Realist, not conformist analysis of the latest financial, business and political news

Socialist Joy, Venezuela – Nation With World’s Largest Oil Reserves – Runs Out Of Gasoline

Aren’t we all just so lucky that Alexandria Ocasio Cortez is going to be President – as soon as she’s old and mature enough – and bring socialism to America? For the one thing the United States is short of is shortages and that’s so lacking in character building exercises. It would be far, far, better if the socioeconomic system were entirely changed in order to improve the American moral strength.

Or, we might ponder what is happening in Venezuela. The country with the world’s largest proven oil reserves. They’re running out of gasoline:

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]Soldiers oversaw rationing of gasoline at service stations in several parts of Venezuela on Sunday as worsening fuel shortages forced angry drivers to wait for hours to fill their tanks, prompting protests in some areas.[/perfectpullquote]

You’re right, an oil producing nation, one exporting vast girt shiploads of the stuff, is running out of gas. Ain’t that just a system of organisation to be copied?

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””] “I’ve spent four days trying to get gasoline,” Urdaneta said. “But I couldn’t.” A satellite cruising over Maracaibo on Thursday captured pictures of cars lined up for a mile (1.6 kilometers) through the city to the pumps, according to by Maxar Technologies, a U.S.-based space technology company. [/perfectpullquote]

Well done, well done.

As PJ O’Rourke once remarked:

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]Cigars are rationed in Cuba and there’s no decent takeout in China. That’s all you need to know about socialism.[/perfectpullquote]

Of course, AOC would tell us all that this time it’s going to be different. A statement to which the correct answer is anything other than “Prove it”.

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chiguy31
chiguy31
1 year ago

The problem (or better said, one of the problems) with shortages is that they breed corruption.

Apparently some police/military are showing an entrepreneurial spirit by charging people to go to the head of the line.

If Mr. Maduro went away, shortages would ease and (that manifestation of) corruption would go away.

In a capitalist system, shortages are rare (unless the government gets involved); as Mr. Worstall points out, under socialism, they are common.

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