For example, while Chávez’s intention was to double Venezuela’s oil production to six million barrels per day by 2012 – a feasible goal, given that the country has the world’s largest oil reserves – his penchant for expropriation and for firing able dissenters caused output to fall by one-fifth. While Venezuela remains mired in economic malaise, its allies – China, Russia, Brazil, and OPEC – have raised output by 14 million barrels per day, laughing all the way to the bank.