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  • Originally posted by Artyom_A View Post
    Eh, no. Venezuela's problem is not "incompetence" but a lack of money. They have a lack of money because their oil export is record low:
    https://www.bloomberg.com/news/artic...falling-output
    And the export is record low largely because of sanctions imposed by US:
    https://www.reuters.com/article/us-v...-idUSKCN1QH2O6
    Simply put USA is one of the authors of their demise who strangles the Venezuela's economy to effect regime change.


    20190112_AMC109.png

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    • Originally posted by Gooner View Post
      shhhh lefties don't like facts...
      the answer is on the floor- john roseberry

      A tiger dies and leaves his fur,
      A man dies and leaves his name,
      A teacher dies and teaches death.
      Seikchi Toguchi 1917-1998

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      • When it comes to oil, it isn't the US that's the problem. It's that Maduro nationalized most of the oil production and pissed off the big multinational oil corporations like Exxon, BP, or Shell. They responded by making damn sure that neither they nor their support companies like Schlumberger or Bechtel will do anything for Venezuela.
        That's what happens when you criminally take somebody's property without compensation. Maduro can't buy in solid gold replacement parts or expertise to keep Venezuela's oil fields operating now. So, they are slowly crumbling into ruin.

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        • Originally posted by T. A. Gardner View Post
          When it comes to oil, it isn't the US that's the problem. It's that Maduro nationalized most of the oil production and pissed off the big multinational oil corporations like Exxon, BP, or Shell. They responded by making damn sure that neither they nor their support companies like Schlumberger or Bechtel will do anything for Venezuela.
          That's what happens when you criminally take somebody's property without compensation. Maduro can't buy in solid gold replacement parts or expertise to keep Venezuela's oil fields operating now. So, they are slowly crumbling into ruin.
          Nope. I've worked as a senior management consultant in a number of nationalised oil companies that were formerly BP and/or Shell (QGPC, ADNOC, ADMA etc) alongside Shell and/or BP and other international oil companies where these have been taking massive management fees quite happily. I've also bid for my employer to supply consultancy services (sometimes successfully) against Schlumberger and others of that ilk into said nationalised oil companies. What the big international companies are worried about is can the nationalised companies pay them in hard stable currency on a reliable basis? To use a very non PC Chinese term "no tickee no washee". These companies will work with almost any one - if they get paid their fees. What I am hearing is that the Maduro regime is so inefficient and so corrupt that such companies aren't getting paid.
          Human history becomes more and more a race between education and catastrophe (H G Wells)
          Mit der Dummheit kaempfen Goetter selbst vergebens (Friedrich von Schiller)

          Comment


          • And, you are wrong.

            As this article, one of many points out:

            So there are primarily two related causes that have resulted in the steep decline of Venezuela's oil production, despite the sharp increase in the country's proved reserves. The first is the removal of expertise required to develop the country's heavy oil. This started with the firing of PDVSA employees in 2003 and continued with pushing international expertise out of the country in 2007.

            Second, the Chávez government failed to appreciate the level of capital expenditures required to continue developing the country's oil. This was in no small part due to inexperience among the Chávez loyalists that were now running PDVSA, but it may not have mattered in any case. When oil prices were high, Chávez saw billions of dollars that could be siphoned to fund the country's social programs, and that's exactly what he did. But he failed to reinvest adequately in this capital-intensive industry.
            https://www.forbes.com/sites/rrapier.../#38f72e5b7399

            Chavez, then Maduro replaced competence in management of Venezuela's oil industry with loyal cronies and incompetence. By expropriating foreign corporation's investments, these corporations stopped investing and won't invest in Venezuelan oil. The result is a plummet in production as the fields, like Venezuela's electric grid and other public services, fall into ruin.
            So, what normally would be a capital intensive industry is in ruin as Chavez, then Maduro pulled the profits out to prop up Socialism along with installing incompetence and angering foreign corporations into not wanting to work in Venezuela. The result is the ruin of the Venezuelan oil industry.

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            • Originally posted by T. A. Gardner View Post
              And, you are wrong.

              As this article, one of many points out:



              https://www.forbes.com/sites/rrapier.../#38f72e5b7399

              Chavez, then Maduro replaced competence in management of Venezuela's oil industry with loyal cronies and incompetence. By expropriating foreign corporation's investments, these corporations stopped investing and won't invest in Venezuelan oil. The result is a plummet in production as the fields, like Venezuela's electric grid and other public services, fall into ruin.
              So, what normally would be a capital intensive industry is in ruin as Chavez, then Maduro pulled the profits out to prop up Socialism along with installing incompetence and angering foreign corporations into not wanting to work in Venezuela. The result is the ruin of the Venezuelan oil industry.
              With more than 20 years of experience in the industry and having visited the Venezuelan industry in the past I am right. You don't seem to understand the material you are quoting. The reason why the industry in Venezuela is in such a bad way is that they were unable to pay for the necessary expertise because they spent the money on other things and they failed to invest the necessary money in development and maintenance of the fields both because they no longer had the expertise to realise that it was necessary and because they didn't have the money because they spent it on other things (including their own personal enrichment). The problem with neglecting a working oil field is that it costs many multiples of the money you don't spend in maintaining it to recover from the neglect and you may loose some wells altogether resulting in a fall in income (and have to rework or redrill) and even lose whole reservoirs. Much the same happened to the Iraqi industry under Saddam and to the Iranian fields.
              The international oil companies never owned the fields - they owned the concessions to drill and work the reservoirs but still paid a royalty on what they extracted and the concessions were like leases - they still had to be renewed from time to time. Nationalisation was usually tempered by the fact that they still made income from managing the fields and substantial fees that were related to the amount of oil recovered.
              Human history becomes more and more a race between education and catastrophe (H G Wells)
              Mit der Dummheit kaempfen Goetter selbst vergebens (Friedrich von Schiller)

