In 2010, Venezuela signed an agreement with a Russian company as the beginning of an investment in nuclear power. However, in the light of the tsunami and nuclear disaster in Japan in 2011, Hugo Chavez has called off all nuclear power plans for the future. He said he hopes that the fear now surrounding nuclear power will actually help boost Venezuela’s oil supplies, even though his thoughts on relying on foreign oil is also something that the country needs to move away from.
What the future holds for Venezuela in terms of new energy possibilities is unknown. Hopefully, they will invest further in renewable energy.
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