The oil industry in the country sitting on the world’s largest oil reserves is collapsing amid a savage economic crisis and rampant hyperinflation. So desperate is the situation in Venezuela that even oil workers—who still keep the country’s only foreign revenue source running—regularly report for work hungry and are increasingly unable to perform their duties because toiling in a heavy-labor job becomes more and more difficult amid widespread malnutrition and starvation. Hyperinflation is essentially eating the oil workers’ salaries in bolivars and is leaving them with nothing to eat. Thousands have walked off their jobs at state-owned oil firm PDVSA, leaving fewer and fewer workers to support the oil industry, Fabiola Zerpa writes in a feature for Bloomberg. At this point, the only unknown for Venezuela and its oil industry is how much worse it can get. And it’s desperately bad now. Oil production has been plunging by tens […]