Global Warming Win: Venezuelan Socialists On Track to Eliminate Their Nation’s Oil Industry

Venezuelan President, Nicolás Maduro in meeting with Iranian President Hassan Rouhani in Saadabad Palace

Venezuelan President, Nicolás Maduro in meeting with Iranian President Hassan Rouhani in Saadabad Palace. By Tasnim News Agency, CC BY 4.0, Link

Guest essay by Eric Worrall

Despite oil accounting for a whopping 90% of Venezuela’s export earnings, President Maduro, a fervent supporter of the Paris Agreement, has courageously put principle before profits by implementing his version of a new green deal. Maduro has eliminated the capitalist exploiters from his nation’s oil industry, and replaced them with loyal army officers who are rapidly dismantling the infrastructure left behind by the capitalists.

Soldiers are taking over Venezuela’s oil industry, and the country with the world’s biggest oil reserves is falling further behind

Reuters Dec. 26, 2018, 5:55 PM

CARACAS (Reuters) – Last July 6, Major General Manuel Quevedo joined his wife, a Catholic priest and a gathering of oil workers in prayer in a conference room at the headquarters of Petroleos de Venezuela SA, or PDVSA.

The career military officer, who for the past year has been boss at the troubled state-owned oil company, was at no ordinary mass. The gathering, rather, was a ceremony at which he and other senior oil ministry officials asked God to boost oil output.

“This place of peace and spirituality,” read a release by the Oil Ministry that was later scrubbed from its web site, “was the site of prayer by workers for the recovery of production of the industry.”

President Nicolas Maduro turned heads in November 2017 whenhe named a National Guard general with no oil experience to lead PDVSA.

Quevedo’s actions since have raised even more doubts that he and the other military brass now running the company have a viable plan to rescue it from crushing debt, an exodus of workers and withering production now at its lowest in almost seven decades.

Workers who make mistakes operating increasingly dilapidated PDVSA equipment now face the risk of arrest and charges of sabotage or corruption. Military chieftains, moonlighting in the private sector, are elbowing past other contractors for lucrative service and supply business with PDVSA.

Maduro defends the military managers, arguing they are more in synch with his Socialist worldview than capitalist industry professionals who exploit the country for personal profit.

“I want a Socialist PDVSA,” the president told allied legislators earlier this year. “An ethical, sovereign and productive PDVSA. We must break this model of the rentier oil company.

Read more:

The sheer genius of President Maduro’s green plan will no doubt be appreciated by future generations of Venezuelans.

Unlike President Macron, whose politically clumsy attempt to ween his nation off oil led to the yellow vest riots and a humiliating backdown, President Maduro has successfully maintained the fiction of attempting to revive his nation’s oil industry, while secretly mounting an unprecedented effort to deindustrialise and dismantle the entire Venezuelan petro-economy.

President Maduro’s loyal army officers are on track to eliminate Venezuelan fossil fuel exports, shut down industry and are also busy quietly liberating the people from the trappings of capitalist materialism, fostering a return to a simpler age when the Venezuelan people lived more in harmony with nature.

137 thoughts on “Global Warming Win: Venezuelan Socialists On Track to Eliminate Their Nation’s Oil Industry

  1. “Military chieftains, moonlighting in the private sector, are elbowing past other contractors for lucrative service and supply business with PDVSA.

    Maduro defends the military managers, arguing they are more in synch with his Socialist worldview than capitalist industry professionals who exploit the country for personal profit.”

    IOW Maduro is doing his best to prevent being deposed in a military coup. It’s all about his retaining power while making his personal fortune.

    • Great news! One less competitor for our Canadian oil sands. Now if our US neighbors would just get moving and let us finish building the Keystone pipeline, we’d be open for business.

      • You are correct Trebla.

        Opposition to Keystone XL and other pipelines has never been about the environment. That opposition is a green smokescreen for leftist political objectives, as revealed in 1994 by Dr. Patrick Moore, a co-founder of Greenpeace. Read “The Rise of Eco-Extremism”

        The environmental issues of pipelines are simple – pipelines are much safer and cheaper than other alternatives for shipping oil.

