Venezuela -- June 12, 2024

Locator: 47821VZ.

From Peter Zeihan today:

A country that once boasted high education levels, cultural achievements and a thriving oil industry, has managed to turn a winning hand into a losing one.

Leaders like Hugo Chávez and Nicolás Maduro helped lead the country down the path of collapse.

At this point, the only thing keeping the country afloat is the partial lifting of sanctions by the Biden administration; however, the continued neglect is leading Venezuela’s oil industry towards failure.

Without skilled labor or a major company to step in, we could see Venezuela become a net oil importer within a year.

Once the oil goes, so does everything else. We're talking economic woes, societal dislocations and famine.

Major company or country. I'm thinking China. Possibly Russia/Cuba. One has to think big. Outside the box.