Q.  What do Alaska and Venezuela have in common? Answer.  Both have economies that are dependent on volatile oil revenues.  Both have insufficiently diversified their economies.  Both overspent on social programs during times of high oil prices, ensuring that their economies would be unsustainable during times of low prices.  Both now spend more that their economies can afford.  Both place greater emphasis on creating new liabilities than attracting new investment.  Leaders of Venezuela and Alaska are attracted to socialized control of energy resources.   Both are experiencing fiscal crisis. Foreign [...]