RE: The Dutch Curse and VENEZUELA's Oil

avatar

You are viewing a single comment's thread:

I never thought Venezuela got a good economy back then thru oil and gas industries. I always thought middle east is the center of distribution of the oil and gas supply.
Diversification really plays a crucial role in country's economy, it also is applicable to people. They should diversify if what asset they hold is coming to its valueless era. Time is really an unpredictable situation.

hive-143901
0
0
0.000
6 comments
avatar

I was also surprised to know it was one of the biggest economys. If only they managed it well with diversification...

0
0
0.000
Reply
avatar

Yeah. Good governance is really one thing about economy.

0
0
0.000
Reply
avatar

Venezuela has the world's largest oil reserves. The problem is that it's heavy oil, which is more expensive to process. It requires chemical inputs that the United States has to sell them. That's why the industry relies on exporting crude oil.

0
0
0.000
Reply
avatar

Heavy oil means raw? fossilized like that? Why not coordinate with middle east? Much be cheaper processing there. Well basically, if ever they have this resources known in the first place, they should just built processing plant in the first place.. but then again.. politics.. wew

0
0
0.000
Reply