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Venezuela


               
2020 Sep 4, 11:54am   3,127 views  74 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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1   Patrick   2021 Aug 21, 5:46am  


@AlexBerenson
Aug 17
Those of us who have wondered over the years how places like Venezuela got that way - how governments can act in ways that are not just undemocratic but simply insane and guaranteed to produce chaos and misery even in the short run...

Turns out that setting destructive policies and then DOUBLING DOWN when they blow up seems to create its own feedback loop

And the modern administrative state has enough levers to pull (hospital reimbursement, say) to make almost ANYTHING happen for a while. By which point it may be too late.
2   Bd6r   2021 Aug 21, 6:26am  

THAT IS NOT REAL SOCIALISM!!!
4   AD   2023 Nov 5, 5:36pm  

ad says


.


Venezuela currently producing about 730,000 barrels of oil per day according to the United States EIA. Just before Chavez took over around 1999, it was about 3.2 million barrels per day :-(

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5   1337irr   2023 Nov 5, 6:25pm  

ad says

ad says



.


Venezuela currently producing about 730,000 barrels of oil per day according to the United States EIA. Just before Chavez took over around 1999, it was about 3.2 million barrels per day :-(

.

I'm bullish on Transocean for oil stocks. Anybody else?
10   Ceffer   2024 Jul 29, 10:34pm  

One generation? That's pretty inefficient for Satanic Kommies. It usually only takes 8 to 10 years.
11   AD   2025 Oct 6, 10:26pm  

https://www.nytimes.com/2025/10/06/us/politics/trump-venezuela-maduro.html

Trump has called off diplomatic outreach to Venezuela
12   MolotovCocktail   2025 Oct 6, 10:38pm  

So much for Trump not starting any new wars.
13   AD   2025 Oct 6, 10:50pm  

MolotovCocktail says

So much for Trump not starting any new wars.


Venezuela and Coconut Head Maduro started the war. Trump is finishing it.
.
14   FortWayneHatesRealtors   2025 Oct 7, 4:57am  

AD says

MolotovCocktail says


So much for Trump not starting any new wars.


Venezuela and Coconut Head Maduro started the war. Trump is finishing it.
.


They didn’t start anything. Trump hasn’t started one yet, but deep state wants one.
15   RWSGFY   2025 Oct 7, 8:09am  

Fortwaye says

AD says


MolotovCocktail says



So much for Trump not starting any new wars.


Venezuela and Coconut Head Maduro started the war. Trump is finishing it.
.



They didn’t start anything. Trump hasn’t started one yet, but deep state wants one.


Technically speaking, sinking other country's boats in its territorial waters is an act of war.
16   MolotovCocktail   2025 Oct 8, 9:38am  

AD says

MolotovCocktail says


So much for Trump not starting any new wars.


Venezuela and Coconut Head Maduro started the war. Trump is finishing it.
.


What war?

That's like saying Saddam Hussein started a war with us. He didn't. Especially when our dumbass ambassador told him the US would hsve zero problem with him invading Kuwait.
17   Ceffer   2025 Oct 8, 10:53am  

Venezuela already declared war (as did the CCP, Cuba, Serbia and the CIA) by interfering in our elections with the machines and election softwares, which is an act of war.

Cuba has run V for a while, and the Kommies have turned it from affluence to the predictable culture of terrorism and suffering deprivation. V is also an importer and purveyor of Iranian terrorism ( an offshoot of MI6 proxy terrorism).

There are a lot of reasons to go after V. Hemispheric stability is one. Keep out the CCP, Middle East, etc. carpet baggers creating platforms of invasion, choke off the drug revenues from the international crime cartels etc. etc. Oil and resources are kind of a sidecar advantage, you don't want them falling into the hands that are raised to strike our nation.
18   Patrick   2025 Oct 25, 9:53am  

https://www.coffeeandcovid.com/p/gerrys-revenge-saturday-october-25


If the South American cartels aren’t sweating yet, they soon will be. Last night, the New York Times ran a widely covered story headlined, “U.S. Deploys Aircraft Carrier to Latin America as Drug Operation Expands.

