Venezuela's oil wealth is often overstated. Yes, the country sits on massive reserves, but here's the reality: those barrels won't flow anytime soon.

The infrastructure has deteriorated after three decades of mismanagement. Recovery? That's looking at over $100 billion in capital investment—and that's just to get started.

Then there's the crude itself. Heavy, tar-like deposits require specialized refining and processing. Valuable, absolutely necessary for global energy markets, but it's no "plug-and-play Saudi Arabia."

Understanding resource constraints and geopolitical realities matters when thinking about long-term macro trends and energy volatility's impact on markets.