amazing how you cling to ignorance
Crisis in Venezuela
https://en.wikipedia.org/wiki/Crisis_in_Venezuela
Political corruption, chronic shortages of food and medicine, closure of companies, unemployment, deterioration of productivity, authoritarianism, human rights violations, gross economic mismanagement and high dependence on oil have also contributed to the worsening crisis.
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How Venezuela Struck It Poor
https://foreignpolicy.com/2018/07/16/how-venezuela-struck-it-poor-oil-energy-chavez/
....Chávez either didn’t know or didn’t care; determined to finance his ongoing socialist revolution and use cheap exports to buy friends abroad, he kept turning the screws on the oil industry. Using legally questionable methods, he started siphoning off billions of dollars in PDVSA revenue to pay for his social programs, including housing, education, clinics, and school lunches. While this strategy may have paid off politically in the short term, it was extremely dangerous: for the more cash the government took out of PDVSA, the less money the oil company had to invest in maintaining production or finding new resources. Since oil fields gradually produce less oil over time as they get tapped out, countries constantly need to dig new wells and rejuvenate shrinking reservoirs with injections of water or gas...
In case you forgot, there was a massive drop in the price of oil around 2015. Texas faced the same problem Venezuela did, but Texas got a bailout from Uncle Sam so they didn't have to admit their economic model, which is almost wholly dependent on fossil fuel revenues, was crumbling just like Venezuela's.