Continued Declines in Venezuelan Petroleum Industry

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In Venezuela, the petroleum industry has been under the control of the military for some time now. This has evolved into intimidation of workers like cargo inspectors whose job is to be an independant third party verifying both quantity and quity of a shipment (I worked my way through college as a cargo inspector) and imprisoning workers on charges of sabotage when poorly maintained equipment fails to perform properly.

https://mobile.reuters.com/article/amp/idUSKCN1OP0RZ
 
Venezuela produces high sulfur content crude. The US can refine it but not all countries can. Thus they cannot sell to just any country.

The country is in turmoil at the least but more likely a civil war.

I do not see things getting good for the country for awhile, but I hope the US does not intervene. The US screws up most countries we try and help get to democracy as we typically have no exit plan.
 
Originally Posted by Donald
Venezuela produces high sulfur content crude. The US can refine it but not all countries can. Thus they cannot sell to just any country.

The country is in turmoil at the least but more likely a civil war.

I do not see things getting good for the country for awhile, but I hope the US does not intervene. The US screws up most countries we try and help get to democracy as we typically have no exit plan.


I do not think we would try to get democracy in there if we go in there. However, it is not something popular here in the US.

People in Latin America don't like the American democracy, they have their own versions. Trust me, I have lived in Latin America. For that simple reason, we might think we screw up those countries. In those countries people don't obey the law and as Americans we love obeying laws, suing, paying taxes, trials, etc, etc. In those countries, you try and do that, you gonna get used faced. I have seen it.
 
I suggest they leaders just sell it to the Red Chinese they don't give a …. about their politics or if they are stealing the country blind.
 
Originally Posted by JohnnyJohnson
I suggest they leaders just sell it to the Red Chinese they don't give a …. about their politics or if they are stealing the country blind.

It's not as simple as that.
Before military basically took over, family of Hugo Chavez ruled the industry, which was very lucrative when barrel was $148. However, now when barrel is $60, the US is producing ever more and using ever less, Chinese might not be willing to pay even those $60.
This will eventually ended Maduro being shot like Nicolae Ceausescu in Romania.
 
What the Chinese have going in Angola is insane - they cut all these "oil for infrastructure" deals - and everywhere you look another high rise being built - and like the others will have few/no tenants ...
I'd rather see cheap labor things made in Mexico than China ...
 
Originally Posted by 4WD
What the Chinese have going in Angola is insane - they cut all these "oil for infrastructure" deals - and everywhere you look another high rise being built - and like the others will have few/no tenants ...
I'd rather see cheap labor things made in Mexico than China ...

When you take into consideration transport cost, and thr fact that 51% of joint venture is not controlled by the communist party, Mexico is chraper than China. Take into consideration that Xi just got himself life tenure, that party is becoming increasingly paranoid, that now they will do that social behavio performance thing, you have recipe for another Tienamen square once they get hut by economic crisis. Generations in China only know for one thing: economic boom. We will see how they deal with economic decline.
 
"Take into consideration that Xi just got himself life tenure" ...

This should have been the biggest wake up call ever ...
 
Originally Posted by JohnnyJohnson
I suggest they leaders just sell it to the Red Chinese they don't give a …. about their politics or if they are stealing the country blind.

No different that the politicians we as a nation elect.
 
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