Crude reality. (Editor's Note).(Petroleos de Venezuela's crisis with Venezuelan...

Petroleos de Venezuela, Latin America's largest company, used to be an apolitical, state-run company. Presidents would come and go, but the US$45 billion behemoth always pumped out profits to pay the bills. Those days ended when oil workers joined opposition forces in a national strike aimed at ousting President Hugo Chavez. This month's cover story takes a hard look at the economic consequences of mixing petroleum and politics.

Crude is a contentious issue everywhere and always has been. The United States puts pressure on governments around the world to maintain a ste