In almost every article about Venezuela, we’re told that the economy collapsed because the oil price did.
Here is the price of crude oil adjusted for inflation.
Today, the price is almost three times higher than when Chavez took power.
Source: https://www.macrotrends.net/1369/crude-oil-price-history-chart
Johan Norberg
A special thanks goes to Johan Norberg & Free to Choose Network for finding this source
https://www.facebook.com/johannorbergofficial/ & http://freetochoosenetwork.org/