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Venezuela


               
2020 Sep 4, 11:54am   5,227 views  133 comments

by AD   follow (0)  

Venezuela’s oil industry—rich in reserves, a crucial Allied resource in World War II, a founding member of OPEC—is grinding toward a halt.

Venezuela has greater oil stores than any other country. But after years of corruption, mismanagement and more recently U.S. sanctions, its oil output has dropped to a tenth of what it was two decades ago.

From Lake Maracaibo in the west to the Orinoco oil belt in the east, abandoned wells rust in the sun as looters scavenge the metal. The last drilling rig still working in Venezuela shut down in August. The country is on course, by the end of this year, to be pumping little more oil than the state of Wyoming.

“Twenty percent of the world’s oil is in Venezuela, but what good is it if we can’t monetize it?” said Carlos Mendoza, an ambassador under the late socialist president Hugo Chávez, who enjoyed an oil bonanza when prices were high but starved the industry of investment and maintenance funds.

“We’re entering a post-oil era,” Mr. Mendoza said.

While petroleum is under stress world-wide from climate-change concerns and the rise of wind and solar power, what is happening to oil in Venezuela goes far beyond the global industry’s troubles. It is an existential crisis for a country long dependent on oil for nearly all of its hard-currency earnings.

This year, Venezuela’s oil income will probably fall below the limited funds coming in from other sources such as gold mining and overseas workers’ remittances, said Luis Vicente León, an economist and pollster. Venezuela’s economy is likely to shrink more than 30% this year from the oil collapse plus the pandemic, says Ecoanalitica, a Caracas business consulting firm.

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121   RWSGFY   2025 Dec 20, 1:22pm  

What's next? Let me guess: you'll be telling me Pukin is not a pedo?
122   The_Deplorable   2025 Dec 20, 1:58pm  

Earlier I wrote: "Today's Russia is not the Soviet Union."

RWSGFY says
"It absolutely is: same KGB kunts in power, same worshipping of Stalin, even their fucking FM is prancing around in USSR sweater."

More nonsense.

Today Russia at the UN is called "The Russian Federation."

The name Union of Soviet Socialist Republics (USSR) ceased to exist in December 1991.
124   HeadSet   2025 Dec 21, 6:19am  

Are we the pirates? By enforcing sanctions?
125   FortWayneHatesRealtors   2025 Dec 21, 7:41am  

WookieMan says

FortWayneHatesRealtors says


Black gold is a curse.

Not really. The curse is the people who lead those countries and take it all for themselves quite literally. Then screw their citizens over via poor government because they got theirs.

Getting Venezuela on the right page is a win for its citizen and the world. Not sure what gas prices are on the west coast, but just drove through a suburban town and it was $2.79/gallon. Now imagine if VZ got their foot out of their own ass how much that would benefit our gas prices and prices on everything.

Either way someone else will step in and reap the benefits. Would you rather have it be someone from overseas? Because that's the alternative. Also you're not typing on whatever device you have without oil. It's a necessary evil that some ass holes take advantage of.


You seriously think we are altruistic and trying to improve Venezuela?
126   FortWayneHatesRealtors   2025 Dec 21, 7:42am  

HeadSet says


Are we the pirates? By enforcing sanctions?


We created those sanctions. This is Trump pressure tactics. He isn’t going to war, but show and pressure he will put on will be huge.

And how is common piracy any different from ours? We want their stuff, we simply take it with guns, and call it fair.
127   Tenpoundbass   2025 Dec 21, 7:47am  

The American/Globalist Communist can NOT have unlawfully elected sitting leaders. They must not be legitimized by entertaining that these strongarm dictators, are lawfully elected leaders. They provide material and psyop support to help then topple other free nations.

Fuck Maduro and his poison peddling go fast boats. I wont abide by the Communist getting rich off our youth's deaths.
Grow some balls god damn it, quit being such pussies, you wont get quarter for crying when they take over here.
128   UveBeenNudged1   2025 Dec 21, 1:21pm  

HeadSet says

Are we the pirates? By enforcing sanctions?



130   Ceffer   2025 Dec 30, 1:11pm  

So far, it's a relatively soft war with strategic aim at sources of income. The fleets deployed are blockades to foreign interference. The oil fields without storage or shipping capacity will have to stop pumping and their facilities will rapidly deteriorate. Oil wells can't stop pumping without infrastructure declining, requiring sometimes a year or years to replace.

So, two sources of income, drugs and oil, are shot to pieces with little land war at all. Old fashioned embargoes work. Comms disruptions breed confusion in the ranks, and the bounty on Maduro means he can't feel secure with his own generals.

It's warfare by digestion, blanketing and dissolution of the regime's lifebloods, as well as their utility to their Cuban, Iranian, Intel, Globalist and Chinese controllers and patrons.
131   FortWayneHatesRealtors   2025 Dec 30, 1:17pm  

Ceffer says

So far, it's a relatively soft war with strategic aim at sources of income. The fleets deployed are blockades to foreign interference. The oil fields without storage or shipping capacity will have to stop pumping and their facilities will rapidly deteriorate. Oil wells can't stop pumping without infrastructure declining, requiring sometimes a year or years to replace.

So, two sources of income, drugs and oil, are shot to pieces with little land war at all. Old fashioned embargoes work. Comms disruptions breed confusion in the ranks, and the bounty on Maduro means he can't feel secure with his own generals.

It's warfare by digestion, blanketing and dissolution of the regime's lifebloods, as well as their utility to their Cuban, Iranian, Intel, Globalist and Chinese controllers and patrons.


Trump can’t start an actual war without Congress. He can only make scary faces and pirate stuff.
132   Ceffer   2025 Dec 30, 1:31pm  

FortWayneHatesRealtors says

Trump can’t start an actual war without Congress. He can only make scary faces and pirate stuff.

Doesn't seem like that has stopped any prior Presidents. This is Monroe Doctrine embargo, smother, strangle, sanction strategy, until somebody on the inside of the cauldron begs for mercy and eliminates the sources of attacks on our country.
133   FortWayneHatesRealtors   2025 Dec 30, 1:41pm  

Ceffer says

FortWayneHatesRealtors says


Trump can’t start an actual war without Congress. He can only make scary faces and pirate stuff.

Doesn't seem like that has stopped any prior Presidents. This is Monroe Doctrine embargo, smother, strangle, sanction strategy, until somebody on the inside of the cauldron begs for mercy and eliminates the sources of attacks on our country.


It did stop. Without declaration he can’t invade. All he can do now, he’s doing.

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