Heh Adrian – Try reading a Newspaper once in awhile. The Venezuelans are getting tired of the shortages. Shortages produced by people unwilling to work and take risks because they know the State will rob them of their efforts.
Where-ever you have weak property protections (Warlords, Communists, Socialists) you have lower productivity and eventually shortages.
You may not like conservative posts but you can’t possibly be thinking that if you ignore the situation it just won’t matter to your liberal bubble.
Venezuela was doing fine as long as oil was in high demand. Then along comes fracking which allows the US to become very good at producing their own oil again. The price of a barrel declines and Chavez can’t get enough cash to pay for all those social programs his supporters demand.
This is a warning for the rest of us as well. Oil is entirely fungible and will go where the cash to pay for it is. If Venuzuela has a major strike, the price of oil and then Gas will go up. Look for $4 and $5 gas come summer.