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What industry does Venezuela control?
the oil industry.
What statement about Iraq is not true?
profits from iraq's oil industry have been used to developed the country
What does the government in Venezuela own?
The government owns the oil industry
What is Venezuela's major industry?
Petroleum Petroleum
How would one compare and contrast the modern industry and the traditional agriculture of Venezuela?
Venezuela is not self-sufficient agriculturally and it must import most of its food. Venezuela's modern industry is oil. Before they discovered oil in 1913, 80% of the population was rural and illiterate. Venezuela now ranks among the richest and most powerful nations in the world.
What is the major source of income in Venezuela?
There are three main industries in Venezuela. Mining for bauxite and aluminum is a major industry. The people of Venezuela also work in oil fields, both on and off shore. Venezuela is also a steel exporting country.
Why does Venezuela have so much oil?
Oil is important to Venezuela, because it is most of Venezuela's economy.
What percentage of US oil is from Venezuela?
the percent of venezuelan oil that is used in the us is 10 percent
Which country has the largest oil reserve?
Venezuela currently has the largest oil reserve. Saudi Arabia used to have the largest, but was recently surpassed, as Venezuela's deposits were at 296.5 billion barrels at the end of 2013.
Is Venezuela an oil producing country?
Yes. Venezuela is an oil producing country. In fact, oil related pollution is an environmental concern in Venezuela.
What major products are in Venezuela?
Oil. Hugo Chavez wanted to control the country. After he was released from jail he ran for president and of course was elected and won. When he won in 1998 he nationalized the oil industry
What method does OPEC used to increase its profits?
Limiting the supply of oil
