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Venezuela, Once an Oil Giant, Reaches the End of an Era
NY Times ^ | Oct. 7, 2020 | Sheyla Urdaneta, Anatoly Kurmanaev and Isayen HerreraPhotographs by Adriana Loureiro Fernandez

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 ...


TOPICS: Business/Economy; Cuba; Foreign Affairs; Russia
KEYWORDS: cuba; energy; hydrocarbons; maduro; maga; nicaragua; opec; russia; socialism; venezuela
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To: Billthedrill

“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.


41 posted on 10/07/2020 8:50:14 PM PDT by BeauBo
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To: ocrp1982

42 posted on 10/07/2020 8:55:05 PM PDT by BeauBo
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To: Billthedrill; All

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


43 posted on 10/07/2020 8:55:26 PM PDT by PGalt
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To: BeauBo; All

Great FReeper thread. Thanks to every poster.


44 posted on 10/07/2020 8:57:09 PM PDT by PGalt
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MAGAKAG


45 posted on 10/07/2020 8:58:04 PM PDT by PGalt
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To: BeauBo

That’s wonderful:

https://thepeoplescube.com/images/various_uploads/Current_Truth_Chaz.jpg


46 posted on 10/07/2020 9:06:04 PM PDT by GOPJ (Biden's base: non-college educated blacks.. Why won't Biden's Amtrak Tour stop in black communities?)
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To: Billthedrill

(Pro Tip: No, because of socialism)

47 posted on 10/07/2020 9:10:18 PM PDT by BeauBo
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To: BeauBo

Read some of the comments. The readers of the NYT are ignorant, stupid, and quite good at showing it.


48 posted on 10/07/2020 9:10:54 PM PDT by ChildOfThe60s (If you can remember the 60s.....you weren't really there..)
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To: BeauBo

So sad.


49 posted on 10/07/2020 9:11:20 PM PDT by Rocky
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To: PGalt
"MAGAKAG"


50 posted on 10/07/2020 9:12:06 PM PDT by BeauBo
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To: Leaning Right

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!


51 posted on 10/07/2020 9:12:14 PM PDT by MadMax, the Grinning Reaper
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To: MadMax, the Grinning Reaper
"How did the Marxist leadership of the NY Times let a basically anti-communism/Marxist/socialism article get published in their paper?"

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.


52 posted on 10/07/2020 9:22:18 PM PDT by BeauBo
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To: Natty Bumppo@frontier.net


53 posted on 10/07/2020 9:28:20 PM PDT by BeauBo
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To: BeauBo

... but THIS time socialism will work!


54 posted on 10/07/2020 9:39:40 PM PDT by Bubba_Leroy (The Obamanation has ended! Fight the Return of Biden the Demented!)
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To: Bubba_Leroy

55 posted on 10/07/2020 9:49:00 PM PDT by BeauBo
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To: aquila48

56 posted on 10/07/2020 9:54:08 PM PDT by BeauBo
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To: Billthedrill; SunkenCiv; Kaslin; BenLurkin; MHGinTN

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.


57 posted on 10/07/2020 10:01:26 PM PDT by Robert A Cook PE ( I can only donate monthly, but the radical ABCNNBCBS does it every hour on their news.)
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To: SmokingJoe

58 posted on 10/07/2020 10:05:51 PM PDT by BeauBo
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To: 2banana
Surprised title did not read

Socialist Are First To Succeed At Carbon Reduction, Saving The Planet!

59 posted on 10/07/2020 11:16:05 PM PDT by Lockbox
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To: BeauBo
Actually does look like Haiti on their shoreline.....just shows leadership matters and socialism

will kill a country in short order...


60 posted on 10/07/2020 11:37:41 PM PDT by caww (...This constant pretending the president is a problem is pure evil!...)
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