Bloomberg Talks Ricardo Hausmann Talks Venezuela
Jan 6, 2026
Ricardo Hausmann, a Harvard Kennedy School professor and former Venezuelan public official, shares his insights on the dire situation in Venezuela. He critiques the notion that foreign oil control can substitute for democratic legitimacy. Hausmann emphasizes the Venezuelan people's overwhelming desire for political change and the importance of democratic frameworks for oil investment. He warns against U.S. coercive tactics that may empower violent factions and highlights the need to support credible opposition leaders, like Maria Corina Machado, to restore democracy.
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Family History Shaped Venezuela View
- Ricardo Hausmann recounts his parents' Holocaust survival and migration to Venezuela, which shaped his view of the country as a haven.
- He explains that his family's success in Venezuela created his image of the country as a paradise compared with Europe.
Democracy Is A Precondition For Oil Investment
- Hausmann argues oil recovery in Venezuela is not merely technical but requires long-term property rights and democratic legitimacy.
- He insists democracy is an instrument of economic recovery, not a secondary goal after rebuilding oil production.
Venezuelan Public Backs Reformist Oil Policy
- Venezuelans voted overwhelmingly for a change and would choose a competitive legal framework to attract oil investment.
- Under the right political conditions, global oil companies would return and help engineer an oil boom.