        The leftist extremists who have delayed the completion of the Keystone XL pipeline are not just wrong, they have deliberately sabotaged critical security and economic mainstays of Canada and the USA – they belong in jail.

        Here is a relevant post from 2012:

        Three weeks ago I wrote to a friend, who is one of the recognized true experts in global energy, as follows:

        I remain perplexed by Obama’s Keystone decision, which appears to be very much against the national interests of the USA.

        The pipeline is clearly in the USA’s strategic interest. Given the Iran situation, it should have been built yesterday. Furthermore, it will create some jobs and tax revenue at no cost to the taxpayer.

        The alleged environmental dangers of the pipeline appear wildly overstated.

        I think overconsumption of water from the Ogallala aquifer due to corn ethanol overproduction is a much greater environmental threat. Removal of corn ethanol subsidies will not solve the problem as long as the corn ethanol mandates in gasoline remain.

        Am I missing something here?

        His answer: “Sadly, no.”

        • The oil did travel: by train.
          Warren Buffet built the trains.
          Warren Buffet owned the railroad that carried the oil.
          Now one of the oil trains is stored in Burlington, VT.

          • Warren Buffett is an Obama puppet master. As a result of Obama’s rejection of the Keystone pipeline, crude oil that would have been safely transported through the pipeline was carried by oil trains instead. The amount of crude oil shipped by rail increased from 9,500 carloads in 2008, to 500,000 carloads in 2014. And the biggest winner by far was… Warren Buffett’s railroad (BNSF).

            Obama cited “protecting the environment” in his decision, but oil trains have been an unmitigated environmental disaster. Here’s a partial list of derailments that spilled oil that would have, and should have been transported safely through the Keystone pipeline:

            July 2013, Lac-Megantic, Quebec: Sixty-three tank cars derail and spill more than 1.3 million gallons of oil. Forty-seven people are killed and 30 buildings are destroyed.

            December 2013, Casselton, ND: An oil train derails and spills 400,000 gallons of oil, most of which burns.

            February 2015, Beckley, W.Va.: An oil train hauling North Dakota crude derails destroying a house and forcing the evacuation of two towns.

            Feb. 2015, Gogama, Ontario: 29 cars carrying crude oil derail and spill oil.

            March 2015, Gogama, Ontario: 39 tanker cars loaded with crude oil derail and catch fire. The fire burns for five days, and the spilled oil eventually reaches Kazaway Lake.

            March 2015, Galena, IL.: An oil train loaded with crude oil derails and catches fire.

            June 3, 2016, Columbia River Gorge: An oil train with 96 tank cars derails and spills 42,000 gallons of oil into the Columbia River.

            June 2018, Doon, Ia.: An oil train derails spilling 230,000 gallons of crude oil spill into the Rock River and forcing nearby residents to evacuate.

          • And like the myth that bill Gates is a genuine philanthropist (hint, he’s a eugenicist), there still floats the myth warren buffet made his riches honestly. False, just like that tyrant Abe Lincoln, he used government collusion to benefit himself the entire way.

        • The real criminals in efforts to stop the XL Pipeline are stupid liberal judges who are clueless when it comes to energy issues.

        • Misdirection by R Taylor?

          Hired Canadian thug demonstrators and corrupt leftist Canadian politicians have opposed Canadian pipelines.

          Hired American thug demonstrators and corrupt leftist American politicians have opposed the Keystone XL pipeline.

          The money to hire these corrupt thugs, both Canadian and American, has largely been funneled from USA and overseas sources through US false fronts like the Tides Foundation.

          The basis for this opposition has largely been a pack of lies from phony-green leftists.

          The cost to Canada to date has been a loss of $120 billion.

          The cost to Quebecers and Maritimers is also huge – since citizens have to pay world price for their gasoline, diesel and jet fuel – since world oil price is about twice as high as the Alberta oil price.

          There are no real environmental issues with pipelines – pipelines are safer and cheaper than other forms of oil transportation.

          The politicians who oppose pipelines are not all that stupid – they are probably also being bribed by foreign interests.

    • Rah – you are correct!

      Forget the rhetoric – here is the reality:.

      The far-left is winning, especially in the developing world, where over 100 countries are pseudo-Marxist dictatorships, based on their leftist phony rhetoric, but are actually just military dictatorships, run for the ruling elite and their armed thugs – see Zimbabwe and Venezuela.

