In the Eye of the Beholder

In Alberta, and in most other places, we might call it Black Gold but in Venezuela, some call it The Devil's Excrement. This is quite the expression. There even is a blog that bears the name. Here is the description:

Observations focused on the problems of an underdeveloped country, Venezuela, with some serendipity about the world (orchids, techs, science, investments, politics) at large. A famous Venezuelan referred to oil as the devil's excrement. For countries, easy wealth appears indeed to be the sure path to failure. Venezuela might be a clear example of that.

Some blame it on the Americans, and some blame it on the oil itself. Is it ever anyone's responsibility?