Why are they suffering in poverty while they have so much oil?

Why are they suffering in poverty while they have so much oil?

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money.cnn.com/2016/02/03/news/economy/venezuela-imports-american-oil/
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because they're retarded

Socialism.

Socialism.

Something to do with Kissinger I think.

Ding Ding Ding.

Their last ruler, Chavez, spent all their money on gibs and other retarded shit and never invested in the future via infrastructure reform (including in the oil industry) etc etc.

Being a socialist government just made shit even worse, and was probably even the reason that they chose such a retarded path in the first place.

Americans kept them lock down. Now that no one is financing the criminals they might get a chance at freedom.

It's harder to get to than Saudi Arabia's.

Because you didn't pay debnts

/thread

If natural resources meant being a wealthy country then the two richest would be Venezuela and Sierra leone

This too, and a large part of that is because they were socialists. The other part of the reasoning is that America have been fucking cunts for decades, in regards to meddling in other countries affairs.

I really hope, and kind of believe, that Trump's nationalistic view extends to allowing other countries have their own sovereignty and not fucking them in the arse overtly or covertly.

They literally cannot afford to export it

trump is a straight shooter
if he wants to fuck over a country he will say so
look at china and mexico

...

>muh socialism

While socialism is retarded, USA's retarded foreign policy led to this.

Venezuela is nearer to USA than Saudi Arabia, why not import the oil from there? Because of USA's retarded foreign policy and licking Israel's ass, they have to import oil from the Middle East, putting Venezuela in crisis.

>wahh why wont they buy my shitty oil

>USA's retarded foreign policy
How can you guys argue this? Sup Forums utterly btfo

Their oil is crappy. It's not the same quality of the one the Gulf States have

this also they are retarded for not putting enough money in its oil extraction and infrasructure

>Our socialism totally would work if it was established under a totally different geopolitical situation
Lol, but that didn't happen and didn't look like it would happen, and they still fucked it up anyways. All the oil in the world wouldn't help if they're too retarded to actually use it to their advantage, which they've proven to be.

There are like 900 saudi princes. Too many chiefs and not enough indians. Their own personal peak oil has come and gone. Who will pay the A/C bill for the 10000 square feet bouncy castle theme restaurant?

What? we're their biggest importer

Venezuela has the lowest-quality, highest-sulfur oil in the world, and no good refineries in their country. The only country with refineries good enough to economically refine it are in the US.

Also, because of their anti-US stance and refusal to trade in dollars for oil, they end up selling most of their oil to China and other trading partners, who then sell it to the US to refine.

Also the US completely uses the Petrodollar, being reserve currency, the IMF and other financial institutions to completely fuck over any country not willing to use the dollar as their standard currency for oil, trade etc. That's why Iraq was invaded, why Gaddafi was toppled, there's a long list of events linked to it.

Communism, comrade.

Their oil is super sour.

Also communism.

40% of Venezuelan oil goes to America

Here read.
money.cnn.com/2016/02/03/news/economy/venezuela-imports-american-oil/

tl;dr Not all oil is equal.

It's cheaper to buy Gulf oil and ship here than refine Venezuela crude