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Scruffy1

(3,258 posts)
11. That depends on the price of oil.
Wed Jan 23, 2019, 09:53 PM
Jan 2019

Nearly all of the reserves are in the form of Orinico crude. Most of these reserves only become reserves when the price of oil reaches $100 per barrel because their reserves are similar to tar sands and require a lot to produce and refine. Even if the pricIt's not a coine goes up they probably couldn't increase production a lot because iy would take huge amounts of capital to upgrade old sysytems and build new ones and they have burned most of their bridges to the wealthy ciuntries. My guess is they will either become Chinese or Russian dominated in order to survive. It's no coincidence that countries that have lots of oil (including the US) have screwed up politics.

Looks Maduro might finally go down Amishman Jan 2019 #1
This is a scary situation.... Hulk Jan 2019 #2
Its been a mess for years with food and prescription drug shortages, kids starving in shanty towns mastermind Jan 2019 #4
Venezuela is not a socialist country, it is a dictatorship Perseus Jan 2019 #6
Its a democratic country that has a hard fasicist right minority. juxtaposed Jan 2019 #8
It hasnt been a democratic country for YEARS. A true free vote hasnt been held for a long time. oldsoftie Jan 2019 #12
Which mainstream party in Venezuela GatoGordo Jan 2019 #18
It may not be in reality a "socialist government".... Hulk Jan 2019 #9
Humanity suffers from being enamored by many myths.... KY_EnviroGuy Jan 2019 #21
The drop in oil prices Sgent Jan 2019 #20
Venezuela has the world's largest oil reserves... brooklynite Jan 2019 #3
That depends on the price of oil. Scruffy1 Jan 2019 #11
Let's Hope It Isn't Too Violent PaulX2 Jan 2019 #5
Amen oberliner Jan 2019 #7
Hopefully the troops will soon side with the people. oldsoftie Jan 2019 #13
their Bolivarian revolution has come to a sticky end, i think 0rganism Jan 2019 #10
Cuba is an example of "success"? oldsoftie Jan 2019 #14
"success" in transitioning from state capitalism to socialism, yes 0rganism Jan 2019 #34
Ok. Got it. thank you for the clarification oldsoftie Jan 2019 #37
"successfully making the move from state capitalism to socialism is Cuba" EX500rider Jan 2019 #17
I can't think of a single "win" anywhere for Socialism GatoGordo Jan 2019 #28
No matter what your politics are, there is no denying that Hugo Chavez was more effective Polybius Jan 2019 #15
What about Caldera? oberliner Jan 2019 #16
I never heard much about him Polybius Jan 2019 #30
Seems like some of the pre-Chavez folks were fairly effective leaders oberliner Jan 2019 #39
Madura had the good fortune to die before things got bad GatoGordo Jan 2019 #19
Huh? oberliner Jan 2019 #24
my response was to Polybius GatoGordo Jan 2019 #26
But Madura is still alive oberliner Jan 2019 #27
Mea culpa (EOM) GatoGordo Jan 2019 #35
He likely meant to say Hugo Polybius Jan 2019 #29
Yes he was. he died before he was able to finish running it into the ground & stealing everything. oldsoftie Jan 2019 #38
Here are some sites to keep track of latest news from Venezuela.... KY_EnviroGuy Jan 2019 #22
Thank you for sharing those links oberliner Jan 2019 #23
One thing is a given here, and not discussed much... KY_EnviroGuy Jan 2019 #25
Protestors on TV enid602 Jan 2019 #31
Can you shed some more light on that? oberliner Jan 2019 #32
Caracans enid602 Jan 2019 #33
I married a Venezuelan mestizo GatoGordo Jan 2019 #36
The pictures seem in line with the demographics to me: EX500rider Jan 2019 #40
can't tell from this picture GatoGordo Jan 2019 #41
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