Oil Rich, yet DIRT POOR!

  • Posted by a hidden member.
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    Jun 30, 2016 1:43 AM GMT
    Really sad due to lack of preparedness and vision.

    Venezuelans are storming supermarkets and attacking trucks as food supplies dwindle

  • Apparition

    Posts: 4030

    Jul 01, 2016 6:11 PM GMT
    It think only norway is running their oil profits correctly. Everything into a trust for the future, and NONE of it allowed to be invested in the home country to limit corruption.
  • JackNNJ

    Posts: 1466

    Jul 02, 2016 1:17 PM GMT
  • roadbikeRob

    Posts: 18111

    Jul 02, 2016 2:56 PM GMT
    Venezuela was too dependent on one product in this case oil and failed to diversify its economy. When the oil prices fell worldwide, its economy collapsed because the country never developed any other type of industry to make up for this horrendous shortfall. The anti-US and extremist left wing policies of the late Hugo Chavez further isolated and weakened Venezuela which has led to this country's economic depression. A very sad, horrible situation indeed.icon_sad.gif