They're, in theory, sitting on the world's largest oil reserves. Meanwhile their production has been falling for 15 years because the government, under Chavez and now, has squandered the opportunity.
They have somewhere between $10 trillion and $30 trillion in proven oil reserves, depending on who you believe (either way it's immense). They should be one of the wealthiest countries in history, right now. That's despite the challenges around extraction and the quality of their heavy oil.
That's a great example, as well. Although it gets even worse when you realize what kind of government they're under. I mean, it's almost a dictatorship. It's all just a big pitty over another.
They're, in theory, sitting on the world's largest oil reserves. Meanwhile their production has been falling for 15 years because the government, under Chavez and now, has squandered the opportunity.
They have somewhere between $10 trillion and $30 trillion in proven oil reserves, depending on who you believe (either way it's immense). They should be one of the wealthiest countries in history, right now. That's despite the challenges around extraction and the quality of their heavy oil.