There's plenty of countries which derive as much or more income per capita from oil as Venezuela, and few of them are known for having other sources of income (though with the possible exception of wartorn Libya they've certainly done more to encourage them and less to discourage them than the Venezuelan government). For the most part they are (like their non-oil rich neighbours) not exactly bywords for good governance or equitable wealth distribution, but large segments of their population are not on the brink of starvation as a result of oil prices being below early 2014 levels whilst still high by historic standards.

It stretches credulity even further to believe that Venezuela's disastrous economic policies were the necessary and unavoidable consequence of a oil company strikes and short-lived military coup 16 years ago which was as unsuccessful as Castro's own attempts to overthrow an elected government with tanks a decade earlier. Especially not with periodic coup attempts and more regular mass strikes being an occupational hazard of being a Latam president regardless of oil wealth or lack thereof.