As the Trump administration considers imposing sanctions on Venezuela by blocking their oil from American ports, it is worth considering whether or not such a tactic will actually work. The plurality of evidence suggests no, it will not. In all likelihood sanctions on Venezuelan oil will do more harm than good, and will end up punishing the wrong people. To be clear: Venezuela is an awful place to live and the government is squarely to blame. The regime’s corruption, incompetence, and zealous ideological blindness has transformed South America’s richest economy into a poverty-stricken...