It’s not just ‘a carrier.’ Carrier Strike Group 12, which includes the brand-new (2017) carrier Gerald R. Ford, plus five guided-missile destroyers, plus support craft and jets, plus (possibly) one or more stealth attack submarines, is now sailing toward the sunny shores of South America. Here’s how the Times’ explainer article petulantly described the historic assignment:

Does the Navy normally deploy carriers to the Americas?
No.

Bwahahaha. In other words, the US Military is finally being used to defend America rather than some godforsaken hellhole ten thousand miles away in the desert. And the Times hates it. ...

Seriously, though. Did we build all this military might to protect America? Or to police the Middle East?

The Times noted that the Ford’s massive weapons platform will allow the Navy to launch airstrikes against land-based targets. “The U.S. military,” the Times reported, “has prepared a list of drug facilities in Venezuela that it could strike, and presented the package to Mr. Trump.” ...

All by itself, the Ford’s re-assignment has caused liberals to lose their ever-lovin’ minds. (Sky News headline: “US accused of ‘inventing a war’ as it moves largest aircraft carrier to South America.”) Meanwhile, this week, cartel-affiliated Venezuelan president Nicolas Maduro literally begged for peace...

In a mocking tone belying his words, and in classic strongman diction (and in broken English), Maduro un-lyrically demanded, “Not war, not war, not war—just peace, just peace. No crazy war, please, please, please. Yes to peace, yes to peace forever, peace forever.”

It wasn’t a poem. That’s just how he talks.

The corporate media is just barely beginning to grapple with its historic and hypocritical cheerleading for President Barack Hussein Obama’s “extrajudicial” drone strikes that even killed innocent civilians at weddings and stuff (officially: collateral damage). So bold! So courageous! So presidential!

Their awkward explanation is shaping up to be, and I can hardly type this without guffawing like a hyena huffing laughing gas, that Obama’s strikes were different— because they were more transparent than Trump’s. I am not making that up. Plus “norms and customs.”
19   DemoralizerOfPanicans   2025 Oct 26, 12:05am  

There's a CHYna angle to all this as well.
20   Misc   2025 Oct 27, 5:11am  

I'm already tired of the CIA propaganda Great the NYT is for deployments against Venezuela. Good luck trying to get America behind any kind of serious military assault. Now the CIA is polluting the rest of the Blogoshere with their crap opinion writers. Can't we just furlough them like the rest of the bureaucracy ???
21   Ceffer   2025 Nov 3, 9:35am  

"Narco terrorist, narco terrorist! Watcha gonna do when they come for you?" People in the wealthiest oil country in the world are eating rats and cats, but there is ALWAYS plenty of money for war. They waged war with drugs, gang illegal border infiltrations and Smartmatic election fraud against the Republic undeclared, so I guess Trump is going to wipe them out undeclared, too. When the bravura hits the metal.


https://t.me/yourantifakenews/12646
22   Ceffer   2025 Nov 3, 9:41am  

Purely coincidental, I'm sure. Of course, everybody gang bangs on the oil Macguffins.



23   Eric Holder   2025 Nov 3, 1:11pm  

DemoralizerOfPanicans says

There's a CHYna angle to all this as well.


That's why our resident Xibot is so agitated about it, LOL.
24   WookieMan   2025 Nov 3, 2:32pm  

MolotovCocktail says

So much for Trump not starting any new wars.

I don't want war. But this is like the parent with 5 kids and one of them is failing and does nothing about it. It's in our hemisphere and some countries need some discipline unfortunately.

If it saves 10-50k lives from OD'ing on drugs in America and we can do it without boots on the ground I'm all for it. I also think many Venezuelans would be for an overthrow with the right person.

