Latest Breaking News

EX500rider

(12,214 posts)

117. Venezuela like every other oil producing country sells all it can at the current market rate.

Sun May 3, 2015, 01:07 PM

May 2015

Unfortunately for them when the price goes under a $70-$80 a barrel they run a deficit.

And it's not because they nationalized their oil back in 1976.

"According to consulting firm PFC Energy, only 7% of the world's estimated oil and gas reserves are in countries that allow private international companies free rein."

http://en.wikipedia.org/wiki/Nationalization_of_oil_supplies

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

179 replies

= new reply since forum marked as read

Highlight:

Venezuela to nationalize food distribution [View all] Zorro May 2015 OP

Well, what's going on right now christx30 May 2015 #1

The government and its policies are what is not working. hack89 May 2015 #2

Yeah they have those. MyNameGoesHere May 2015 #38

I know. With Maduro's poor ratings an election will bring the needed change. Nt hack89 May 2015 #41

I agree 100% christx30 May 2015 #161

This is the result of being on the US Shit List. Spitfire of ATJ May 2015 #7

LOLOLOLOLOL. GGJohn May 2015 #8

Now, just snark. salib May 2015 #25

The US is Venezuela's largest trading partner by far..... EX500rider May 2015 #37

Prove it. GGJohn May 2015 #39

Have that proof yet? eom. GGJohn May 2015 #63

The US has economic sanctions on Venezuela. Beauregard May 2015 #97

Those sanctions are against 7 govt officials for their role in the brutality against protesters, GGJohn May 2015 #99

That's what MOST of the media has said.... Spitfire of ATJ May 2015 #36

Ok then, GGJohn May 2015 #40

The fact that they are an oil rich nation with no milk should be enough. Spitfire of ATJ May 2015 #44

That's your proof? GGJohn May 2015 #45

Did it ever occur to you that mutli-national corporations have an agenda? Spitfire of ATJ May 2015 #46

You still haven't provided ANY proof that the US is responsible for GGJohn May 2015 #48

I'm going by what I've heard on NPR and "Democracy Now!"... Spitfire of ATJ May 2015 #54

Yes I do, and every thing is speculation, not fact. GGJohn May 2015 #56

And I suppose those would be "market based"? Spitfire of ATJ May 2015 #60

How the hell would I know? GGJohn May 2015 #61

Here.... Spitfire of ATJ May 2015 #66

While I admire Noam chomsky, GGJohn May 2015 #68

I did. Spitfire of ATJ May 2015 #75

Uh, no you didn't. GGJohn May 2015 #77

I posted a clip from "Democracy Now!" mentioning US sanctions.... Spitfire of ATJ May 2015 #81

Those US sanctions are against certain govt officials, not the country in of itself. GGJohn May 2015 #82

You mean we can't sell a government official a Lincoln? Spitfire of ATJ May 2015 #84

It means that the Obama Admin. slapped sanctions against certain govt. officials for GGJohn May 2015 #86

It can import it but it hasn't been getting distributed. Hence the OP. Spitfire of ATJ May 2015 #88

There is actually very little hoarding going on, the govt just likes to trump up charges GGJohn May 2015 #90

Actually, if lines are like that it proves the state run stores have the supplies. Spitfire of ATJ May 2015 #95

There are plenty of pics showing bare shelves in those stores. GGJohn May 2015 #100

Socialism didn't cause that.... Spitfire of ATJ May 2015 #102

I never socialism caused that, GGJohn May 2015 #105

Look at all the factories in Venezuela that have shut down hack89 May 2015 #107

Whichs begs the question spoutinghorn May 2015 #111

Err.. the US produces more oil than Venezuela, and we already buy most of their oil Recursion May 2015 #155

It's a lame effort to rally the people. Spitfire of ATJ May 2015 #166

Well I think the people want toothpaste, which they don't have? (nt) Recursion May 2015 #167

Politicians still don't get that the people have the web to see the truth. Spitfire of ATJ May 2015 #168

Maybe? I don't know. I'm much less confident about things than you are. Recursion May 2015 #169

They have a history of revolution.... Spitfire of ATJ May 2015 #170

So do we Recursion May 2015 #171

Exactly madokie May 2015 #47

VZ nationalized their oil industry 43 years ago. GGJohn May 2015 #52

yeah, more neoliberal bloodletting will help a lot yurbud May 2015 #160

It worked SOOOOO well in Russia during the 1930's... Archae May 2015 #3

What a disaster--Maduro is a hot mess, he doesn't have a clue. MADem May 2015 #4

This may shock you but Socialism doesn't create shortages.... Spitfire of ATJ May 2015 #65

