Posted on 11/29/2014 4:40:56 PM PST by blam
Linette Lopez
November 28, 2014
In a passionate speech on Thursday, Venezuelan President Nicolas Maduro vowed that he would not rest until oil prices were back to "where they should be," reports Venezuelan paper, El Universal.
For Maduro's purposes, that's at about $100 a barrel.
"We will maintain the depth and rhythm of our investments into society," Maduro said speaking at a military celebration. "The best response in the face of obstacles is to come together in work, in struggle — it is to have discipline.
On Thursday OPEC leaders agreed not to reduce global oil output, thereby increasing the price of the commodity. As a result, oil stocks crashed, and the price of oil continued its months-long slide.
For Venezuela, that means the commodity that makes up 95% of its exports is not bringing in enough cash to support the investments Maduro was talking about — social programs dating back to the late-Hugo Chavez's regime, ranging from education to social welfare.
(snip)
(Excerpt) Read more at businessinsider.com ...
Welcome to the markets.
They can shut down US production. If the Brent price moves towards $60 — they're currently around $72 — a significant amount of US shale production would be challenged.
We can't match the Saudi price of production.
I foresee a necktie party in Senor Maduro’s future if he remains in Venezuela much longer.
This from the communist moron that can’t even keep the country in toilet paper ....
The lowest I’ve seen recently.
Here in SoCal, Reg about 3.03, Diesel about 3.49.
Arizona Reg about 2.79, Diesel about 3.79.
Diesel holds up, even when gas drops. Why? I think it is the demand from interstate truckers with large tanks.
It looks to me like putting a lifejacket on a dead man!
By: Kejal Vyas Updated Nov. 24, 2014 3:00 p.m. ET
CARACAS, Venezuela—South America’s most economically troubled country, facing fears of a debt default amid tumbling oil prices and a cash crunch, has been thrown a lifeline by its largest lender, China.
http://online.wsj.com/articles/china-loosens-debt-terms-for-venezuela-1416858616
Can you still get the super cheap diesel in Mexico? I remember when folks were installing a 100 gal transfer tank in their pickup and heading south.
Next week I look up the word "revenue". Not sure what it means but I think it has something to do with moonshine.
Venezuela is such a minor player now, who cares what they think?
Yeah, Marcellus is break even at $40. Let’s see you shut that down.
The store looks like it’s out of business.
sounds like an Obama copycat
Let us know how that works out for you Hugo.
. . . . . . .
Hugo has been dead for some time.
In a passionate speech on Thursday, Venezuelan President Nicolas Maduro vowed that he would not rest until oil prices were back to "where they should be," reports Venezuelan paper, El Universal.Well, Nick, I guess if you want to set the price you will accept for oil at $100 a barrel, nobody can stop you.For Maduro's purposes, that's at about $100 a barrel.
But if people don’t buy oil from you at that price, you might find it difficult to stop them, too.
Just how is this idiot socialist going to raise oil prices? Fool. Maybe their ongoing problems will help Venezualans see that socialism is stupid.
Maybe he will put price controls on all the oil he sells? “All Venezuelan oil will be sold for at least $100 a bbl”. let’s see how that does! LOL.
The said truth is that there are a lot of liberals that think it works that way.
Hell banned petroleum products eons ago, just can’t use it and really don’t need it. They’ve got an unlimited supply of brimstone.
BUT as soon as it rises to $65 we start producing from shale again. Meanwhile OPEC makes little money while depleting its reserves and helping us conserve ours.
And the refined product will triple in price because of lack of widespread use...
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