“Its stores are empty, its people are starving, and its government is to blame. It has tried to repeal the law of supply and demand, and, in the process, eliminated any incentive for businesses to actually sell things. The result is that the country with the largest oil reserves in the world now has to resort to forced labor just to try to feed itself.” From WaPo: Venezuela’s death spiral is getting worse. Abridged version: When oil makes up 95% of your trade revenue and the price of oil collapses, bad things happen. Today, the world’s biggest story is the economic divide. In a few years, the geopolitical impact of the shift to non-fossil fuels will be right up there with it.