
[3] Gross Domestic Product By Country 2021 – Worldometer
[4] The Observatory of Economic Complexity (OEC) – Venezuela
[5] Carbon Brief “Paris 2015: Tracking Country Climate Pledges”
[6] Our World In Data, Venezuela: Energy Country Profile by Hanna Ritchie and Max Roser
[7] Organization for Petroleum Exporting Countries (OPEC) – Venezuela