Comment by terminalshort
6 days ago
There's a massive difference, and that difference is that American oil companies, unlike the Venezuelan state run industry, are actually very competent at extracting oil. This means more good paying jobs, more state revenue, and massive economic growth. Contrary to the claims of most of the economically illiterate morons commenting here, having a functional local oil industry run by foreign companies will actually be great for Venezuela.
I think you got it wrong. It might be better for Venezuela, but it will for sure be great for those companies.
your comment sounds alot like nationalist chest thumping, the reason they were unable to do much with their oil is much more related to the usa deciding they would sanction the country meaning basically worldwide they can't sell the oil