VENEZUELA 1972

[Recce4]

What a bright and shining future this country has to look forward to. Blessed with natural resources.
What could go wrong?

 

[JGalt]

America will never be a socialist country. Unlike Venezuela, our resources are in the hands of corporations or private individuals, not the government.

 

[Sunni Man]

Bottom line is Venezuela built their entire economy based on exploiting one natural resource, oil.

When the world's crude oil supply far exceeded the demand, the market crashed, and so did Venezuela's economy. ...

 

[percysunshine]

Bottom line is Venezuela built their entire economy based on exploiting one natural resource, oil.

When the world's crude oil supply far exceeded the demand, the market crashed, and so did Venezuela's economy. ...

The Venezuelan economy crashed when oil prices were high.