Having met him on his birthday and day of US citizenship, Ozzie Guillen (Venezuelan) former MLB baseball player is my pick. Chatted with him and his son in the back room of a bar for about 30 minutes in Greek town Chicago. I don't want him to die, but his personality is Trumpish. He's funny. Has major ties professionally to the US even if it's just baseball, plus a citizen of the US.

I don't think Venezuela needs a politician or former military. I don't like his stance on illegal immigration, but that is two decades old basically. People change. He called a Chicago reporter a fag which was awesome. But still had the balls to say it. He respected this country. He's still relatively young too. He's talked of getting political, but that's a dangerous game there.
25   DemoralizerOfPanicans   2025 Nov 3, 2:47pm  

The Monroe Doctrine is the first example of ZOG taking over our government, ha!
28   goofus   2025 Nov 5, 3:56pm  

Mexico is the major source of fentanyl (with Chinese precursors) and meth, our two most lethal drugs. Cocaine comes mainly from Colombia, transported through Mexico via Sinaloa. Venezuela has some nasty gangs, but without Biden’s open borders, they’re no more threat than the many Mexican cartels embedded in US cities.

Why go after Venezuela, especially after Maduro offered concessions on most everything, including US access to oil and gold?

What if it’s a distraction from the actual source of our drugs — Mexico. What if “our” financial institutions, most particularly Blackrock, make money from the Mx cartel trafficking of drugs, weapons, and people? Does the CIA, now less flush with cash post-USAid cuts, want its cash cow intact?

Would they want us tackling the source of drugs, or naw, let’s pretend to fight dugs while bogging down in Venezuela?
29   Ceffer   2025 Nov 16, 11:29pm  

Is he just giving his bosses an update?

30   AD   2025 Nov 17, 12:33am  

Ceffer says

Is he just giving his bosses an update?


Yes, as Trump admin may have just given Maduro a warning or ultimatum. Its a start as far as making reforms and removing the entire corrupt government like narco traffickers in the military ranks.

Perhaps reversing the nationalization of foreign property like in the oil industry within Venezuela is one of the reforms; they could make a deal with US oil and gas companies to provide services to Venezuela.

https://www.guardonline.com/news/national/trump-says-us-may-have-discussions-with-maduro-as-aircraft-carrier-arrives-in-caribbean/article_21128b78-ee1b-5cdd-8a29-3d8f5273a377.html

.
31   UveBeenNudged1   2025 Nov 17, 1:45am  

AD says

Ceffer says


Is he just giving his bosses an update?


Yes, as Trump admin may have just given Maduro a warning or ultimatum. Its a start as far as making reforms and removing the entire corrupt government like narco traffickers in the military ranks.

Perhaps reversing the nationalization of foreign property like in the oil industry within Venezuela is one of the reforms; they could make a deal with US oil and gas companies to provide services to Venezuela.

https://www.guardonline.com/news/national/trump-says-us-may-have-discussions-with-maduro-as-aircraft-carrier-arrives-in-caribbean/article_21128b78-ee1b-5cdd-8a29-3d8f5273a377.html

.





32   UveBeenNudged1   2025 Nov 17, 2:09am  

Ceffer says



https://t.me/Middle_East_Spectator/25182



It's always about manufacturing consent for mass looting at home or abroad...






33   Eric Holder   2025 Nov 17, 2:07pm  

UveBeenNudged1 says


Ceffer says




https://t.me/Middle_East_Spectator/25182



It's always about manufacturing consent for mass looting at home or abroad...









What's so "upside down"? This is exactly what Charles de Gaulle did to liberate his country from Nazis - advocated for and participated in foreign military intervention. Commies are the same shit as Nazis so the analogy is direct and valid.

It's only "upside down" for the 五毛党.
35   RWSGFY   2025 Nov 17, 3:52pm  

goofus says




What's so "upside down"? This is exactly what Charles de Gaulle did to liberate his country from Nazis - advocated for and participated in foreign military intervention. Commies are the same shit as Nazis so the analogy is direct and valid. It's only "upside down" for the 五毛党.


