Excerpt from The Daily Wire
Written by Joshua Yasmeh
Socialist failed-state Venezuela is so desperate that it’s now buying oil from its longtime foe, the United States.
Venezuela’s vast oil-reserves once blessed the nation with money like manna from the sky, subsidizing everything from its extensive social welfare programs to its mandatory price controls on basic commodities. Since the Chavismo revolution, petroleum has been a marker of national identity. “Oil accounts for half of the Venezuelan government’s revenues, what former President Hugo Chávez once called an ‘instrument of national development,’” reports The New York Times. “The state oil company poured its profits, more than $250 billion in all from 2001 to 2015, into the country’s social programs, including food imports.”