Is VERY Oil Rich, BUT its not the place any right minded person would want to Live, Watch below to find out More.
When Hugo Chavez was democratically elected he won by offering free stuff to the peasants. Once in power he followed through giving away things like a toaster oven to poor families. These Robin Hood style actions made him very popular with Venezuela's mostly poor uneducated populace. He then began to emulate his mentor Fidel Castro by seizing private businesses and properties from corporations and well off citizens. He unilaterally reworked contracts with major oil companies and contractors making it unprofitable doing business there. He replaced top management in the nationalized oil cmopany with incompetent political loyalists. He rigged the supreme court, and then the parliament, effectively turning the country from a democracy to a dictatorship. Then he died leaving the Presidency to Maduro whose training for the job was his previous career as a bus driver. Suppression of political rivals followed. The refineries fell into disrepair without competent management. Even though they have the world's largest supply of oil they had difficulty turning that resource into money. Now Venezuela is the new Cuba. A failed government with an entrenched dictator supported by a bribed military and pariah states such as Iran. What a series of disasters.