Why the Richest Oil Country on Earth Ran Out of Gasoline

Venezuela has the world’s largest oil reserves - so why did its people wait in lines for flour and gasoline? This episode looks past the headlines and follows one decision that reshaped Venezuela’s entire future: what happened to the country’s oil industry after the 2002–2003 PDVSA strike. We explore how a nation with more proven oil than Saudi Arabia went from an economic powerhouse to the center of one of the worst economic collapses in modern history. From Angel Falls and the Orinoco Belt to empty refineries, mass emigration, and the people who once kept the oil flowing, this is the story of how expertise - not just resources - determines whether a country succeeds. 0:00 — The country with the world’s largest oil reserves 0:48 — Venezuela before the crisis: oil, beauty, and global influence 1:36 — The Orinoco Belt: why Venezuela’s oil was so difficult to extract 2:24 — The 2002–2003 PDVSA strike 3:12 — What happened after the strike ended 4:00 — The mass departure of Venezuela’s oil experts 4:48 — Why the consequences were not immediate 5:36 — The turning point in the oil industry 6:24 — When the cracks became impossible to ignore 7:12 — Life inside the crisis: shortages, inflation, and gas lines 8:00 — The largest migration crisis in Latin American history 8:48 — What Venezuela looks like today 9:36 — The real lesson: resources are not the same as expertise 10:15 — What’s coming in the next episode