      The left takes political power by promising imbeciles lots of free stuff. Then they destroy the economy, create widespread poverty and live like kings atop a ruined state – because you can’t be kings without lots of peasants.

      • “…. because you can’t be kings without lots of peasants.”

        Yep, well said Allan. Socialism cannot work unless 2/3 of the population are enslaved to the ambition of the Political elite. The only economy that works with Socialism is the Slave Economy. Gulags and peasants…. and it’s amazing just how fast the “Vanguard of the Revolution”, becomes a Hereditary Aristocracy within a generation or two. Nth Korea is the perfect example of what happens to a Communist Dictatorship. It becomes a Hereditary Monarchy in no to flat, complete with God Kings.

        • All true JH – and fossil fuels are what released humanity from the worst aspects of slavery.

          All the major structures built by ancient man were built by slaves, with rare exceptions. When one views the wonders of the ancient world, from the temples and pyramids of Egypt to the aqueducts and great buildings of the Roman Empire, recognize that these magnificent achievements were built on the misery of millions of slaves.

          The slave trade carried on until well into the 1800’s in the developed world, and is still reportedly present in sub-Saharan Africa.

          Slavery is one of the greatest evils of humanity – and modern leftists seem intent on re-introducing it on a global scale.

    • Venezuela banned private gun ownership in 2012 in order to fight crime. Today, crime is rampant and Venezuela is perhaps the most violence prone country.

      BTW, Tony Heller’s site is perhaps seems to be under some kind of attack. He must be over the target or close to it.

      • There’s lots of ways to rob and/or murder someone. A gun is just one of those ways. But a gun is also a very effective deterrant against most of the other ways. Private gun ownership prevents far more crime than it ever enables. 😐

    • The Venezuelan military will have to be retrained to be “people who throw spears” instead of mechanized units requiring oil based fuels. What a bunch of losers.

    • Maduro is just another dumb third-world toad who will require much aid from China and Russia to avoid starvation. They will at least save their oil for a future free society to tap.

  2. Eric, you forgot the /sarcastic tag at the end.

    Seriously, I spent some time in Caracas and Maricaibo in the late 1990s. We visited the Pdvsa HQ in Maricaibo and could plainly see the damage to facilities and morale brought by the pre-Chavez round of nationalization. Caracas was dangerous in those days, but nothing like it is plainly so today. At least we could tour the countryside on weekends…a beautiful country with hard working people.

    The new rulers of Pdvsa and the economy today are not even Venezuelan, they are Cuban and now Russian. So sad.

    • Yup. I spent a couple of years based in Puerto La Cruz while I was doing geological mapping in La Serrania del Oriente. It was great back then. I spent a lot of time staying in small towns out there and it was a veritable fiesta. And then came Chavez and his promises…

  3. Going beyond the oil industry, what is happening in Venezuela is an astounding situation. In terms of human interest it is of the order of the Rwandan genocide in 1994. The outflow of people from Venezuela is remaking the demographic map of several countries. There are terrible health and social effects on those remaining.

    • I keep in touch with a friend out there. The family have all left to settle in Peru except for her and her ageing Mother.

  4. In October 2017, Venezuela had its lowest oil output in 28 years, with only 1.863 million bpd being pumped that month.
    By late-2017, the PDVSA struggled to repay $725 million of debt, part of a total $5 billion owed.
    Into 2018 as a result of shortages in Venezuela, malnourished oil workers were too weak to perform their daily tasks, with many beginning to collapse on the job.

    Hunger is accelerating the ruin of the Venezuelan oil industry as workers, who must do heavy work, become too weak and hungry. With children dying of malnutrition and adults who sift through trash in search of scraps, food has become more important than employment, and thousands leave work. Absenteeism and mass resignations mean that there are few left to produce the oil that keeps the economy running in rags.

