Venezuela’s oil future a ‘shambles’ after Chavez

Originally posted on Business 360:

[cnn-video url=http://edition.cnn.com/video/#/video/bestoftv/2013/03/06/exp-defterios-interview-fesharaki.cnn]

(CNN) – Venezuela’s Hugo Chavez, who died this week, built his support on a populist platform of sharing the country’s oil wealth with the poor.

Yet Venezuela’s economy, and the future of its oil industry, remains deeply vulnerable.

CNN’s John Defterios talks with Fereidun Fesharaki, the chairman of FACTS Global Energy, who says the country’s oil industry is in a “shambles.” So what challenges a new leader face?

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