As Venezuela continues to implode, with riots and looting
and increasing reports of starvation, let’s take a moment to note that it was
once the richest nation in Latin America, with vast oil reserves and an
educated, productive workforce. So what happened? “Venezuela is a country in
crisis. Protesters that are opposed to the socialist government are being
killed, and Venezuelan citizens are starving to death,” reports Forbes
magazine. “A humanitarian disaster is unfolding that has been in the making for
years. The current crisis can be traced to the historical management of the
country's oil industry.” More…
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