Environmental Challenges of an Oil-Rent Based Economy

Abstract

This paper addresses the environmental issues taking place in Venezuela an oil rent‑ based economy and a mono producing country. This article reports on the transformations that occurred during the last ninety years since oil exploration began. The development style of a mono‑ producing country has had direct consequences in terms of the generated social and environmental impacts. But also, in terms of a number of other issues that have affected the relationship between society and nature and that has given very specific characteristics to that relationship. In consequence, the current environmental management must face a series of challenges. This paper proposes the outline of the environmental strategy that must be followed: a more challenging environmental management of oil industry; improvement of urban environmental management; sustainable management of water resources; biodiversity conservation; and sustainable development education. In conclusion it formulates some ideas that revile the most important lessons from the Venezuelan experience regarding environmental management.