Venezuela: U.S. flooding market with fracking-produced oil

http://latino.foxnews.com ^ | December 10, 2014 | EFE

[Maelstorm]

Venezuelan President Nicolas Maduro blasted the United States Wednesday for its large-scale use of hydraulic fracturing, or fracking, saying it is flooding the market with oil produced with environmentally destructive methods.

The United States, one of the world's biggest practitioners of fracking, a controversial technique that involves pumping a pressurized fluid - usually composed of water, sand and chemicals - into a shale formation to create a fracture in the rock layer and release trapped petroleum or natural gas - has used that technology to double oil output to 8.5 million barrels per day in six years.

[Paladin2]

Venezuela can make their own tp, one sheet at a time from their own trees.

[clearcarbon]

Does Maduro think we owe him something?

[SWAMPSNIPER]

They’re already out of toilet paper.

[Chaguito]

This is why the socialist in Venezuela will destroy his country. Is he so clueless that he believes that the frackers would do the very thing that could drive themselves out of business?

[Vince Ferrer]

This picture was from the protests in Venezuela over the summer, before oil started declining. Chavez, and now Maduro, are not dictators. They get elected because they can buy off 51% of the vote, and the biggest tool they have is oil. Until now. The price of oil now is $60, but they need almost $200 to keep the promises to their base. It is impossible for them to raise the price of oil, all they can do now is cut social payments to their supporters. It is getting unlikely that they can pay off that 51% anymore.

[Nervous Tick]

rofl Nice work!

[Gay State Conservative]

...flooding the market with oil produced with environmentally destructive methods.

Having done some traveling in South America (but not Venezuela) I can attest to the fact that examples of environmental destruction are about as numerous as are the mosquitoes.

[MadMax, the Grinning Reaper]

Hey, Maduro, You can give the clenched fist salute to your firing squad. Paradon, you Marxist prick.

[nascarnation]

Cuba winds up sucking bilgewater on this deal also.
Multiple wins!

[RockyTx]

fracking only works in the US.

why is that?

[Lurker]

+1.

[Vince Ferrer]

Why doesn’t Venezuela just stop oil exports?

Venezuela doesn't have a large manufacturing base. It sells oil for dollars, and takes the dollars and buys manufactured stuff with it and imports it. What factories they have are still dependent upon foreign raw material inputs.

They have been experiencing a shortage of foreign exchange currency, caused by their oil output going down, because their state oil company is a corrupt extravagant money waster and can't even maintain their output, let alone increase it.

This was even at $100 oil. They possibly could have fixed their problems before, because they were all internal, but now at $60 oil, its lights out, and there is nothing they can do.

[exit82]

No money.

And no toilet paper.

Another Marxist success story.

[Paladin2]

Socialists need manufactured products?

[MeshugeMikey]

THank you .I stole it ftom myself....
..
. the first version dating back to the clinton era was the Vast Right WIng Conspiracy
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[Catholic Canadian]

I am starting to f*cking loooooove fracking!

[tflabo]

He misses those Yanqui Imperialist dollars days when his oil was high priced. Sucks to be a one trick socialist pony that Maduro? Looks like his Castroist economic model is going to the basura dump. Let Fidel bail him out now.

[Nervous Tick]

>> fracking only works in the US. why is that?

Because our oilmen are heartless bastards bent on destroying Gaia and we are the only nation with enough plutonium to make fracking fluid? :-)

But seriously, my guess is fracking would work anywhere in the world where the oil and gas are in similar tight formations. But it’s currently only USED in the US, because the rest of world is mainly pumping easy oil, plus we’re the only ones with the technological savvy.

[RetiredTexasVet]

An economy in the sh!tter with a toilet paper shortage .... priceless!

[PGalt]

ESAD you socialist puke, Maduro.