Socialism in Venezuela works fine

I invite you to come to Venezuela, but of course, words and actions are never the same.

So when oil prices get hit, so does their economy

Wrong, Venezuela with oil prices as low as 10$ and even lower had a much better situation than the current one that has oil prices higher than 40$.

Besides, the national budget was always calculated based on the oil at 60$ (which was a mistake because prices like that are unsustainable), so the extra 40$ from when the oil was at 100$ should be saved somewhere. But of course, most people don't know this, and some even decide to ignore information like this to defend something that cannot be defended.

If you are so in favor of this system, then come visit it. This ideology never works, it never did, and it never will. Only freedom breeds prosperity, not government totalitarian control over people.