[Old Teufel Hunden]

"The president however says he is fighting an "economic war" being waged by Venezuela's "fascist" right supported by the "imperialist" United States."

In the free world, we call this the free market. Yes, I'm enjoying my cheap(er) gas Venezuela. My advice to you, don't be a petro economy. Try the free markets and let your people produce something. The only thing Venezuela has exported in the last 15 years is oil and misery...

[hal ogen]

I laugh at the venezuelans who are choking on their socialst s*** sammich. Hahahaaaaaa.

[henkster]

One problem a lot of these 3rd world oil economies have is a lack of business sense in how to properly run an oil business. The infrastructure of extracting and refining petroleum is tremendously expensive, and requires continuous maintenance and upgrades to remain economically viable. Real oil companies like BP and Exxon run on very tight profit margins. They make their money on volume.

Most of these hell-holes run by tinhat dictators loot the money out of the oil industry that should be going to infrastructure upgrades, and in a decade they have an unprofitable industry. And the economy built on it will wither and die.

When you put socialists in charge, it gets even worse. The upgrade money is spent on “social programs” that accomplish nothing but waste money and line the pockets of the “vanguard of the revolution.” In the end, you get...

...Venezuela.