Venezuela's President Vows To Get Oil Prices Back To 'Where They Should Be'

BI ^ | 11-29-2014 | Linette Lopez

[Tea Party Terrorist]

Can’t read the article, but loans to Venezuela will have the same result as loans to Cuba.

[CodeToad]

“$2/bbl. Which is where they will be when nuclear/thermonuclear becomes available. Which is inevitable.”

We get many products from oil not associated with energy. Candy Corn for one. (apologies to Lewis Black) If anything oil may skyrocket as companies withdraw from production once nuclear emerges and supply then dwindles.

We need oil for grease and other lubricants, not to mention plastics and many synthetic textiles. Oil has contributed much more than gas, diesel, or home heating oil to our modern ways.

[CodeToad]

Here in Denver, Diesel is about $0.45 over gas every day. It used to be well under the price of gas 20 years ago.

[Teacher317]

Libya is certainly volatile. Would love to know how the breakeven cost jumps around so much and so quickly.

[Zhang Fei]

Venezuela has been getting loans from China, with their oil as collateral. I don’t know the terms, but I suspect China had some pretty tough terms. Pretty soon it may be China’s oil, and the Venezuelans just live on top of it.

The question "You and what army?" may come up, given that the US will presumably respond favorably to a Venezuelan request to prevent a Chinese expedition from landing on its soil.