Venezuela a failure of CAPITALISM.

[Sailor]

An oil industry failed state

California sure is.

[kudzu]

Well, you're saying those middle east nations are doing that NOW, but they weren't doing it before, back in 2015-2016 when the price was dropping, were they?

So it's a matter of timing.

Also, Venezuela has suffered 10 years of US sanctions against them, so that plays a major role in Venezuela's ability to diversify its economy. Saudi Arabia and Turkey don't have US sanctions on them, so investing and diversifying their economy with US investment is what makes it possible for them to do that.

Duh.

Saudi Arabia has slowly turned away from US investment over the past 15 years.

[kudzu]

OK, but here's the thing...you cannot expect Venezuela to diversify their economy if you're placing sanctions on them that would prevent them from doing so.

So all you're doing is perpetuating an issue so you can then complain about that, which is basically just masturbation.

Placing sanctions on VZ was just kicking them when they are down.

[LV426]

Saudi Arabia has slowly turned away from US investment over the past 15 years.

Right, but they get investment elsewhere too.

The sanctions on Venezuela prevent them from securing anywhere near that same investment, which is the point.

[LV426]

Placing sanctions on VZ was just kicking them when they are down.

Pretty much, yes.

[kudzu]

Pretty much, yes.

VZ has refined Iranian oil for a couple of decades so THAT put them in the crosshairs.

Currently VZ's production is falling below 1 million bpd..

Yergin said Venezuela's oil operations had been deteriorating so much under Maduro that they had already become much less important to world supply, even though Venezuela has the world's largest oil reserves. "The Maduro regime has been committing oil suicide," said Yergin.

Venezuela, Iran may be crushed by sanctions, but oil market has not been


https://www.cnbc.com/2019/03/11/vene...t-has-not.html

I like Yergin a lot.. Take what he says to the bank...

Just not too happy that Trump is punishing VZ.

[Getin the ring]

Placing sanctions on VZ was just kicking them when they are down.

who cares?

[Nordberg]

Truth is oil companies have bought up millions of leases, from the Gulf of Mexico, all over the west and Alaska. They do not open many of them. It increases their net worth and financial power. But they are not going to glut the market and cut profits. They just want more control over the market and taking leases off the market stops competitors from using them.
https://www.americanprogress.org/iss...-federal-land/

[kudzu]

Socialism failed its citizens in Venezuela. Their citizens are starving and leaving their country in search of food and economic opportunity.

“Just 25 percent of registered voters hold a positive view of Socialism, including 50 percent of self-described liberals, while nearly 60 percent hold a negative view. On capitalism, the numbers are nearly exactly reversed: 57 percent favorable, and 28 percent unfavorable. As for the overall role of government, this should be welcomed as a healthy sign by conservatives:”


Fizz poll

Oil markets are strictly about capitalism, how much it costs to get oil out of the ground and market demand.

[kudzu]

But at its core, it's a failure of capitalist global oil markets since everything is tied to the price per barrel.

They are doing an end run around Trump...…...

Reliance sends fuel from India, Europe to Venezuela to sidestep U.S. sanctions
Nidhi Verma, Marianna Parraga
4 Min Read


NEW DELHI/MEXICO CITY (Reuters) - India’s Reliance Industries is selling fuels to Venezuela from India and Europe to sidestep sanctions that bar U.S.-based companies from dealing with state-run PDVSA, according to trading sources and Refinitiv Eikon data.

Reliance had been supplying alkylate, diluent naphtha and other fuel to Venezuela through its U.S.-based subsidiary before Washington in late January imposed sanctions aimed at curbing the OPEC member’s oil exports and ousting Socialist President Nicolas Maduro.

At least three vessels chartered by the Indian conglomerate supplied refined products to Venezuela in recent weeks, and another vessel carrying gasoil is expected to set sail to the South American nation as well, according to the sources and data.

continued

https://www.reuters.com/article/us-v...e=businessNews

[kudzu]

Citgo Execs in Jail in VZ

(Reuters) - U.S. Republican Senators Ted Cruz and John Cornyn on Thursday pressed Venezuelan President Nicolas Maduro to release six executives from Houston-based oil company Citgo Petroleum that have been in jail in the country since 2017.

The former top employees of Venezuelan PDVSA’s refining subsidiary, most of whom are U.S. citizens, were arrested in late 2017 and accused of embezzlement and money laundering linked to talks to refinance Citgo’s debt.

Family members of Jose Luis Zambrano, Alirio Zambrano, Jorge Toledo, Tomeu Vadell, Gustavo Cardenas and Jose Pereira have asked the U.S. government to intervene, citing health concerns for the men.

continued

https://www.reuters.com/article/us-v...-idUSKCN1R229W

[rjhenn]

“Just 25 percent of registered voters hold a positive view of Socialism, including 50 percent of self-described liberals, while nearly 60 percent hold a negative view. On capitalism, the numbers are nearly exactly reversed: 57 percent favorable, and 28 percent unfavorable. As for the overall role of government, this should be welcomed as a healthy sign by conservatives:”

Fox poll.

Of course, that simply demonstrates the strong dependence on wishful thinking that the right depends on. Our own history, as in the 19th century, as well as world history, demonstrates that unrestrained capitalism produces massive poverty and despair, it's only when tempered with bits of socialism that we see widespread benefit. The right seeks to turn the U.S. into a banana republic, with a few very rich people running things and the rest living in poverty.

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[rjhenn]

You're saying the same shit as Maduro, the socialist dictator driving Venezuela into the ground. Duped and conned by a dictator.

Yes, you were, and are, duped and conned by a wannabe dictator.

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[kudzu]

Of course, that simply demonstrates the strong dependence on wishful thinking that the right depends on.

Our own history, as in the 19th century, as well as world history, demonstrates that unrestrained capitalism produces massive poverty and despair, it's only when tempered with bits of socialism that we see widespread benefit.

The right seeks to turn the U.S. into a banana republic, with a few very rich people running things and the rest living in poverty.

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You'd think they would get that by now.

[Heff]

Yes, you were, and are, duped and conned by a wannabe dictator.

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Unlike you I don't need a politician to tell me what is true or false.