alt Hacker NewsThe ironic thing is that nationalizing the oil was pretty much the most defensible part of Chávez's legacy.
(To be clear I'm not a fan of Chávez or of Maduro.)
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tim333 • last Saturday at 6:59 PM
Chavez actually did quite well in the early years. I'm not sure he nationalized oil but took greater amounts of the revenue in tax and used it for positive things for the people. It went downhill after a while with many of the problems common to communist policy though.
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The policy that led to a collapse in oil production in a petro state? The policy that led to an economic collapse so severe that 20% of the population has emigrated? That's the policy you call defensible?