Into the Night
Verified User
Random words. No apparent coherency.
Nation Building 101
- Thread starter QP!
- Start date
Into the Night
Verified User
QP!
Verified User
As i predicted the Oil Sector will resist spending their money to Nation Build in Venezuela so the oil can be retrieved profitably. Currently oil extraction costs are about $80 a barrel with the market paying $60 for each barrel. So a $20 loss per barrel.
IMO Big Oil will hold out knowing how much Trump wants this and that he does not care about tax payer money and they can squeeze him to guarantee and pay for almost 100% of all risks with tax payer money and he will cave.
...Any bid to significantly boost the country’s recent oil production of nearly one million barrels per day — much less reach 1970’s peak of close to four million barrels daily — would likely require tens of billions of dollars. Companies would have to rebuild or replace abandoned rigs, leaky pipelines and fire-ravaged equipment. Even beyond the physical challenge, industry representatives say they want to see political and legal reforms enabling them to move money in and out of the country as well as on-the-ground security before they make any big commitments.
“The industry was unified on Friday — with the meeting with the president — that there are going to be certain prerequisites that have to happen before there’s continued investment in Venezuela,”...
IMO Big Oil will hold out knowing how much Trump wants this and that he does not care about tax payer money and they can squeeze him to guarantee and pay for almost 100% of all risks with tax payer money and he will cave.
Exxon risks crossing Trump with truth-telling on Venezuela
Trump wants U.S. companies to invest at least US$100 billion rebuilding Venezuela’s beleaguered oil sector...Any bid to significantly boost the country’s recent oil production of nearly one million barrels per day — much less reach 1970’s peak of close to four million barrels daily — would likely require tens of billions of dollars. Companies would have to rebuild or replace abandoned rigs, leaky pipelines and fire-ravaged equipment. Even beyond the physical challenge, industry representatives say they want to see political and legal reforms enabling them to move money in and out of the country as well as on-the-ground security before they make any big commitments.
“The industry was unified on Friday — with the meeting with the president — that there are going to be certain prerequisites that have to happen before there’s continued investment in Venezuela,”...