Venezuela's military is reportedly taking over the country's state oil giant

I think this is one more bad political decision in what has been a tragic series of bad political decisions. A housing minister running an oil company full of management from the military does not bode well for the future. Chavez's decision to nationalize PDVSA gave him the cash cow he was looking for when he needed to fund his massive welfare programs but he milked it for what it was worth and then was bleeding it dry from lack of reinvestment when he died and handed it over to Maduro. During Chavez's takeover, many, many people lost their jobs if they didn't swear allegiance to him or if it was discovered that they voted for his opposition in the previous election. Thankfully, a lot of those people made it to the USA and have been great contributors to our energy industry. My Venezuelan friends and I watch with remorseful eyes as their former home goes down the drain.