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PBS NewsHour
Oil-rich Venezuela suffers as global prices plummet
Falling oil prices around the world are usually considered a good thing. But for countries whose economies depend on oil exports, the price drop means impending catastrophe. Scott Tong of Marketplace recently traveled to Venezuela, where 96 percent of all export revenue comes from oil and import prices are skyrocketing. Tong joins Jeffrey Brown to discuss the country’s economic freefall.
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