Maduro and wife on vacation
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SlowUpTake
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Still kinda curious what this all has to do with Epstein.
Roses In The Vineyard
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What a great start to the year.
just me
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Venezuela was a founding member of OPEC with Iran, Iraq, Kuwait and Saudi Arabia. Its struggles with electricity production have repeatedly hampered mining and oil operations.
The country was producing as much as 3.5 million barrels per day of crude in the 1970s, which at the time represented over 7% of global oil output. Production fell below 2 million bpd during the 2010s and averaged some 1.1 million bpd last year or just 1% of global production. That was roughly the same production as the U.S. state of North Dakota. copied Reuters
While Venezuela formally nationalized its oil industry in the 1970s, beginning in the early 2000s under President Hugo Chávez, Venezuela moved beyond its earlier state ownership model and launched a wave of expropriations that fundamentally reshaped its oil sector. Foreign operators were forced into minority positions alongside Venezuela’s national oil company, PDVSA, or saw assets seized outright. Major U.S. firms, including ExxonMobil and ConocoPhillips, ultimately exited the country and pursued international arbitration over uncompensated takings. copied Forbes
Maduro’s capture represents a major geopolitical escalation, but the underlying story is not new. Venezuela’s crisis did not begin with sanctions or military action. It began when a technically complex oil industry was stripped of the partnerships and investment required to function.
Venezuela’s vast oil reserves remain real, but reserves alone do not produce prosperity. Without technology, capital, expertise, and a sufficiently high oil price, the oil stays in the ground. That reality has shaped Venezuela’s economic collapse, its international disputes, and the central role oil continues to play in events unfolding today. Forbes
I would want a vacation away from all that, too. The old adage "We can do this on our own" goes well when prepared. It can destroy from within when not prepared. The future holds hopes of Chevron and the likes helping with the restructuring and operation of Venezuela's oil reserves. This should help the country and their citizens obtain their old standing and production, if the money is appropriated properly.
Being there is a court case going on, I will not comment about those things at this time.
The country was producing as much as 3.5 million barrels per day of crude in the 1970s, which at the time represented over 7% of global oil output. Production fell below 2 million bpd during the 2010s and averaged some 1.1 million bpd last year or just 1% of global production. That was roughly the same production as the U.S. state of North Dakota. copied Reuters
While Venezuela formally nationalized its oil industry in the 1970s, beginning in the early 2000s under President Hugo Chávez, Venezuela moved beyond its earlier state ownership model and launched a wave of expropriations that fundamentally reshaped its oil sector. Foreign operators were forced into minority positions alongside Venezuela’s national oil company, PDVSA, or saw assets seized outright. Major U.S. firms, including ExxonMobil and ConocoPhillips, ultimately exited the country and pursued international arbitration over uncompensated takings. copied Forbes
Maduro’s capture represents a major geopolitical escalation, but the underlying story is not new. Venezuela’s crisis did not begin with sanctions or military action. It began when a technically complex oil industry was stripped of the partnerships and investment required to function.
Venezuela’s vast oil reserves remain real, but reserves alone do not produce prosperity. Without technology, capital, expertise, and a sufficiently high oil price, the oil stays in the ground. That reality has shaped Venezuela’s economic collapse, its international disputes, and the central role oil continues to play in events unfolding today. Forbes
I would want a vacation away from all that, too. The old adage "We can do this on our own" goes well when prepared. It can destroy from within when not prepared. The future holds hopes of Chevron and the likes helping with the restructuring and operation of Venezuela's oil reserves. This should help the country and their citizens obtain their old standing and production, if the money is appropriated properly.
Being there is a court case going on, I will not comment about those things at this time.