Skip to comments.Venezuela, Once an Oil Giant, Reaches the End of an Era
Posted on 10/07/2020 7:56:14 PM PDT by BeauBo
For the first time in a century, there are no rigs searching for oil in Venezuela.
Wells that once tapped the worlds largest crude reserves are abandoned or left to flare toxic gases that cast an orange glow over depressed oil towns.
Refineries that once processed oil for export are rusting hulks, leaking crude that blackens shorelines and coats the water in an oily sheen.
Fuel shortages have brought the country to a standstill. At gas stations, lines go on for miles.
Venezuelas colossal oil sector, which shaped the country and the international energy market for a century, has come to a near halt, with production reduced to a trickle by years of gross mismanagement and American sanctions. The collapse is leaving behind a destroyed economy and a devastated environment, and, many analysts say, bringing to an end the era of Venezuela as an energy powerhouse...
Soon after he was elected president in 1998, Mr. Chávez commandeered the countrys respected state oil company for his radical development program. He fired nearly 20,000 oil professionals, nationalized foreign-owned oil assets and allowed allies to plunder the oil revenues...
Sanctions forced the last American oil companies in the country to stop drilling. They may leave the country entirely in December, if the Trump administration ends their exemptions from sanctions...
More than five million Venezuelans, or one in six residents, have fled the country since 2015, creating one of the worlds greatest refugee crises, according to the United Nations. The country now has the highest poverty rate in Latin America, overtaking Haiti this year
(Excerpt) Read more at nytimes.com ...
The more it is tried, the more it fails.
Socialism made them all equal.
Equality in misery.
Three writers AND a photographer to document the obvious?
Socialism destroys whatever it touches.
Wait. This anti-socialist article came from the New York Times? Quick, fire everyone involved!
Onward the Revolution!
Shades of a Harris/Byedone administration.
Socialism sucks so bad you can literally be living on top of trillions of dollars and be poorer than a Biafran refugee.
“Another triumph of socialism.”
And it goes right over the head of the Slimes, which constantly defends socialist policies.
That poster should be updated with Biden and Harris
Ironically, it is actually Socialism/Communism/Marxism that is the ‘opiate of the masses’. It is addictive, and falsely promises so much to ‘the people’ such that they give up their freedoms in order to find ‘utopia’ on Earth.
Yes. There are no “moderates” left at the New York Times. They’ve been purged. The people who wrote this article would probably crawl over broken glass to vote for Bernie Sanders. They will, without a doubt, be voting for Biden/Harris.
Poorer than even Haiti?
The once richest country is South America?
“Soon after he was elected president in 1998, Mr. Chávez commandeered the countrys respected state oil company for his radical development program. He fired nearly 20,000 oil professionals, nationalized foreign-owned oil assets and allowed allies to plunder the oil revenues...”
Does Sean Penn know about this?
“The country now has the highest poverty rate in Latin America, overtaking Haiti this year”
What more damning indictment of socialism can be uttered? Haiti is essentially a mudflat.
Venezuela has the largest oil reserves in the world.
America had nothing to do with their demiss..sanctions were a reaction, not an action....
Now they are free from yucky, nasty, racist oil, they can focus on putting up lovely green windmills and solar panels to power their glorious revolution.
and with the politically correct number of sexes, races and colors too...
also i’m sure at least one of them is queer or trans-lol or whatever
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