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Venezuela


               
2020 Sep 4, 11:54am   8,556 views  348 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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343   Patrick   2026 Jan 8, 10:22am  

https://truthsocial.com/@realDonaldTrump/posts/115856078669121098


I have just been informed that Venezuela is going to be purchasing ONLY American Made Products, with the money they receive from our new Oil Deal. These purchases will include, among other things, American Agricultural Products, and American Made Medicines, Medical Devices, and Equipment to improve Venezuela’s Electric Grid and Energy Facilities. In other words, Venezuela is committing to doing business with the United States of America as their principal partner – A wise choice, and a very good thing for the people of Venezuela, and the United States. Thank you for your attention to this matter!


What oil deal?
344   Patrick   2026 Jan 8, 1:54pm  

https://www.coffeeandcovid.com/p/pygmalion-thursday-january-8-2026


The revived Monroe Doctrine is crushing it. Already, other narco-states in the American hemisphere are paying exceedingly close attention to what just happened in Venezuela. They don’t want it to spread. Namely, President Trump reported yesterday that Colombia’s president isn’t just waiting around for the midnight caller; he phoned the White House with a whole new and more helpful tone...

President Trump also made several dramatic announcements about Venezuela itself. First, and suddenly, our former hemispheric adversary will now, for some reason, be spending their vast oil revenues right here at home, in the United States, instead of paying the Russians and Chinese for military hardware...

Not just that. Also yesterday, President Trump dramatically announced that Venezuela would be “donating” to the U.S. millions of barrels of high-quality crude oil (worth billions), immediately. Thank you for your attention to this matter.

It’s still not over. In any other news cycle, this would be all anyone was talking about. The Wall Street Journal poured out a story yesterday headlined, “Trump Team Works Up Sweeping Plan to Control Venezuelan Oil for Years to Come.” The subheadline, get this, almost casually added, “President believes the effort could lower oil prices to his target of $50 a barrel.”

Fifty dollars a barrel.

“If successful,” the Journal modestly explained, “the plan could effectively give the U.S. stewardship of most of the oil reserves in the Western Hemisphere, when factoring in deposits in the U.S. and other countries where U.S. companies control production.” That’s not all. “It could also fulfill two of the administration’s primary goals,” the article continued, “namely, to box Russia and China out of Venezuela and to push energy prices lower for U.S. consumers.”

In other words, the Journal just described the Monroe Doctrine to a “T”: (1) stewardship of most of the oil reserves in our Western Hemisphere, (2) kicking China and Russia back to their own hemispheres of influence, and (3) making life more affordable for Americans. This also, not coincidentally, describes “America First.”

Along those lines, the military executed two more dramatic missions yesterday, all buried in the avalanche of news. The Washington Post sailed out the story under the headline, “U.S. seizes two tankers as Venezuelan oil blockade intensifies.” The sub-headline noted that, “In separate operations, a Russian-flagged vessel was boarded in the North Atlantic and another ship was apprehended near the Caribbean.”

The Russian-flagged oil tanker (now owned by the U.S.) initially sailed out of Venezuela with a shady fake registration. After being trailed by suspicious Coast Guard vessels to the Arctic, the tanker’s crew hastily painted a Russian flag on its bow. Later, Moscow advised that the Bella I was being escorted by a Russian nuclear submarine. The Coast Guard intercepted it anyway, without incident.

The Coast Guard was legally justified in at least two ways. First, it enforced Venezuelan sanctions, which were imposed or continued by Democrats during the Biden Administration. Second, maritime law allows seizure of improperly registered vessels. The post-hoc effort by the Russians to fix the fake registration using a couple buckets of paint proves the Bella (renamed in mid-cruise to the Marenara, a type of bland Italian pasta sauce).

Specifically, and allowing that I’m not a maritime lawyer (trust me, they are certifiably insane), UNCLOS Article 92 says that a ship that changes nationality during a voyage (if for other purposes than a true sale) is a stateless ship that can be boarded by any state. So.
345   Ceffer   2026 Jan 8, 2:46pm  

Who needs the Epstein files when you have the chicken shitted Colombian narcos ratting out the blackmail threats?

https://t.me/TheIslanderNews/67344
346   Ceffer   2026 Jan 9, 12:45am  

I think this is closest to the 'truth' (whatever that is). So, now, we get endless theater around it. I wonder if they brought Maduro's stylist and makeup artist along.

347   Ceffer   2026 Jan 9, 12:49am  

The QTRS editorials are interesting if nothing else. Again, breaking up the CCP means breaking up the Rockefeller/Rothschild/City of London Eastern flank.

https://t.me/qthestormrider777/32037

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