Fifteen years after Hope and Change came to Venezuela — the country with largest proven oil reserves in the world — now has to import oil.
For the first time in its 100-year history of oil production, Venezuela is importing crude — a new embarrassment for the country with the world’s largest oil reserves.
The nation’s late president Hugo Chávez often boasted the South American country regained control of its oil industry after he seized joint ventures controlled by such companies as ExxonMobil and Conoco. But 19 months after Chávez’s death, the country can’t pump enough commercially viable oil out of the ground to meet domestic needs — a result of the former leader’s policies.
Socialism came to power in Venezuela by promising that they would take money away from some people and use it to buy stuff for their supporters; a value proposition that should seem quite familiar to American voters in the Obama Era.
The Socialists who ran the Government of Venezuela were certain that they knew better how to run the oil industry and the economy better than the free enterprise system; and the result would be a more fair and equal economy for everybody; a promise that should also be familiar to Americans living in the Obama Era.
And whenever the Socialist Government of Venezuela’s policies failed, they blamed big business and obstruction by the political opposition; which should also be very familiar to Americans in the Obama Era.
Government officials have tried to downplay the significance of Venezuela’s decision to import crude from Algeria and Russia. The company in a statement warned Venezuelans not to believe criticism by the opposition, repeating a constant government theme that setbacks are the result of an “economic war” being waged against the country, a campaign it says is aimed at toppling the regime.
It’s completely fair to say that Hugo Chavez fundamentally transformed Venezuela. And even though everyone except the party elite are now living in abject poverty; they are living in equivalent abject poverty.
Yeah, communism makes everyone equal–equally miserable and equally poor. Unless you are a ruling government elitist. But hey, that’s less than the 1% over in communist countries, so it’s all good, right?
I have a friend who grew up in Bulgaria, in a very hilly country. There was only one or two kinds of cars available for people to buy, stick shift three speeds. There were no other choices, so everyone, even the “rich” people were forced to drive these cars. He also talked about how people were constantly stealing stuff because there wasn’t enough to go round. His parents won the annual lottery to come to America when he was a teen, fulfilling his childhood dream of living here. He went to college in Boston, got a degree in comp sci and is working at Microsoft now.
Yes, the American dream use to be all about starting from nothing, working hard and being rewarded for hard work. Now we are devolving into starting from nothing, not working at all and being given all kinds of free stuff. It’s hard to believe that we have shifted so far as a country in such a short time.
Maduro and company also charge Venezuelans 6 cents a gallon for gas. So the people use it up since it is another government freebie. But I consider Venezuela a Communist country because they don’t permit dissent while socialist countries at least have fair elections.
Social infections, like socialism don’t go away. Unless they’re outlawed as a matter public health or as terrorist organizations.
Europe has varying degrees of socialism, saturating its societies; allowing a base to work from, for the rest of the planet. Including the Europe-envy Democrats (Liberals) in the US.
Candidate Chavez lied. In his 1998 interview with Jorge Ramos, he was asked if he was a communist or a socialist. He flatly denied it saying that he was pro business. After being elected president is when he revealed his true self. After the failed coup in 2002, in which he was overthrown for 48 hours (G.W. Bush immediately recognized the new president). Once back in power W was on his sh*t list. Also, he doubled down and took a page out of Hitler’s book. He required the military to take a new oath of allegiance, to him, to the revolution, and to 21st Century socialism. “It is socialism or die.” He expected that oil will always be about $120.00 a barrel, so he could sell to his ALBA partners
at below market prices and on credit; 50% now and the balance over twenty years and not necessarily in money but in products. With the price of oil falling ALBA partners find that the cost of oil from Venezuela is higher than on the open market. Maduro continues Chavez’s failed policies, which has created scarcity and empty shelves. An uncle by marriage tells me that lines are long for everything. He has to wait two hours to enter the supermarket. If he wants to buy chicken, the butcher asks how many in his family. They’re five. And that is what the butcher gives him, five pieces of chicken. Toilet paper is among many items that are scarce or rationed.
