How To Wreck Your Country
Venezuela Set To Import Oil
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  • jaytrain

    And the yet the Chavista regime is enormously popular with the nation’s poor Granting that Maduro controls the media completely , granting that the opposition is a clown show , granting that the regime’s thugs much resemble the squadristi of fascist Italy , the Chavez / Maduro regime is enormously popular with the poor . It is the middle class that has been eviscerated by the regimes incompetence , the middle class which has not left for greener pastures in Canada and elsewhere . It is true that V is a train wreck of lost potential , but it is a slow motion train wreck that may go on for a generation , cf Cuba .

    • B-Sabre

      They’ll keep supporting it until they run out of chickens for the pot. Then they’ll eat the last Chavista elites who fail to make the last plane out.

    • People who are stupid tend to be chronically poor. Of course you can be poor without being stupid, but that is much more likely to be a temporary condition.
      When a candidate or party bases a campaign on an appeal to the poor, they must be aware that their constituency is largely stupid. How is it, then, that the Democratic party portrays itself as the party for intelligent people? What does that say about their enablers in the Press?

  • B-Sabre

    OK, here’s a question – why has the production of light crude dropped off? If it was general incompetence, I’d expect to see both light and heavy crude production drop off. Was a particular group more incompetent than the other? Did they run out of easy-to-get light crude and haven’t been able to master techniques like tracking or horizontal drilling?

    • sunpapushi

      Caracas Chronicles had a discussion about this topic a few days back and they’re not sure whether it was the inevitable exhaustion of light crude reserves or incompetence of the Chavista regime. What they do agree on is that this bad for the regime.

      Here’s the discussion: http://caracaschronicles.com/2014/08/28/venezuela-is-becoming-a-crude-importer-discuss/

      • B-Sabre

        Thanks for the link, but like so many things there are still no definitive answers.

    • Michael Bergsma

      Venezuela’s resource for heavy crude is immense and the wells produce at low rates for a very long time. Their light crude resource requires continual drilling which they have not done. Also, the best talent in their oil industry has been run off out of the country. I have done business with quite a few geophysicists from there now working in the US. Our gain, Venezuela’s loss.

  • Rob Moore

    What did socialists use before candles?

    Electricity.

    • placitas

      Bravo, Rob. Good one.

  • Duperray

    Hey guys, you a unfair: The fact they have massive very heavy crude oil reservoirs has nothing to do with political system, but Geology. US, now so proud (at least journalists) is also unable to extract heavy crude oil by fracking, at least not yet. Fracked oil is light crude that Southern US is not adapted to use as stock, hence the need for Keystone access to Canada heavy (less heavy, “pipable”).
    They have enough self created leftist problems everywhere in their economy, no need to unfairly further submerge them with invented ones. By the way we can read that many US citizens think their country is quickly converted to dominant federal system thanks to Obama: be prepared

    • LuapLeiht1

      And why did refineries in the Southern US adapt to use heavy crude as stock? Because Venezuela had plenty of it and it was cheap…

  • Follow the money…

  • bflat879

    Anyone who knows the history of this understands the irony of it. I can remember when Chavez was promising to send oil to the poor citizens of Massachusetts, because he had so much of it. Shortly after that, he fired all the foreign oil companies and nationalized the oil industry. The rest is history and this is the end result.

  • The harder socialism is tried the harder it fails.

  • barbaro70

    I would die laughing at this bit of poetic justice if I didn´t have very good personal Venezuelan friends who are suffering terribly as a result of the Obamaesque stupidity of populists in general and of Chávez and Maduro in particular. When will they learn, the Americans who voted for Obama, whatever their reason, and the socialists/populists around the globe? When, oh when, will they learn.

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