One of the many peculiar characteristics of Venezuela is that it is a nation in which the government does not depend on its citizens but rather the citizens depend on the government. Normally, governments must tax citizens in order to function because they are service institutions whose activities do not produce enough income to allow them to function.
The many activities of an ideal state include foreign relations, internal and external security, justice, etc, all of which are necessary but do not generate revenue. On the contrary, they generate substantial expenses that must be covered by taxes.
In order to be collected, these taxes must be justified and approved by the legislative bodies. Taxes reduce the income of the citizens who have less money to generate wealth. It is well established that the less taxes are collected, the more income the state has, as the citizens generate more wealth.
In Venezuela it is the opposite: citizens depend on the state. The wealth of the nation in the ground and its owner has been the state since the reign of Phillip II. Until oil was discovered we were a very poor nation. Since the discovery of oil we became a world power. But because oil wealth is managed by the government, instead of generating higher profits that would allow to diversify the income, all that power and wealth in the hands of governments has been squandered and mismanaged disastrously.
These last fifteen years are flagrant proof of this. The nation with the highest oil revenues is impoverished and even worse, the society is in shambles.
The most logical approach would be that the citizens have ownership of the subsoil and the wealth of the oil and other raw materials, as well as of the entire industrial infrastructure that was created by this wealth.
This requires the transparent and fair privatization of all the state enterprises and returning property to their rightful owners, the Venezuelan people.
There are different mechanisms with which to do this, including granting rights or shares, sale by public auction, etc., but the most important issue is that the state cease to interfere in the administration of such property and act only was a watchdog and collect the taxes that apply, as approved by the citizens.