The real story about our path toward becoming Venezuela seems a lot simpler.
It is The Resource Curse- the prime basis on how the concentration of oil wealth led to a society that never worked.
The other part of the Venezuela thing is that those old Spanish Catholic societies predate The Reformation and stuff like Democracy was never in the DNA.
The Federalist Society is working that side of the game for us here.
So, what you're saying is -- if we nationalized our US oil reserves, contracts, licenses, companies, then we could finance the progressive agenda, and experience the boom that Venezuela experienced. But we can see how that is turning out.