...Reinaldo Bolivar speaking in Senegal has advised African nations to nationalize their oil resources in order to fight poverty and follow the example of Venezuela.
Africa currently produces 15% of the world’s oil and according to Bolivar “Africa's oil is plundered by multinationals: they sell it very expensively even here" he suggested that by pooling resources Africa could supply its own market.
Bolivar went on to say "There are some things for (African countries) to learn: the principal of nationalization of our basic industries, our natural resources in Venezuela, is something we consider necessary for our riches to benefit the people..."
Rather than look to Chavez' failed economy -- which has nationalized the oil, steel, and cement industries, to name but a few -- Africans should closely examine Zimbabwe's Robert Mugabe. Mugabe nationalized a far simpler enterprise than oil: land use for farming. The result was an utter disaster.
Mugabe's land reform program was supposed to redistribute among poor blacks large commercial farms owned by about 4,500 whites that covered 80 percent of Zimbabwe's best land. Instead, he used the farms to extend his patronage system, giving them to ruling party leaders, security chiefs, relatives and friends.
Zimbabwe had been a major food exporter until then, but its agricultural sector collapsed and the economy started unraveling. Today, a third of Zimbabweans depend on international food handouts, and another third have fled abroad looking for work or political asylum...
Zimbabwe is in the grip of its worst humanitarian crisis since independence. Twenty years ago the country was hailed as an African success story and dubbed the "breadbasket" of southern Africa. Now its economy is in tatters and the World Food Programme (WFP) estimates a third of the population faces food shortages...
...Zimbabwe now has one of the lowest life expectancies in the world and one of the highest HIV/AIDS rates. Just under 25 percent of people aged 15-49 are HIV-positive, according to the Joint United Nations Programme on HIV/AIDS (UNAIDS).
And with the economy in shreds, unemployment is running at an estimated 70 percent. Inflation is also rampant, standing at 164.3 percent in the year to June 2005...
Yes, it's another success story for socialism!
And remember: when Democrats advocate ever greater government control -- of the oil industry or increased taxes -- they are putting America on the road to economic disaster.
How many case studies do we need before Democrats get the point?