Cuba has limped along for fifty years on a lot less. Venezuela has huge oil resources. Hard, even for a socialist, to screw that up. Of course, Venezuelans don't need a boat to escape.
“Of course, Venezuelans don’t need a boat to escape.”
Neither did the East Germans.
I'm sure you're right - the reserves will not be screwed up. But they will remain just that - reserves - as he screws up the companies and technology needed to get it out of the ground and turn the oil resources into the cash resources needed to fund his utopia.