The Success of Socialism?

Venezuela’s government took to the press to announce what they felt was a major milestone over the weekend.

You may recall that Hugo Chavez, the President of the United Socialist Party of Venezuela, took power in 2007 and the United Socialist Party has ruled the country ever since.

This weekend, the Venezuelan government announced the arrival of the first of five tankers filled with gasoline from Iran, a milestone that it touted would help shortages in the country.

What it didn’t mention is that Venezuela has been a member of OPEC for decades. Why is a member of OPEC importing oil from another member of OPEC? Venezuela reportedly has the world’s second largest reserves of oil, and one of the largest refineries in the world.  It’s because Venezuela’s oil production is only a fraction of what it was fifteen years ago and its refineries have fallen into disrepair and are not able to keep up with demand.

Thirteen years of socialism in Venezuela, and a member of OPEC has gas shortages. Sound like a good system?

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