Venezuela on verge of collapse

Pittsburgh Post-Gazette: A combination of falling prices on oil, the chief source of income for Venezuela, and major misgovernment by President Nicolas Maduro, is bringing that Latin American country closer to collapse and possible revolt.

With a population of 30 million and some of the world’s largest oil reserves, Venezuela, on the northern edge of South America, has the raw materials to be a successful country. It is America’s fourth largest supplier of crude oil.

Venezuela was led from 1998 to 2013 by Hugo Chavez, a mercurial, bombastic former army officer.

The Bush administration fell out with Mr. Chavez in 2002 when it recognized the leadership of a coup carried out against him. The problem for the United States was that Mr. Chavez was able to reverse the coup and return to power. He never forgot it. When he died in 2013, he was succeeded by a less charismatic protege, Mr. Maduro, who has struggled with government ever since.

With popularity below 20 percent, empty store shelves due in part to price controls and inflation running at 70 percent, Mr. Maduro has become increasingly repressive, attacking pharmacy and grocery chains for the shortages and last week arresting for coup plotting Antonio Ledezma, the mayor of Caracas, the capital. Mr. Ledezma is head of the opposition Fearless People’s Alliance, which Mr. Maduro alleges is supported by the United States.