    • It’s the road to neo-feudalism. The feudal order collapsed with the rise of the middle class. The socialist order ultimately seeks to do away with the middle class, by strangling them financially with onerous taxes and high energy costs, and culturally pressuring them into feeling guilt about their own affluence. The lower and under classes are bribed into going along with welfare state handouts funded by the take, and riled up by rhetoric that sets them against the middle class and its alleged “capitalist greed”. The upper class discreetly lines its pockets from the same take and waits for the whole system to run out of the other peoples’ money and go belly up. Then they can grandiosely swoop in to “rescue” the victims of the crisis they themselves engineered, and set themselves up as the neo-feudal oligarchs they’ve always felt entitled to be.

  5. This is what happens when Marxist kleptocracies, appoint high-ranking industry positions with incompetent, unqualified and clueless political party hacks with no ability to perform the required duties of the job.

    Under capitalism, important positions are filled with the most qualified, skilled, and successful experts. If the appointee is incapable of performing the job duties effectively, the person is replaced ASAP with someone who can… Wow.. what a concept…

    History showed Marxism never has and never will work, and led to the murder of 100+ million citizens. One would think a 100% failure rate and 100 million deaths would have been suffienct evidence to show Marxism is evil and doesn’t work, but, alas…

    How many more people must be murdered under Marxists tyranny before we learn the lessons of history? 1 billion? 2 billion? 5 billion? I wish some Leftist would give me a number…

    • The truly hardcore greenies think those deaths are necessary, in order to get the world population down to a “sustainable” level. Of course, as long as it’s not them who get killed… but as high priests in the Church of Gaia, they feel they should be immune.

      • Spot on Don.

        I have a communist friend, not very bright but in many ways decent human, very giving. However, his worldview is pure Satanism. Believes in over population, pro abortion (calls unborn babies parasites), white privilege (he’s white), CAGW (but when I pressed him about co2 being irrelevant and laced about 6 factual examples he said “what do i care? All the programs they are pushing I agree with”.

        This is what we are dealing with. Selfish egotists who sometimes might be materially giving but when it boils down, they are misanthropic.

        I came out of Penn State buying into all this horse hockey, but it took me ten years to learn to see through all the nonsense

  6. Difficult to reconcile the dismal picture painted here with the fact that Chavez and Maduro were and are repeatedly elected by an enthusiastic majority of the population. Nothing of this image is evident in the media reports (which are, in any case, virtually nonexistent) in the UK.
    The only item of news here about Venezuela is that it is the model for the society that Corbyn will put in place in the UK when (no longer a question of if) he becomes PM.

    • You already took the first step – disarmed the population so they will not have means to resist the green socialist utopia.

    • As Stalin once said “those who vote don’t count, they don’t matter. Only those who count the vote, matter..

    • What is your definition of elected?
      It’s helpful , as a dictator, to have the opposition leader jailed or banned and the opposition party choosing not to participate I a rigged election.

    • Chavez won the first time by promising free stuff.
      Ever since then he’s won by controlling the elections. Especially the counting of votes.

  7. Eliminating his nation’s fossil fuel industry will not cause mankind to decrease their use of fossil fuels because they will just buy them from other countries. It sounds like he wants his people to regress back to a time of greater hardships and shorter lives. He wants the people of Venezuela to be his shaves. But even if he could reduce global CO2 emissions it would have no effect on global climate because the climate sensitivity of CO2 is zero.

    • Venezuelea’s plummeting output has been a windfall money boon to other OPEC members to make-up the difference to meet the agreed production levels. There are no tears for Venezuela from Riyadh to Dubai.

      • It’s also been a huge boon to those of us in Texas and other US oil hot spots! If Vz had it’s act together oil prices would be plummeting and we’d be having another oil depression here in the gulf states. Having connections to the industry, I eagerly await the complete collapse of Venezuelan production!

      • I just finished re-reading (for the fifth or sixth time) Atlas Shrugged–a terrific, far-flung novel on a vast scale. I enjoyed it much more than I did the first time (in high school) because now I understand it better.

        In the current article, next-to-last paragraph, the word is “wean”, not “ween.”