A few years back Chavez entered into an alliance with Iran. Iranians are there extracting uranium which is being enriched for Iran’s nuclear program.
Last year Venezuela, through ALBA, El Salvador contributed $40 million to the presidential campaign of Commander Salvador Sanchez Ceren. He won by a very slim majority, forwhich he is determined to implement Chavism here. It is inconceivable that after seeing on t.v. the chaos in Caracas and the long lines for services and to enter the supermarkets, that people here want to have socialism implemented here.
Insanity is doing the same thing over and over with the expectation of different results. Leftists are insane.
Venezuela is following the lead of Mexico and Brazil. This has nothing to do with failure. It has everything to do with good science and good business. http://in.reuters.com/article/2014/10/27/venezuela-oil-imports-idINL2N0SG1Q220141027
This has been discussed in my classes in geology/mining at http://www.sdsmt.edu/ . Venezuela produces heavy crude oil and for decades has been purchasing foreign manufactured solvents to dilute their oil and make it easier to refine. The solvents they purchase are more expensive than importing light crude oil.
Chavez was pathological about putting politics above practical business sense. He would have never let imported oil in. He’s dead and practical business decisions seem to be leading Venezuela’s oil production.
But don’t take that as my support for Socialism or Venezuela! I only wanted to set the record straight on that. There’s no such thing as a socialist scam that’s worked.
I’ve come up with a butt kicking line when some idiot at school starts in about “from each according to their abiltiy, to each according to their need.” I tell them to try that theory on their sex lives and see how far it gets them.
” to each according to their need.” I tell them to try that theory on their sex lives and see how far it gets them.”
This is a gay blog, how long have you been out that you don’t know how needy many in the community are? I guess South Dakota doesn’t have many gay bath houses/gyms or graveyard/railroadtrack hookups.
http://investmentwatchblog.com/north-pole-covered-in-ice-over-8-days-time-south-pole-still-record-levels/
Al Gore owes someone an apology.
That’s because liberals always pull out the “mean conservatives kept awesome lefty ideas from working; excuse when lefty governments fail.
Chavez set price controls, and the liberal fools like Sean Penn cheered him as a champion of the poor. They never think about things like just who in the hell is going to work to make goods if they can’t make a profit. So businesses close their doors, people loose their jobs and there is a shortage of basic necessities like toilet paper, and the liberals have no idea why.
Logic has never been the liberals’ strong suit.
the leftists and their supporters never consider just who the hell is going to work after they implement their socialist economy. after they spend the initial wealth they confiscate what do they do then. there is a reason they have labor camps in communist countries. nobody wants to work in the workers paradises.
” to share according to your needs” is the single worst idea in the history of mankind. it means if you want more you have to make yourself worse off. need a better definition of life in America’s inner-cities. and leftists tell us that is humane.
cashless,
Many small and medium size businesses have closed,and the owners who have not been imprisioned have fled Venezuela. A major supermarket was nationalized, like the petroleum industry, just before Chavez died. The army marched into a number of outlets and the managers and employees were dismissed as Chavez’s loyalist were put in their places. About five years ago opposition channel Globovision, went underground and operates via internet, while Chavez’s creation Telesur occupies the former’s installations. In Colombia, the rebel group FARC is in the narcotics business, and in a relationship begun with Chavez, drugs are shipped via Venezuela pilots to Honduras, for further distribution in Central and North America. Organized crime uses gangs such as Mara Salvatrucha, and 18th Street to further distribute and sell drugs. In Cuba, the University of Havanna Med School graduates about 5,000 students, from many countries, every year. With every consultation with the doctor , the patient receives a dose of socialism.
This is not a domestic problem it is a worldwide problem (socialism) and unless freedom loving people (the right) unite we will be swallowed up by it.
So we win the Senate today, and maybe the Whitre House in 2016. But what guarantee do we have that after 2020 another Barak Obama becomes president and redistributes our wealth and mortgages the country into bankruptcy like Greece, and Portugal. Moreover, makes the U.N. constitution as the final guide.
Unfortunately Roberto, there is no guarantee. It is a never ending fight against liberalism.