Thank you for adding that point. Any nation that merely relies on oil has a pathetic economy. What are people doing with themselves, right?
And after the nationalized their oil companies, they put in incompetent politicos to run them, so it wasn’t just the drop in oil price.
Also, Venezuela was an exporter of agriculture until Chavez took the farms from the owners and gave the land to people that didn’t know what to do with it. Just like Mugabe/Rhodesia.