Twice Venezuela has opened its oil industry to foreigners and twice it has then socialized their investments. Third time may not be lucky

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Over the weekend, President Donald Trump said of Venezuela’s oil future: “We’re going to have our very large United States oil companies, the biggest anywhere in the world, go in, spend billions of dollars, fix the badly broken … oil infrastructure, and start making money for the country.”

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Were the president’s vision realized, that would have significant implications for