With its neat rows of detached family homes, complete with grass lawns and porches, Miraflores could be mistaken for a typical American suburb. Located in the heartland of Venezuela's oil industry, on the Costa Oriental (Eastern Coast) of Venezuela's Lake Maracaibo, this quiet neighborhood once helped to make the country one of the wealthiest in Latin America. It was a symbol of national prosperity.
This used to be one of the world's most productive oil basins, and along with the city of Maracaibo, across the lake, is seen as key to President Donald Trump's plan to get U.S. firms to invest $100 billion (£75 billion) to rebuild Venezuela's energy industry. The country has the world's largest proven oil reserves, estimated at about 303 billion barrels.
But for now, the area around Lake Maracaibo stands as a stark reminder of how much the country's fortunes have declined over the decades. There are oil pumps and rigs dotted everywhere - on street corners, in surrounding fields and rising out of the lake. While a handful have been freshly painted in the yellow, blue and red of the national flag and remain operational, many others have not moved in years and are rusting and falling apart.
The decay is striking in the 20 or so American-style oil camps on the fringes of the lake - these were originally built by international companies to house their workforce when Venezuela's oil reserves were commercialized in the 1920s.
Venezuela's oil giants, such as Standard Oil of New Jersey (which later became Exxon), Chevron, and Shell, heavily invested in Maracaibo, transforming fishing villages into affluent communities with hospitals, schools, and social clubs.
In Miraflores, once home to the industry's top executives, many houses now sit abandoned and looted, their windows smashed and wiring stripped bare. Residents like Gladysmila Gil, who moved in 1968 with her late husband who worked in the oil sector, lament the stark changes over the decades. When we moved here, it was in good condition, she recalls, pointing to peeling paint and deteriorating infrastructure.
As Venezuela continues to grapple with a severe energy crisis, with blackouts reported daily and minimal waste management, the future feels uncertain for those who once thrived in the oil boom. Despite this, locals express a blend of skepticism and hope regarding the potential return of U.S. investment as discussions grow regarding the opening of the oil sector to foreign companies, indicating a potential revival of their once-flourishing community.
This used to be one of the world's most productive oil basins, and along with the city of Maracaibo, across the lake, is seen as key to President Donald Trump's plan to get U.S. firms to invest $100 billion (£75 billion) to rebuild Venezuela's energy industry. The country has the world's largest proven oil reserves, estimated at about 303 billion barrels.
But for now, the area around Lake Maracaibo stands as a stark reminder of how much the country's fortunes have declined over the decades. There are oil pumps and rigs dotted everywhere - on street corners, in surrounding fields and rising out of the lake. While a handful have been freshly painted in the yellow, blue and red of the national flag and remain operational, many others have not moved in years and are rusting and falling apart.
The decay is striking in the 20 or so American-style oil camps on the fringes of the lake - these were originally built by international companies to house their workforce when Venezuela's oil reserves were commercialized in the 1920s.
Venezuela's oil giants, such as Standard Oil of New Jersey (which later became Exxon), Chevron, and Shell, heavily invested in Maracaibo, transforming fishing villages into affluent communities with hospitals, schools, and social clubs.
In Miraflores, once home to the industry's top executives, many houses now sit abandoned and looted, their windows smashed and wiring stripped bare. Residents like Gladysmila Gil, who moved in 1968 with her late husband who worked in the oil sector, lament the stark changes over the decades. When we moved here, it was in good condition, she recalls, pointing to peeling paint and deteriorating infrastructure.
As Venezuela continues to grapple with a severe energy crisis, with blackouts reported daily and minimal waste management, the future feels uncertain for those who once thrived in the oil boom. Despite this, locals express a blend of skepticism and hope regarding the potential return of U.S. investment as discussions grow regarding the opening of the oil sector to foreign companies, indicating a potential revival of their once-flourishing community.
