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    [OC] Venezuela HDI vs Oil Prices 1990-2026
    Data

    [OC] Venezuela HDI vs Oil Prices 1990-2026


    Data Sources: UN HDI, Oilprice. com

    https://x.com/i/status/2007558319771357228

    -Venezuela’s Human Development Index (HDI) closely tracked oil prices for decades. When oil rose, living standards improved. When oil collapsed, so did HDI.

    -Venezuela relied on oil for ~95% of export revenues and most public spending. This made the economy and social outcomes extremely vulnerable to price shocks.

    -HDI steadily increased from the 1990s and peaked around 0.77 in 2013, at the height of the oil boom.

    -Nicolás Maduro came to power in 2013 just before oil prices crashed.

    -Oil fell from $100+ in 2014 to around $30 by 2016. Revenue collapsed. The economy followed.

    -By 2020–2022, Venezuela’s HDI had fallen to around 0.69, erasing years of human development gains.

    -This wasn’t just political failure. It was structural dependence on oil meeting a historic price shock with no buffers.

    Posted by Accomplished_Gur4368

    View 8 Comments

    8 Comments

    3. double_teel_green on

      Now that the US controls the Venezuela government things are about to improve for the billionaire class

    4. Whiskersnfloof on

      This is a lesson in that a functioning nation requires diversity in its exports, including energy. The fact that the US is doubling down on petroleum production over diversification of renewables is very very risky in the long run because our government and economy become more tied to the boom-bust cycles of the industry.

    5. Hungry_Bet7216 on

      Oil prices are global so Venezuelan HDI is reflecting the effects of global prices, nit the cause. Arguably the fracking boom in the US as well as OPEC production (of which Venezuela was a founding member) had a significant impact. What is true is that chronic dependence on oil exports cooupled with excessive intervention of free market economics meant that if oil prices coughed, Venezuela got the flu.

    6. JustAnotherSpaceMonk on

      Man reddit is getting flooded with this kind of shit.

      Seem like an attempt at mass justification of the USAs illegal actions once again.
      The new WMD?

    8. motorbit on

      who have thought. if you impose illegal sanctions on a country, even denying them medical supplies, human development index drops.

      damn kommies!!!

      serious: this is a great example of when data is not beautiful. its not beautiful to leave out half the data and then draw a conclusion. thats the definition of missinformation.