Why Venezuela Is So Poor Despite Having So Much Oil
📝 Support me on Substack: https://geographyiseverything.substac... 💬 Instagram: / geographybygeoff 💬 Threads: https://www.threads.net/@geographybyg... 🌎 Podcast: https://www.spreaker.com/show/geograp... or @GeographyPod 🌳 Linktree for everything: https://linktr.ee/geographybygeoff Venezuela has the largest deposits of oil in the world. More than Saudi Arabia, more than Iraq, more than Canada. Despite this, the country has been in economic free-fall for the last few years. And its production of oil has dropped from about 3.5 million barrels per day to less than 600,000. Here's why Venezuela is so economically poor despite having so much oil. Stock footage is acquired from www.storyblocks.com. Some videos provided by Hiurich G. on Pexels.
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