No, but corruption and mismanagement does, GGJohn May 2015 #69

I bet if WE ever went full tilt European type Socialism there would be RW sabotage. Spitfire of ATJ May 2015 #71

Maybe, maybe not. GGJohn May 2015 #73

People like Limbaugh would call on all of his loyal listeners to take up arms.... Spitfire of ATJ May 2015 #83

Frankly, I don't give a crap what Limpballs would do. eom. GGJohn May 2015 #87

There was a time when he had real power.... Spitfire of ATJ May 2015 #89

But he never did, and that power has now evaporated. eom. GGJohn May 2015 #91

Hence, the pic. Spitfire of ATJ May 2015 #93

Ahh, now I get the context of the pic. eom. GGJohn May 2015 #94

That's O'Reilly and Hannity's fan base too. Spitfire of ATJ May 2015 #96

I wouldn't know, GGJohn May 2015 #101

You have a difficult time with humor,...don't you.... Spitfire of ATJ May 2015 #103

Sorry, was tired last night, GGJohn May 2015 #106

Irrelevant in this case FBaggins May 2015 #76

Do you agree that they are an "extraordinary threat to national security"? Spitfire of ATJ May 2015 #85

Are you saying that President Obama was lying? FBaggins May 2015 #112

They are NOT a "threat". That's just a legal fiction they had to add to justify sanctions.... Spitfire of ATJ May 2015 #126

They absolutly are FBaggins May 2015 #158

How are they a threat? Spitfire of ATJ May 2015 #163

Do you even read what you reply to? FBaggins May 2015 #173

LOL!!! Oh sure, next you'll claim we need to do sanctions against Greece. Spitfire of ATJ May 2015 #174

Laughable FBaggins May 2015 #176

It's only a "threat" if you believe Capitalism is the only way to go. Spitfire of ATJ May 2015 #177

This is why the distribution is being taken over.... Spitfire of ATJ May 2015 #128

Indeed ChangoLoa May 2015 #134

Oh make no mistake about it, when it does fail, GGJohn May 2015 #142

This may shock you but there are more than just two options. FBaggins May 2015 #74

A lot of their problems are based on their reliance on oil as their main export. Spitfire of ATJ May 2015 #79

Close FBaggins May 2015 #110

"their current economic woes are almost entirely of their own making" Spitfire of ATJ May 2015 #130

Try? Possibly... but succeed on that scale? No. FBaggins May 2015 #157

"Bad" according to who? American economists? Spitfire of ATJ May 2015 #165

No... not just American economists FBaggins May 2015 #172

price caps creeksneakers2 May 2015 #78

Letting stuff sit in warehouses until it rots does too. Spitfire of ATJ May 2015 #80

Which is a result of the price caps...selling under cost is a bad business model. EX500rider May 2015 #108

People are not going to sell goods at a loss hack89 May 2015 #114

People are not going to sell goods if it can cause loss of support for a government they don't like. Spitfire of ATJ May 2015 #127

But that is not the case here. hack89 May 2015 #129

That flies in the face of the fact that they do have money.... Spitfire of ATJ May 2015 #131

They had dollar shortages before oil prices tanked hack89 May 2015 #133

I'm sure the World Bank calling in their former loans has nothing to do with that. Spitfire of ATJ May 2015 #135

Chavez paid off those loans 5 years early in 2007 hack89 May 2015 #139

I read that he quit them. Not that he paid them. Spitfire of ATJ May 2015 #151

You read wrong. Nt hack89 May 2015 #152

Jeez. GGJohn May 2015 #144

Chavez had 12 years to diversify hack89 May 2015 #136

Why are you pretending Maduro is a "socialist?" MADem May 2015 #115

Where did they go? Spitfire of ATJ May 2015 #132

The Grand Caymans (if by "they" you mean the MONEY) and real estate holdings in FL MADem May 2015 #154

From what I've read it's due to oil prices dropping.... Spitfire of ATJ May 2015 #164

Thought I smelled smoke.... Spitfire of ATJ May 2015 #5

How to make a bad situation worse. FLPanhandle May 2015 #6

No, he has a playbook. Igel May 2015 #17

Party is mother, party is father ChangoLoa May 2015 #137

Why all the right wing talking point responses. salib May 2015 #9

Maduro created this mess with his policies hack89 May 2015 #10

Well, I guess if the right wing TPs are called out, then default to snark. salib May 2015 #12

There is no embargo against Venezuela hack89 May 2015 #13

Funny, I said "near embargo" salib May 2015 #15

There are no economic sanctions against Venezuela hack89 May 2015 #28

Yes, there are salib May 2015 #31

"Nor prohibit the export of crude oil to the United States" hack89 May 2015 #33

The "oligarch" is the one who controls the oil industry n/t ChangoLoa May 2015 #138

