alt Hacker NewsThe US could be acting in their own interest and their actions could benefit Venezuelans at the same time. Venezuela has insane amounts of oil and could be the Saudi Arabia of south America. Why aren't they? Why are there food shortages there? Where's all the oil revenue going? Why isn't there more oil revenue?
Replies
Hikikomori • last Saturday at 8:43 PM
Well it could have something to do with the US previous involvement in Venezuela dating back over 100 years.
A major factor is that Venezuela's oil is mostly heavier crude, which is denser and more viscous. This makes it costlier and more difficult to extract and refine, and usually sells for a lower price than lighter crude.
There's also rampant mismanagement, poor infrastructure, and sanctions affecting the output and outcomes. See also: "resource curse"