Crude Mistake
Chavismo Still Hamstringing Venezuelan Oil Production
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  • This gets to the root of what makes a complex organization work. Oil companies are every bit as high-tech as any “tech company” – if not more so since the expertise in oil & gas is learned by doing far more than it’s learned from texts. It also doesn’t help that VZ oil is gloppy and heavy (opposite of “light, sweet crude”) and hard to both extract and refine. Oil companies are capital-intensive, but what makes them work is knowing how to deploy the capital and use the equipment, not the capital itself.

    Before the mass firing, PDVSA was the most respected oil company in “the global South” due to its expertise in managing heavy VZ crude. Now, most of that expertise is gone.

    When Chavez did the firing, it was clear that he was both a megalomaniac and a buffoon who would destroy his country.

    • Andrew Allison

      Would that megalomaniacs were buffoons: it would limit the damage they do.

      • Breif2

        Oh, there is no lack of megalomaniacal buffoons on the world stage. Americans can generally afford to be amused by their antics; those at their mercy have more trouble laughing. In fact, they can find it downright unhealthy.

  • Jacksonian_Libertarian

    It seems to me that he did this to better loot the oil industry. After all when he died he was worth billions of dollars, he had to steal them from somewhere.

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