The Trump administration is threatening to embargo Venezuelan oil, a potentially ruinous blow to the Saudi Arabia of South America. But here in the home of the world’s largest crude reserves, Venezuela is killing its largest industry all on its own. Speculators once joked that all it took to strike oil on the vast plains of eastern Venezuela was a guy with a shovel. These days, the socialist government cannot seem to make the industry work. This vast extraction site near the eastern town of Punta de Mata, which once churned out 400,000 barrels of oil a day, is a tableau of hungry, idle workers and broken rigs. The site about 280 […]