              Comment


              • Originally posted by MarkV View Post

                With more than 20 years of experience in the industry and having visited the Venezuelan industry in the past I am right. You don't seem to understand the material you are quoting. The reason why the industry in Venezuela is in such a bad way is that they were unable to pay for the necessary expertise because they spent the money on other things and they failed to invest the necessary money in development and maintenance of the fields both because they no longer had the expertise to realise that it was necessary and because they didn't have the money because they spent it on other things (including their own personal enrichment). The problem with neglecting a working oil field is that it costs many multiples of the money you don't spend in maintaining it to recover from the neglect and you may loose some wells altogether resulting in a fall in income (and have to rework or redrill) and even lose whole reservoirs. Much the same happened to the Iraqi industry under Saddam and to the Iranian fields.
                The international oil companies never owned the fields - they owned the concessions to drill and work the reservoirs but still paid a royalty on what they extracted and the concessions were like leases - they still had to be renewed from time to time. Nationalisation was usually tempered by the fact that they still made income from managing the fields and substantial fees that were related to the amount of oil recovered.
                reading both of your guys' post it seems to me you're saying the same things, so i'm not sure why your post seems to have a defensive argumentative tone.

                you're both saying foreign companies no longer want to work with venezuela in the oil industry, you are both saying that chavez and maduro failed to invest appropriate amounts of money into their oil industry to keep it running smoothly and effeciently....
                the answer is on the floor- john roseberry

                A tiger dies and leaves his fur,
                A man dies and leaves his name,
                A teacher dies and teaches death.
                Seikchi Toguchi 1917-1998

                Comment


                • Originally posted by General_Jacke View Post
                  ...

                  you're both saying foreign companies no longer want to work with venezuela in the oil industry, you are both saying that chavez and maduro failed to invest appropriate amounts of money into their oil industry to keep it running smoothly and effeciently....
                  Funny how that works, ain't it?
                  Or in Venezuela's case.... doesn't work at all!

                  And as is so often the case, Socialists blame all their failures on everyone else under the sun.

                  If it was such a wonderful system, you'd think it could survive if one (yep, just this one) exercises it's freedom to not trade with you or loan you tons and tons of money.

                  You'd think that China could take up the slack....
                  So, where are they?
                  Could it be that a nation with 4 times our population and an economy that is supposedly the fastest-growing in the world isn't all it's cracked up to be?
                  Of course it could, its still a Communist Dictatorship, and the good times were never going to last that long.

                  "Why is the Rum gone?"

                  -Captain Jack

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                  • Well, the electrical problems in Venezuela are due to the same thing. The Tocoma dam, a huge new hydroelectric project was supposed to be on-line in 2012. It still isn't. This is due entirely to incompetence and corruption in its construction.

                    Today, when the SEN has collapsed, the Tocoma project suffers a 7-year delay for delivery, and its cost tripled since the original approved budget, from $3 billion originally to $9,4 billion by 2017. Meanwhile, Brazilian construction company Odebrecht, responsible for the civil work and encumbered with corruption cases across the continent, never finished building it.

                    This reality, along with a lack of investment, the multi-level corruption in CORPOELEC, and the shay contracts granted to ghost companies like Derwick Associates (which embezzled over $1,2 billion in public funds) pushed Venezuela from its place as a continental electric generation giant to primitive darkness right in the 21st century, a present that’s much more bitter when you remember the promise of Venezuela becoming a “power nation” that Venezuelans heard for 20 years, and ended in literal and metaphorical dusk.

                    https://www.caracaschronicles.com/20...-hydro-system/

                    It's the same problem. Massive corruption, lots of incompetence, and a government that really doesn't give a $h!+. After all, they're accountable to no one.

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                    • http://cepr.net/images/stories/repor...ns-2019-04.pdf

                      Sanctions killed aroud 40 000 people in Venezuela. No wonder why they don't American puppets.
                      There are no Nazis in Ukraine. © Idiots

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                      • Originally posted by Emtos View Post
                        http://cepr.net/images/stories/repor...ns-2019-04.pdf

                        Sanctions killed aroud 40 000 people in Venezuela. No wonder why they don't American puppets.
                        They blame Maduro he’s the reason they’re in the situation they’re in with the sanctions they want him removed the far left has no home with most Venezuelans.

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                        • They don't want him removed. Those are tales.
                          There are no Nazis in Ukraine. © Idiots

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                          • Originally posted by Emtos View Post
                            They don't want him removed. Those are tales.
                            Only fantasy is yours.

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                            • Originally posted by Emtos View Post
                              They don't want him removed. Those are tales.
                              Reread the link in post 105 on this thread.

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                              • Look at the size of pro-Maduro manifestations.
                                There are no Nazis in Ukraine. © Idiots

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