Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Paladin2
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.

32 posted on 12/10/2014 5:37:08 PM PST by Vince Ferrer
[ Post Reply | Private Reply | To 15 | View Replies ]


To: Vince Ferrer

Socialists need manufactured products?


34 posted on 12/10/2014 5:39:27 PM PST by Paladin2
[ Post Reply | Private Reply | To 32 | View Replies ]

To: Vince Ferrer

Venezuelan oil is s*** oil too. When oil is $60/barrel on average, you’re going to want to pay a LOT less for it to run that stuff through your refinery.

I have a small crude oil collection and Oriente from Venezuela is visually apparent to be crappy, poorly filtered oil on arrival from the source.


73 posted on 12/10/2014 9:07:39 PM PST by Axenolith (Government blows, and that which governs least, blows least...)
[ Post Reply | Private Reply | To 32 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson