This, at any rate, is not in doubt.

Paroversary in Puerto Ordaz

Venezuela's flagship state-owned steel mill, Sidor, showcases the logical conclusion of chavista economic management.

For those of you keeping score at home, it’s now been three months since Sidor has produced steel. As in any steel at all. 

Production stopped the second week of January, for lack of needed supplies of refractory materials. When those supplies were eventually delivered in February, Corpoelec realized Guri Dam was running out of water and nixed the plan to restart production to save power.

Sidor has, in a way, become the reductio ad absurdum of the ¡Exprópiese! Era: its production has fallen a nice, round 100%.