China is the world's largest CO2 polluter, and Venezuela's entire economy is dependent on fossil fuels. This argument is false.

I wrote a counter argument to this a while back here: https://jaime-roberts.medium.com/is-socialism-the-solution-to-climate-change-bb2640b3de64

Capitalism does create 'over-production' due to the need to have 'surplus-value', but so does socialism. Socialism just redistributes over-production differently. The need is to stop mass production, not to change from capitalism to socialism.