Apparently, the socialist/communist government of Venezuela has not only confiscated a General Motors plant, prompting the company to abandon business in the country, but their confiscation of oil company assets has left the nation unable to even repair pipes used to load oil tankers, leading to weeks-long delays in tanker shipments as ships must be cleaned before leaving Venezuelan waters.
The only bright side here is that the upcoming collapse of the Venezuelan economy leaves an opening for the U.S. and other nations to put conditions on help for the beleaguered nation. This is especially the case given that the main place Venezuelan oil can be refined is Texas. I'd suggest that a bare minimum of conditions would be (a) no economic assistance for Cuba, (b) return of foreign assets seized by the government, and (c) the ruling socialists step down with the provision that they never, ever, try to seize power again.
Sunday Firesides: Dependence to Independence - When you’re a baby and a toddler, you’re helpless: you can’t articulate what you need and what’s bothering you. You can only cry or throw a tantrum or re...
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