Jackson Diehl: Obama is overlooking deep trouble in Venezuela

As oil revenue has plummeted in the past few months, Maduro has refused to address even the most extreme economic distortions — such as a black-market exchange rate for the dollar 350 percent higher than the highest of three official ones, or gasoline that sells for pennies a gallon. Instead he has delivered endless speeches denouncing the “economic war” he claims is being waged against Venezuela by the United States, and he has imprisoned top opposition leaders such as Leopoldo López, a U.S.-educated moderate leftist.