AZrailwhale
Diamond Member
There are many countries that produce oil extraction equipment and Venezuela is free to trade with all of them. Venezuela’s problem is that Chavez’s cronies Drove out the people who knew how to run the oil industry, then looted it for personal profit, and by simple incompetence ran it into the ground for more profits while refusing to maintain the infrastructure. Just because the USA won’t trade with a country doesn’t mean other countries won’t as well.Venezuela is one of the least socialist countries in the world, and is the remnants of Spanish imperialism and colonialism.
The US also created a reactionary military elite in Venezuela.
The oil in Venezuela is not light sweet, but thick tar sands that is very hard to extract.
The US embargoes Venezuela, so they are having trouble getting broken equipment fixed.