If oils is so cheap in venezuela?

Question

why is it so poor a country??

Answer 1

Because it's government's two major parties are communist and socialist.

Answer 2

Good point, we are just no good enough stewards of what we got and there far too much corruption in all our political systems.

BTW: there is no Communist in Venezuela, Only socialist and the other parties

Answer 3

We're a major oil producer but we're still poor like many other OPEC countries, such as: Iran, Nigeria and Libya.

Poverty is a very complicated subject. But roughly, it's due to the fact that we only produce oil, everything else in Venezuela is imported and our oil industry and government can only employ so many people.

Also, we have an EXTREMELY corrupt and inefficient socialist government that taxes our industry to death and controls everything but gives very little back to the people.

It's sad but true.