  8. I seriously doubt he has a green plan. It is the incompetence of a socialist likely justifying the fall of a great Nation because of his political policies that have ruined the country and starved the people. Other news reports claim that Venezuela people have lost 20 pounds and are eating their pets. The exodus is massive.
    As an Engineer I visited Venezuela numerous Times, consulting on equipment problems in the rather modern refinery built by American oil companies subsequently nationalized, but initially run OK.
    I FEEL SORY FOR THOSE who were run off their jobs or left their country when the socialists took over power.
    Unfortunately the MSM is not reporting the failures of socialism so that we in the US are ignorant of the proposals by Warren, Cortez, and Bernie would turn the US into the next Venezuela.

    • Maduro’s “green plan” likely includes copious amounts of greenbacks and gold in steamer trunks. Off-shore accounts and Swiss accounts are even too risky. Plus an escape plane for him and his family/inner circle, first to Cuba, then someplace like the Comoros Islands or Seychelles with enough payoffs.

    • I stayed at one of the Hilton hotels that was later confiscated by the regime. Today, rooms come with bed bugs for free.

      Socialism destroys the incentive to risk, to make anything better and naturally it gets worse and thugs assume control of virtually everything.

    • There are still a large number of people in the US that understand what is happening in Venezuela and other “Socialist Paradises” but the much larger number of citizens is totally clueless and believe they are entitled to free health care, a guaranteed income in the form of regular checks from the government, and a boat load of free stuff, to give the likes of Bernie hope they will prevail. Don’t these morons realize that in order for them to get free stuff someone has to be creating wealth? Once the confiscated wealth runs out, there is nothing left to pay for “free” health care and other “free” stuff!

      I hope that the US does not fall into the Venezuela trap but with so many thinking it is utopia to live in a Socialist country, I worry.

  9. The frightening thing is that this is the model country for ‘our’ Jeremy!

    Happy New Year readers.

    • This is AGENDA 21 writ large and unavoidably ! God help the Venuzualans, their economy and quality of life will drop through the floor. This is evil.

        • On the contrary, it works every time. Take control of a democracy by winning an election by any means necessary, destroy the democracy so you never lose power after that, seize the means of production, starve out any unwanted population* (better than massacres which gets way to much negative press) then do whatever the Marxist overlords pay you to do. (e.g. take an oil field out of production but maintain it for later use.)

          *Better still bus them to the US border. Trump better build that wall PDQ. Marxist have a plan for the US too!

        • Jeff, do you feel better?
          That’s nice.

          What is it about atheists that they always feel the need to act like jerks?

      • Now imagine that this was representative of a One World Government. Where do you escape to? And dictators always turn into one of these.

        Do we vote for who runs the world government? I bet we don’t, or it makes zero difference, just like our current “democracies”. Vote Labour, get Green. Vote Liberal, get Green.

    • The truly frightening thing is that Theresa could not be doing more to get Jeremy elected if she tried. And Jeremy is a “one man, one vote, once” person.

      Happy New Year to you too. Have you decided where you will go?

  10. It seems that Manuel Quevedo’s version of Christianity leads on the path to Hell.
    Why can’t the Pope do something about this and wave the excommunication stick?

    Doubt that President Maduro bothers with such matters.

    • The green socialist pope is more likely to excommunicate the people who oppose Maduro, I reckon.

  11. It looks a bit like Cambodia when Pol Pot cleared the cities of anyone with education to create his Utopia in the countryside.

  12. From Maduro’s point of view, whatever rest of us may think, this is his version of
    ‘ Venezuela first ! ‘
    Sadly millennials snowflakes have no idea what the ‘Che Guevara T shirt’ was about.

    • Well they should do, that wearing one is celebrating the life of a mass murdering cold-blooded ruthless killer, even of those on his own side!!!!

  13. OT, but a guid New Year tae aa’ wur readers, and lang may aa’ wur lums reek wi’ life-giein’ CO2 tae keep aa’ the plants growin’ cannily.

  14. Add gold to the oil problems list. The company Gold Reserve discovered an excellent gold deposit Kilometer 88, almost 20 years ago, then Chavez nationalized it. Oops! Crude gold, dore, must pass through a refinery to become gold of real value, and Gold Reserve went to the Hague and got an order to confiscate any Kilometer 88 gold going into any refinery. The deposit is reportedly being studied by their new Russian friends, the same ones placing nuke-capable bombers on a Venezuelean island in the Carribbean, and it looks like they might try to take the deposit over.