Your whole post is ridiculous. GGJohn May 2015 #14

More of the same. salib May 2015 #18

Forgive me if I am mistaken but are you arguing with them that US policy is to blame for cstanleytech May 2015 #35

They've arrested people who were hoarding to create shortages to jack up the price. Spitfire of ATJ May 2015 #49

That's what they claim, GGJohn May 2015 #53

"Corrupt"? By WHO? The USSR? Spitfire of ATJ May 2015 #55

Corrupt by any standard of ethics. eom. GGJohn May 2015 #58

Now it's your turn to provide examples. Spitfire of ATJ May 2015 #59

Easy. GGJohn May 2015 #62

LOL!!! You call THAT "corruption"? Spitfire of ATJ May 2015 #64

You really need to get informed on the oil industry in VN. GGJohn May 2015 #67

All of that reads like a oil company press release. Spitfire of ATJ May 2015 #70

All that reads like the truth of the state of VN's oil industry, electrical grid and economy. GGJohn May 2015 #72

All of the nation's wealth was going towards the rich folks at the top.... Spitfire of ATJ May 2015 #98

Since the oil industry is nationalized I assume you mean the $ is going to Maduro & his cronies? EX500rider May 2015 #109

It's obvious that poster doesn't know a thing about the country or it's economics, otherwise MADem May 2015 #120

And now VN is going to buy more weapons from Russia and China. GGJohn May 2015 #122

Trade away more of that heavy, sour oil!!!! nt MADem May 2015 #123

".....were hoarding to create shortages to jack up the price" EX500rider May 2015 #116

There's disaster capitalism. Igel May 2015 #19

Wow, that is a clever turn of phrase, right. salib May 2015 #21

"The Cold War is over. Give it up and step out of that box. " Spitfire of ATJ May 2015 #57

Nothing is wrong with those, christx30 May 2015 #16

Now it sounds like George Will salib May 2015 #20

But it IS about what the country can afford. christx30 May 2015 #22

Ok, again, a country's economy is not in any way like that of a family, salib May 2015 #29

Because thinking like that christx30 May 2015 #30

Wow, more snark. salib May 2015 #32

That's great snark. christx30 May 2015 #34

Maduro and Chavez greatest crime.. clg311 May 2015 #11

Thank you. salib May 2015 #23

More useless slogans. eom. GGJohn May 2015 #43

Venezuela like every other oil producing country sells all it can at the current market rate. EX500rider May 2015 #117

I guess the Maduro haters. clg311 May 2015 #124

... GGJohn May 2015 #125

More corporate media propaganda clg311 May 2015 #140

You have no fucking idea of why VN is my business, GGJohn May 2015 #143

So why is it your gd business then? Zorro May 2015 #145

Just responding to the ignorant attacks on Maduro. clg311 May 2015 #146

Not ignorant, GGJohn May 2015 #149

Obama and Hillary supported the Honduras "coup"? Zorro May 2015 #141

God the ignorance! clg311 May 2015 #147

Eva Golinger? Zorro May 2015 #148

Eva Golinger????? GGJohn May 2015 #150

HAHAHA, "Global Research" EX500rider May 2015 #153

There are so many articles written on the subject, and they can't attack them all, can they? Judi Lynn May 2015 #156

Don't you ever tire of bombarding forums with anti-US/anti-Obama/anti-Democratic agitprop 24/7? Zorro May 2015 #159

Obama's policy regarding Venezuela, as one example, is indestinguishable from George Bush's. Judi Lynn May 2015 #178

Thanks! NT clg311 May 2015 #175

I forgot to mention, welcome to D.U., clg311! Judi Lynn May 2015 #179

If the farms are owned by the government, and the workers paid as government employees, no problem. freshwest May 2015 #24

I smell burning Ne 3s2 3p4 seveneyes May 2015 #26

I wonder who they'll blame when this doesn't work. name not needed May 2015 #27

Whom ever is convenient. eom. GGJohn May 2015 #42

The ones who buy their oil? Nah, couldn't be. And they won't dare squeak at China. n/t freshwest May 2015 #104

I'm guessing Maduro's supporters will get food and anyone who opposes Maduro won't. NobodyHere May 2015 #50

Maduro doesn't look like he's missed any meals. nt MADem May 2015 #121

Maduro is incompetent, just like his predecessor. Little Tich May 2015 #51

this is a JOBS Program quadrature May 2015 #92

the US is the second largest agricultural exporter to Venezuela Bacchus4.0 May 2015 #113

yeah, worlds worse "embargo".....lol EX500rider May 2015 #118

I LMAO when someone claims the US has economic sanctions against VN. GGJohn May 2015 #119

It will make shortages and distribution worse. n/t Bacchus4.0 May 2015 #162