How Socialism Wiped Out Venezuela's
Spectacular Oil Wealth
Reason,
by
Andrés Figueredo Thomson
Original Article
Posted By: OhioNick,
2/2/2021 4:11:14 PM
Venezuela has the world's largest proven oil reserves and yet the country has run out of gasoline. The socialist government has lost the capacity to extract oil from the ground or refine it into a usable form. The industry's gradual deterioration was 18 years in the making, tracing back to then-President Hugo Chávez's 2003 decision to fire the oil industry's most experienced engineers in an act of petty political retribution. The near-total collapse in the nation's oil output in the ensuing years is a stark reminder that the most valuable commodity isn't a natural resource, but the human expertise to put it to productive use.
Reply 1 - Posted by:
justavoter 2/2/2021 4:26:39 PM (No. 682880)
Just remember, the Democrats destroy EVERYTHING they control. We are on the path of Venezuela with Democrat control of all branches of government.
Voting Rule: (If we still have them)
In the Primary: Never vote for an Incumbent
In the General: Never vote for a Democrat
12 people like this.
Reply 2 - Posted by:
snapper451 2/2/2021 4:49:19 PM (No. 682902)
We are well on our way, thanks to not my president Dementia Joe's rash of executive orders. I was out doing errands today and saw the fruits of Biden's "America Last" strategy when I saw a gas station has regular at $2.47/gallon, a full 50 cents higher than when Trump was President. This is our future thanks to pathetic RINO's who were petrified to challenge the rampant voter fraud and those who folded like a cheap suit in Georgia, because they were afraid of Fat Stacey. Meanwhile, the tech oligarchs have muzzled President Trump from commenting and threaten anyone who supports him. This can not stand!
17 people like this.
Reply 3 - Posted by:
Krause 2/2/2021 5:14:59 PM (No. 682929)
I wouldn't even call it socialism. Chavez, and now the bus driver, are merely thieves, stealing the country's wealth, by force.
8 people like this.
Reply 4 - Posted by:
john56 2/2/2021 5:41:32 PM (No. 682949)
Coming soon to an America near you.
5 people like this.
Reply 5 - Posted by:
bobn.t 2/2/2021 5:59:47 PM (No. 682968)
Now with Obama 3 in office, the country is being marched into socialsim.
Govt overthrow of our democracy: Armed military in DC, concertino wire surrounding DC, free passage disrupted in DC. TSA approval needed to interstate travel. Suppression of free speech, govt censorship of free speech,
Need I say more?
4 people like this.
Reply 6 - Posted by:
bobn.t 2/2/2021 6:01:45 PM (No. 682969)
#4 - it has arrived.
3 people like this.
Reply 7 - Posted by:
red1066 2/2/2021 6:31:11 PM (No. 682983)
When Trump wants to be heard, he'll be heard. Let's wait until after the fraud trial. I visited Venezuela back in the mid 70's when I was working on oil tankers. They had marshal law back then, and the police walked around with machine guns. As for the oil, the ships would dock at a platform out in Lake Mara-something or other, and the oil was pumped into the tanker via pipeline under the water. Now the oil Venezuela has is full of sulfer and needs an extra refining process to produce gas and heating oil. Neat trip for a young college student's summer job, and who up until that time had never left the east coast of the U.S.
4 people like this.
Reply 8 - Posted by:
ThreeBadCats3 2/2/2021 6:34:47 PM (No. 682985)
I think # 2 intended to say “big, bold and beautiful” Stacy.
2 people like this.
Reply 9 - Posted by:
DVC 2/2/2021 9:43:37 PM (No. 683106)
And the Demonrats are driving America downnthat exact same path to destruction.
2 people like this.
Reply 10 - Posted by:
Paglia guy 2/2/2021 10:07:37 PM (No. 683124)
Who cares? And, duh, Reason. Who doesn’t know? What a waste of print, no Reason to read it. Libertarians elect Democrats.
1 person likes this.
Reply 11 - Posted by:
stablemoney 2/2/2021 11:08:59 PM (No. 683162)
Chavez and Maduro don't know how to do anything. They just take things built by others away from them by force. Both liquidate the company by consuming the production of others, until one day you notice there is nothing left. Many of us have witnessed this type of leadership in business and government.
0 people like this.
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