Marxists on the March

Via Little Green Footballs, Rigzone:

Is Venezuela's oil production rapidly waning? One source reports that the world's fifth largest oil producer is showing signs of a rapid decrease in production, one of the key tenets of the peak oil theory.

Venezuela is buying oil from Russia in order to avoid defaulting on deliveries to clients. The situation raises serious questions about the country's oil production and the future of PDVSA as a major oil producer, and increases the risk to the U.S. oil supply should the country's oil production suddenly plummet.

And nationalization of oil companies a la Bolivia may be in the works. After Chavez' election, experienced managers who didn't want to work for him quit or were fired impairing production, and the Venezuelan President has been tossing money around trying to buy influence and elections rather than plowing the oil profits back into maintenance.

Wrecking a country in no time, Marxists on the March.