# Venezuela’s Oil, Bankruptcy and Cryptocurrency - VisualPolitik EN (YouTube video)

**URL:** <https://boards.straightdope.com/t/venezuela-s-oil-bankruptcy-and-cryptocurrency-visualpolitik-en-youtube-video/811827>\
**Category:** In My Humble Opinion\
**Created:** [April 4, 2018, 7:37pm UTC](https://boards.straightdope.com/t/venezuela-s-oil-bankruptcy-and-cryptocurrency-visualpolitik-en-youtube-video/811827 "2018-04-04T19:37:39Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![XT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/xt/32/456_2.png) [@XT](https://boards.straightdope.com/u/XT)\
**Post date:** [April 4, 2018, 7:37pm UTC](https://boards.straightdope.com/t/venezuela-s-oil-bankruptcy-and-cryptocurrency-visualpolitik-en-youtube-video/811827/1 "2018-04-04T19:37:39Z")

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Thought I’d share [this](https://www.youtube.com/watch?v=VWe7IVgHkd4) video with anyone interested. Basically, it talks about the state of Venezuela’s oil industry as well as their latest attempt to gain hard currency, the [Petro](https://en.wikipedia.org/wiki/Petro_(cryptocurrency)). Here is a short synopsis from the video page for the TL&DW crowd:

> [@](#):
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> Venezuela is undergoing some of its worst moments. This disaster is so huge, that what once was one of the largest and most powerful oil companies in the world, PDVSA, the Venezuelan oil company, is now undergoing really difficult times, and is even close to bankruptcy. And it is precisely at this difficult moment that Nicolás Maduro’s government has had its latest idea: launch its own cryptocurrency, the Petro, to try to finance itself. In this video we’ll tell you what’s happening with PDVSA, what we can do with the Petro and what the consequences are for Venezuela.