Quote:
Originally Posted by Johnny Makarov
I don't get it but why couldn't Venezuela turn back into a decent country with those reserves? and fairly quickly.
Is the oil hard to extract there?
|
Quote:
Originally Posted by Johnny199r
You need people who know how to extract it, along with the necessary equipment to extract it.
Sounds easy in Canada, not so easy in Venezuela when everyone stopped getting paid and left and everything fell into a state of disrepair.
|
Venezuela nationalized their oil industry, driving out all foreign investment and knowledge. Then didn’t reinvest anything back into the industry and it’s pretty much fallen apart.