  15. Where is Danny Glover or Sean Penn coming to rescue Maduro and their model for government? Surely those two had to know what they praised when Chavez was in power would lead to? Guess not. Now we have clueless Pols wanting to duplicate that in the US. I wish the Cortez’s, Harris’, Warren’s, Sanders’, O’Rouke’s, etc (it’s a long list) would get over themselves, look outside their bubble, and accept that they don’t know what they don’t know.

    • Like most leftists, they only cared about what Chavez was saying, not what he was doing.
      Virtue signaling.

      • Say one thing and do another, seems to be a theme. Do you think this is what is described by “There is none so blind as those who cannot see”. A personality trait perhaps?

    • He will live forever in the Pantheon of Communist tyrants, along with Mao, Stalin, Honecker, and Castro.

  16. Trump should invade Venezuela, fully ramp up oil production and keep half. Instead, the Chinese will get control and keep 90%.

  17. Sadly not invited to today’s the next door celebrations for the inauguration of the Brazil’s president Jair Bolsonaro, another S.American character, one of a kind, man of memorable quotes:
    “I never beat my ex-wife, but I thought of shooting her various times.”
    apparently advocating the sterilisation of poor people, while the rest of his sayings turns political correctness on its head.
    South America ain’t going to be the same again with Nicolas Maduro and Jair Bolsonaro next door to each other.

  18. No Griff? I always do a Griff-walk looking for the loony light behind the dark clouds. Venezuela should be in his wheelhouse.

  19. Venezuela is starting to look like a rerun of the Great Leap Forward. One can only hope someone organizes a coup before it runs the same course.

  20. It’s weird, but I keep pronouncing “Maduro” as *******-****.
    Witty but the f-word is not appropriate in Spanish or any other language on this website! Those who wish to do so can Google translate ‘duro’ as an adjective/adverb and the f-word as a noun/verb. Mod

    • Right, Kevin. Tongue-in-cheek humour is one of the things that makes WUWT stand out from the crowd and be so popular. It’s apparently not appreciated, or possibly not even noticed by quite a few commenters.

      Whether humour, or even humor does any good in the long-running battle against those who want to separate us from out CO2 emissions, is doubtful. But it makes it a lot easier to face another day of green nonsense.

      Thanks Eric for that.

      • One of the greatest weapons against tyranny is humor. Would-be tyrants are almost exclusively self-important and have a chronic inability to laugh at themselves.

  21. If you wanted to create a toxin that makes lots of people die in agony, you would call it Socialism.

    • Look, we found the uneducated imbecile!

      Socialism tries to keep everybody alive and out of pain immaterial of their value to society.

      Communism lets the people of no value to society starve to death.

      Stalinism is neither.

      • Socialism claims to do that, however the reality is that socialism is just communism in slow motion.

        • Socialism is socialism in name only. The results of socialism are always the same, destruction of property and people, and the removal of incentive (and rewards) to work.

      • I lived through a lot of the 20th century when Socialism, Communism and Marxism of various stripes were killing a hundred million people. Now it seems humanity still hasn’t learned its lesson.

        If Socialism “tries” to do something good, then it is an utter failure. More likely the mass graves are the real object, and the professed good intentions are a smokescreen intended to fool “uneducated imbeciles.”

      • Prjindigo said;

        “Socialism tries to…”

        Important word there being ‘tries’.

        Words missing being ‘…and fails.’

        The moral and ethical concepts of socialism have some merit. You have lots. You don’t need all. Spread the excess. Everyone succeeds.

        The practical results of socialism are that the community organisers cast themselves into admin roles, demand the successful give up what is theirs in order to support the lazy and without the incentive to better yourself that capitalist type cultures provide the entire system slowly collapses into apathy.

        Then the community organisers decide that harsh steps need to be put in place and, since most of these people lack STEM, real world experience, or both, they reform the society into an unfixable farce where the top is corrupt, the bottom is oppressed and anyone who might have the skills to fix the problem are removed before they become political dangerous.

        Play with names all you want, but Socialism is the good intended paving that leads to all the graves.

        • “The moral and ethical concepts of socialism have some merit. You have lots. You don’t need all. Spread the excess. Everyone succeeds.”

