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Chronic underinvestment in the people and equipment needed to get that oil out. It's not a simple "just dig until you find oil". There's also the government ta
by whb07 9y ago
Chronic underinvestment in the people and equipment needed to get that oil out. It's not a simple "just dig until you find oil".
There's also the government taking over private companies and running them poorly(surprise). Which leads to less investment and production which leads to less tax revenue, and the downward spiral keeps picking up speed.
- justadeveloper2 9y agoIt's South America. I figure there's a ton of corruption and just plain stupidity. Look at how China runs things--they don't fix anything, they just build stuff and let if fall apart. It's a different way of thinking.