Oil and farms

Hugo Chevez was swept into office in 1998 on what was called the pink wave. This was in reference to his socialist or communist lite approach. Many well known liberals in the United States championed his cause of nationalizing the oil industry. His method of operation was to drive a wedge between the rich and the poor by promising to redistribute the wealth and he did so by taking land away from landowners. He then offered public assistance in the form of food, education and healthcare. Oil production dropped after the government took over the industry. In 2000 it was 3.5 million barrels per day and by 2019 it declined to under one million. Many foreign engineers left the country and the oil business suffered. Something similar happened to Zimbabwe, when Robert Mugabe took over and in 2000 transferred ownership of farms from landed white owners left over from the colonial days to inexperienced Blacks. Zimbabwe used to export farm products and now it imports.