          Except, Craig from Oz, in order to “spread the excess” we have to violate a fundamental human right: the right to property. When people can’t own what they earn, no one succeeds – except the few who get to determine who gets what.

          Once we start thinking that everyone’s stuff is “our stuff” (as in, “Here in the richest country on earth, we should be able to [insert utopian goal here]), we’re on that road you mentioned.

  22. The one that the Venezuelan government is no longer in control of as the military is pumping it to be shipped by Russia directly to North Korea?

  23. “fostering a return to a simpler age when the Venezuelan people lived more in harmony with nature.” Read a return to death and starvation. In nature it is eat or be eaten depending where you are on the food ladder.

  24. October 2018
    Countries With The Largest Proven Oil Reserves
    Rank Country Billions of Barrels
    1 Venezuela …………. 300,878
    2 Saudi Arabia …………. 266,455
    3 Canada …………. 169,709
    4 Iran …………. 158,400
    5 Iraq …………. 142,503
    6 Kuwait …………. 101,500
    7 United Arab Emirates …………. 97,800
    8 Russia …………. 80,000
    9 Libya …………. 48,363
    10 United States …………. 39,230
    11 Nigeria …………. 37,062
    12 Kazakhstan …………. 30,000
    13 China …………. 25,620
    14 Qatar …………. 25,244
    15 Brazil …………. 12,999
    16 Algeria …………. 12,200
    17 Angola …………. 8,273
    18 Ecuador …………. 8,273
    19 Mexico …………. 7,640
    20 Azerbaijan …………. 7,000

    • vukcevic
      Proven oil reserves? If you were right , I would agree with you but…
      Oil Reserves by Country
      Most likely estimate for existing fields, discoveries and yet undiscovered fields
      United States 264
      Russia 256
      Saudi Arabia 212
      Canada 167
      Iran 143
      Brazil 120
      Iraq 117
      Venezula 95
      Mexico 72
      China 59
      billions of barrels of oil
      Source: Rystad Energy

  25. The Venezuela oil production story is similar, but on a grander scale, to the “Obamacare Website” fiasco. One look at this and it is obvious what government control to any “profitable industry” does. It does not just destroy the profit, it destroys the operational efficiency and competence.
    This is the future for any system that allows for legally sanctioned, politically driven, bureaucratic control. It is always sold as “free stuff for you, paid for by benevolent government”. But the benevolent government turns into a “profitable industry” for the ones in power, with the scraps going to the enforcers. The people get photo ops and propaganda, instead of a useful product or service.
    And the appetite for it is voracious within the modern US Democratic party. We look at this and see human tragedy and suffering. The “Medicare for All” promoters look at this and they see a good plan with a poor execution. And all they would need is the right people to make the right decisions, and it magically turns to Nirvana. And the world is still waiting on the first Socialist Nirvana. And all signs point to a long wait.

  26. I viewed Tony Heller’s site some five hours ago and he had a video of about 25 minutes.
    Longer than usual, but a V. good condemnation of the CAGW fraud.
    R Shearer noted this above, some 4 hours ago.
    His site is still blocked or whatever it is.

  27. Oil production is a difficult endeavor. It requires capital, enormous technical expertise, experience, good judgement, and so on. Anyone who thinks you just drill a hole in the ground and wait for the riches to come pouring out is in for a rude awakening.

    • Right alongside Maduro, pitching socialist politics rather than the gospel of peace and prosperity!

  28. Don’t worry. No matter how badly Maduro and company screw up the Venezuelan economy, the CIA and the American Deep state will bail him out through abortive “_____ Spring” coup theater.

  29. We must weep for the people of Venezuela. For years it has been the economic ravages of socialism and now their own government wants to take away Venezuela’s most viable international product. Where else is the money going to come from to pay off debts and pay for imports but from the poor people of the country.

  30. Putting military officers in a position to personally profit from PDVSA reduces the chances that there will be a military coup, which I suspect is the real reason for this. Things are bad anyway. He probably thinks how much worse could things be.

      • Don’t forget gender studies so everyone else can understand those cannabis smoking diversity hires
        and building plenty of safe spaces for those cannabis smoking diversity hires when the gender studies doesn’t help.

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