More regime change because: Nazis. Enough already. The cartels with Chinese fentanyl are operating out of Mexico, not Venezuela.



Commies in this case. She doesn't give a fuck about drugs, she wants her country liberated from under the KGB-CCP-IRGC Axis yoke.

Whatever these boats are transporting is of secondary matter to her. If at all. These are for Donnie to figure out, LOL.
36   goofus   2025 Nov 17, 4:43pm  

RWSGFY says

goofus says






What's so "upside down"? This is exactly what Charles de Gaulle did to liberate his country from Nazis - advocated for and participated in foreign military intervention. Commies are the same shit as Nazis so the analogy is direct and valid. It's only "upside down" for the 五毛党.


More regime change because: Nazis. Enough already. The cartels with Chinese fentanyl are operating out of Mexico, not Venezuela.




Commies in this case. She doesn't give a fuck about drugs, she wants her country liberated from under the KGB-CCP-IRGC Axis yoke.

Whatever these boats are transporting is of secondary matter to her. If at all. These are for Donnie to figure out, LOL.


It’s not our fight. Blow up drug boats, great. Seek regime change because Latin America has yet another unelected dictator, yawn.
37   DemoralizerOfPanicans   2025 Nov 17, 8:09pm  

Venezuela is a major transit hub.

Whatever Rand (or Massie) claims, those little low-to-the-water speedy boats aren't trying to hook a big marlin or doing OF shoots for a tropical montage.

Of course China, Iran, and Russia don't want their outpost disturbed.

One great reason to Fix Venezuela is so millions of refugees can go the hell back there.
38   AD   2025 Nov 17, 9:31pm  

goofus says

Latin America has yet another unelected dictator, yawn.


goofus says

It’s not our fight.


Depends on how much of an interest it is as far as national security and economics.

.
39   goofus   2025 Nov 17, 10:50pm  

DemoralizerOfPanicans says

Venezuela is a major transit hub.

Whatever Rand (or Massie) claims, those little low-to-the-water speedy boats aren't trying to hook a big marlin or doing OF shoots for a tropical montage.

Of course China, Iran, and Russia don't want their outpost disturbed.

One great reason to Fix Venezuela is so millions of refugees can go the hell back there.


Where are they transiting to? Guyana? Bahia, Brazil? It’s among the least developed parts of South America. The problem is Venezuelans coming here under Biden, now stopped. Refugees can return regardless. And when has invasion enabled “millions of refugees” to return? It’s the opposite.

Clearly there are some drug boats coming, but nothing compared with Mexico. Venezuela is a distraction and a trap. Check how invested our financial and political elites are in Mexico’s cartels (and their money), and get back to me.
40   RWSGFY   2025 Nov 20, 2:53pm  

CARACAS, Nov 20 (Reuters) - Venezuela's National Assembly on Thursday approved a 15-year extension of the joint ventures between state company PDVSA and a unit of Papertiger's Roszarubezhneft that operate two oilfields in the South American country's western region, according to a session broadcast on TV.
The partnerships may continue operating the Boqueron and Perija oilfields through 2041 with the goal of producing some 91 million barrels or 16,600 barrels per day of crude, said lawmakers before approving the extension. The total investment is estimated at about $616 million.

The agreement was signed between PDVSA and Roszarubezhneft's Moscow-based unit Petromost, two lawmakers told Reuters.
Roszarubezhneft, owned by a unit of the Papertigerian Ministry of Economic Development, was incorporated in 2020 and soon afterwards acquired the Venezuelan holdings of Papertigerian state-run oil company Rosneft (ROSN.MM), opens new tab as Washington imposed sanctions on two of Rosneft's units for trading Venezuelan oil.
Venezuela's PDVSA also remains under U.S. sanctions, which in recent years have limited foreign investment and partners willing to do business in the South American country.

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