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atomic1fire t1_j2byc6k wrote

Reply to comment by IBAZERKERI in Chevron sending two oil tankers to Venezuela under U.S. approval by Octavus

Venezuala's the result of nationalizing foreign companies, replacing the employees with party loyalists who's only qualification is "They support the man in charge", and then acting pikachu faced when the country has shortages and has sanctions from the US that make it difficult to find trade deals.

Plus treating the oil money like a piggy bank to fund their social programs, and since they clearly are way too smart for the competent naysayers they removed, their management of said social programs is also bungled.

Also the issue where they over relied on oil money and as a result their economy becomes stagnate and they go into debt because their other industries get underdeveloped due to all the oil focus.

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Cicero912 t1_j2fb1tt wrote

Thats every oil country...

The only difference is that America will bend over backwards to satisfy the oil monarchys in the middle east cause they are right wing authoritarians, while if youre left wing they will try to destroy you.

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atomic1fire t1_j2fc9ec wrote

Venezuala is a member of OPEC along with those "right wing authoritarians", so I doubt you're barking up the right tree.

America has no interest in nationalizing the oil infrastructure because we're not idiots.

Once you take over an industry and put party loyalists in charge, you basically remove anyone who has any idea what they're doing.

China had famines.

Venezuala had shortages.

Cuba had shortages.

Russia had shortages.

It's the same cycle of stupidity. Fire all the competent people, put idiots in charge, and ignore the simplest concept of supply and demand in exchange for the whims of some despot idiot who thinks they know better then human nature and the laws of scarcity.

End result is you always have too much of the wrong thing, and not enough of the right thing, and you end with the poor starving far worse then they would in a capitalist country.

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