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Oil Industry Is Fading Away in Land of the World’s Richest Reserves

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Venezuela is so richly endowed with oil reserves that it helped found OPEC many years ago. Now, after years of mismanagement, its petroleum industry is fading away.

People push cars while in line to buy scarce gasoline in Caracas. VIDEO: OSCAR B.CASTILLO FOR THE WALL STREET JOURNAL.

People push cars while in line to buy scarce gasoline in Caracas. VIDEO: OSCAR B.CASTILLO FOR THE WALL STREET JOURNAL
 

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tough to pump oil when you’re starving

Mismanagement or the Cartel robbing the people blind?

socialism 101...

Aoc’s ideal america, how these dummies cant understand it baffles me! I guess its just cuz they are low life deadbeats looking for govt handouts, which is what govt did in venezuela. They bot votes for years until they ran out of money.

'Mismanagement'

We wish Venezuelan oil reserves were not being used because they had chosen green energy instead. Unfortunately it turns out that dictatorships don’t always know how to manage countries and resources. May be true in trump’s USA too. Hard choice to modernize. Old tech hangs on.

By 'mismanagement', I believe you mean US sabotage and sanctions aimed at forcing a regime change to benefit US corporations.

What are the odds between third world countries, developed and powerful counties that make a difference in the whole world population? And what are the figures in oil and battery consuming vehicles markets, & solar power in the whole world? They have to compete or go without

US sanctions ?🤷🏻‍♂️

Socialism 🙁😡

It is not mismanagement but US sanctions

No, more like a decade of crippling sanctions did. Gawd what a uhmmm uhmmmm? Hey realDonaldTrump help me out, what's that word?

US media 🤡

That picture could be any socialist city in America, and except noting is on fire.

The future of America under Biden, antifa and BLM

When you let other countries get all up in your business while they hold on to theirs.

There will come a time that everything will change....

A real socialist 'paradise'.

chavez,

Socialism SXXI at its best in making once bountiful countries into economic latrines in 15 years. Zimbabwe (Mugabe) & Venezuela (Chavez) are examples of Socialism mismanagement of resources

*Socialist mismanagement

you won't get that oil 😆

Socialism

Is it really miss management or not agreeing to bullying by few big boys

All because of US interference🤷‍♀️

Communism doesn’t work

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A Glut of Refineries Is the Oil Industry’s Next ProblemHeard on the Street: New capacity in the developing world is making European plants that turn oil into gasoline and other products obsolete European countries must add agricultural and farming in their primary school syllabus bcz soon they will be no longer needed to d world. Ryt now they are little bit relevant bcz of their leftover finances which they grabbed from Asian/Africans in last 3 centuries. Don't believe it yet. The prices realized today are nothing like two years from now when just one refinery fire will send them even higher.
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