These Democrats LOVE the Venezuelan system.
Posted on 06/23/2019 3:09:57 PM PDT by Libloather
SAN RAMON (CBS SF / CNN) — Chevron’s nearly century-long relationship with Venezuela might not survive the Maduro regime’s fight with the United States. Not only is Venezuela’s infrastructure crumbling, but the OPEC member’s national oil company has been sanctioned by the Trump administration.
Chevron, based in San Ramon and the last major US oil company still operating in Venezuela, could be forced to leave unless US officials extend sanctions waivers scheduled to expire on July 27. A Chevron exit would follow on the heels of other major American companies that have retreated from the chaos in Venezuela in recent years.
A loss of Chevron’s expertise and resources would only make matters worse for Venezuela’s oil industry, which is already on the brink of collapse under President Nicolas Maduro. And it could trigger losses for Chevron in a major market it’s spent decades sinking time, money and sweat into.
“If Chevron leaves, the country will almost certainly nationalize its oil assets,” said Muhammed Ghulam, an energy analyst at Raymond James. “Maduro is in a fight for his country. He needs all the cash and resources he can get.”
(Excerpt) Read more at sanfrancisco.cbslocal.com ...
All because of one socialist idiot? He's gotta go.
or Venezuela pretty much screwed themselves by nationalizing it. I see no loss for what's left. Venezuela has never paid the bill for stealing Exxon in the first place.
IOW, "Let George Do It". /OTR reference of a Standard Oil/Chevron-sponsored radio show.
Nuther 8 years of Obama, Chevron would likely been out of here too.
Still a lot of heavy oil down there. I think they have more reserves than Saudi Arabia. That just don’t have the smarts to get it out. Kind of like Mehico.
I agree he has to go, however, they are socialist because a fair number of people listened to the bs and supported Chavez in the first place.
He’s not in a fight for this country. He’s in a fight to still his Swiss bank account.
One time or term in office is all a Socialists needs.
You can vote your country into socialism, but you have to shoot your way out of socialism.
It will nationalize what remains from what it has already nationalized. That means control by the same party fools who have already scorched a formerly productive industry. To put it in perspective, Venezuela is too corrupt for even the Russians. Let that sink in for a minute. To quote a Russian auditor, "It will be like this for eternity."
Certain companies - ELF for one - have been hanging on in the hope that somebody in the Venezuelan government will come to his senses and let them return to full effort instead of stealing what's left. Phillips-Conoco finally gave up, sued, and was awarded $8 billion which is going to be hard to collect. And the reason that simply ridding them of Maduro isn't going to be enough is that the new leader Guaido is another verse of the same socialist song. He has already filed to have the $8 billion award annulled. So no, not much help there. If Venezuela is going to get any help at all it's going to have to come from somebody they've already screwed. Best of luck with that one.
I believe Sanders said that food lines were a good thing. Showed that government was getting food to the people. You can’t say we weren’t warned.
Chevron should turn their Venezuela assets into Wyatt’s Torch.
(Sigh) United Fruit used to deal with mutts like Maduro with less fuss.
Chevron is just a slow learner. Venezuela has ‘F-ed” over ever company that has done business there.
Yep, you could pay off a few college loans with the billions lost to socialism. How paradoxical.
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