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Venezuela


               
2020 Sep 4, 11:54am   9,373 views  362 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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356   Ceffer   2026 Jan 10, 12:53pm  

Targeting also the City of London offshore banking nexus in the Caribbean that supports the criminal enterprises.

357   Ceffer   2026 Jan 10, 1:00pm  

A description of some of the advanced tech used in Venezuela. All defenses were unilaterally jammed. Just twenty soldiers took on the V defenses and rendered them helpless. It was a demonstration of force with massive fear and intimidation multipliers. Those twenty took on hundreds without getting touched.





358   Tenpoundbass   2026 Jan 10, 1:04pm  

The_Deplorable says






I have been waking up every day since Chavez came in power and year after year, the sitting president tolerates it as the new normal. While Venezuela isn't my business. Communism creeps, and the more Venezuela has festered the more it has creeped into the United States. Now my biggest fear is Trump wont or wont be able to finish the job(if Rand Paul gets his way).

Trump should have had his CIA and special forces feeding a real resistance information and had air drops while the radar system was down and the Communist regime was hiding and reeling. There not being a resistance to capitalize on the communist regime being shell shocked for the first 48 hours, and they WERE. They laid low and didn't make a sound for two days. A well planed organized resistance that retrieved the airdrop weapons and hardware could have stormed the bases and armories and cleaned up.

We must always be vigilant and on the ready against Communism in this hemisphere.

I'm still not happy that Cuba wasn't met with a ass whooping for having Russian submarines moor in their ports.
359   Patrick   2026 Jan 10, 4:45pm  

https://www.chrisbrunet.com/p/the-biggest-winner-in-venezuela-paul


How Paul Singer Stole Venezuela’s Crown Jewel

About a month ago, on November 25, 2025, a US judge approved the sale of Citgo Petroleum Corporation (CITGO), a subsidiary of Venezuela’s a state-owned oil company, to Amber Energy, a subsidiary of Paul Singer’s Elliott Management.

Venezuela rejected the legitimacy of the sale, with the Maduro administration calling it “fraudulent process,” a “barbaric theft, ”and “the theft of the century.”

The sale price for CITGO was $5.9 billion, with the proceeds flowing to creditors of the Venezuelan state. The acquisition is expected to be finalized sometime next year, pending regulatory approval... Maduro was the obstacle blocking that approval, but now he’s gone.

On a fundamentals basis, CITGO is worth far more than what Singer paid for it. Valuations during the auction ranged from $10 billion to $20 billion, depending on methodology and assumptions. Evercore, the investment bank advising the court-supervised sale, placed CITGO’s value at roughly $13 billion, while the Venezuelan government has argued the company is worth north of $20 billion.

The reason CITGO sold for a fraction of its real value is simple: U.S. sanctions and non-recognition of the Maduro government made Venezuela radioactive to investors. Most serious buyers would not touch the asset. Financing dried up. The auction never became competitive. What should have been a sale turned into a clearance event, with one vulture left standing.

What great luck for Paul Singer, then, that only one month after his purchase was approved, Trump invaded Venezuela and turned it into a puppet state, declaring that all the oil now belonged to American investors!


https://www.commondreams.org/news/paul-singer-venezuela


Singer himself has acted as a financial attack dog for Trump during his first year back in office. In June, he contributed $1 million to fund a super PAC aiming to oust Rep. Thomas Massie (R-Ky.), who'd become Trump's leading Republican critic over his Department of Justice's refusal to release its files pertaining to the billionaire sex trafficker Jeffrey Epstein.


Huh.
361   AD   2026 Jan 10, 11:27pm  

Ceffer says






Yep, there is a lot more to this then cutting the snake's head off (i.e., extradite Maduro and his wife).

This tells me how much the Chavezistas are entrenched in Venezuela such as its military and government since Chavez came into power around 26 years ago.

Same with Iran as likely at least 30% of that country are militant Islamists.

You have to go in and deNazi-like fumigate those countries.
362   Ceffer   2026 Jan 11, 6:47pm  

Question is, who were the Cubans who were killed? Maduro's handlers and their Deep State shadow governers of Venezuela posing as a Praetorian? Was it a shot over the bow that took out three targets, Venezuela, Cuba and the CCP, with one raid? Did Trump wipe out Venezuelas "Cuban (CCP) Cabinet"?

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