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In reply to the discussion: Venezuela to nationalize food distribution [View all]MADem
(135,425 posts)he wouldn't have fallen into that deep hole. The VZ oil industry has been nationalized for almost FORTY years--it's impossible to blame "outside forces" for it.
The problem with the VZ oil industry nowadays is that the people running it QUIT, and now they have no one competent to manage the oil fields. The rank and file workers are not called to account, and no one is buying replacement parts for the oil rigs because, since VZ doesn't pay their bills, no one will extend them credit anymore (part of the reason you can't fly to Caracas except with great difficulty).
You can't hire people and not PAY them!!! Well, you can...but don't expect 'em to stick around!
Maduro has given half of VZ's oil to CHINA....THAT's another problem with their "oil industry." They don't OWN it anymore! So much for "socialization!"