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 world’s 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.
Venezuela’s 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 country’s 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 world’s 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 ...
“Many of those fired workers fled to Colombia, whose own oil production has soared 6000% since.”
I hope we can get some of the World Class talent likely to flee from Hong Kong, as the communist boot comes down on their necks.
History. Recent history. Daily history. Learn from it or...
Life goes by fast. Take some time for yourself and loved ones...
https://www.youtube.com/watch?v=vsYBtfQ3QDo
Education BUMP! Thanks, Bill. I’ve learned much from your posts over the years.
MAGABILL
Great FReeper thread. Thanks to every poster.
MAGAKAG
(Pro Tip: No, because of socialism)
Read some of the comments. The readers of the NYT are ignorant, stupid, and quite good at showing it.
So sad.
How did the Marxist leadership of the NY Times let a basically anti-communism/Marxist/socialism article get published in their paper? Did all the editors go to the bathroom at the same time?
Gee, maybe they will eventually do a story about the truth of Castro’s hidden communism and what he did to his country and countrymen and women.
Yeah, and Pigs will fly in formation over NYC!
I think their point was that environmental damage resulted from icky oil - and Trump's sanction were as much to blame as Chavez/Maduro's failure to achieve real socialism, because of corruption (or some such rot).
But the magnitude of the destitution there needed some explanation - some talking points for their campaign workers to regurgitate.
... but THIS time socialism will work!
Long postt, and very good info. Thank you.
A gas turbine can run two years easy without maintenance and replacement. After 3 years, things begin wear out break. At 5 years, the blades and games and got gas parts are worn through, and eroding and burning through. Burners, nozzles, guide vanes, turbine blades are shot or are just about to fail.
They go out, and the entire unit and casings are scrap metal scattered in pieces.
Socialist Are First To Succeed At Carbon Reduction, Saving The Planet!
will kill a country in short order...
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