 (CNN) – Venezuela's Hugo Chavez, who died this week, built his support on a populist platform of sharing the country's oil wealth with the poor. Yet Venezuela's economy, and the future of its oil industry, remains deeply vulnerable. CNN's John Defterios talks with Fereidun Fesharaki, the chairman of FACTS Global Energy, who says the country's oil industry is in a "shambles." So what challenges a new leader face? |
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Chavez destroyed the oil industry
PDVSA is a JOKE compared to where it was in the 1980's and 1990's .
Production is down by 40% from those days , the infrastructure is broken down and needs Billions and Billions in new investment
Chavez destroyed it
Maduro , the Clown , will make it even worse
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Reblogged this on Longhorn Web Design.
Big happening, it was a dark Day but i believe in a good future for venezuela
I don't even know the way I ended up here, but I assumed this post was once good. I don't understand who you might be but definitely you are going to a well-known blogger if you are not already. Cheers!
John,
http://pedrohidalgovargas.blogspot.co.uk/
On the above blogspot you will find details of a crime thriller I shall be publishing around mid-May after the results of the elections are declared. Although the book is a crime story, there is a discussion within it of the last days of Chavez and the way in which people were misinformed about his health and capacity to govern. it also covers the election campaign and the continuing socialist rhetoric parroted by Maduro who must have learnt most of it during his indoctrination years in Cuba. One day, he may realise that the Cubans are quietly dismantling their brand of socialism because it just doesn't work!
The book talks of some of the beauty of Venezuela and includes journeys to Salto Angel, Carupano, San Cristobal, Puerto La Cruz and, of course, Caracas.
I have also commented on fraud and corruption in Venezuela. Fonden is a particular target as is the enrichment of certain people either close to, or at, the top of the Chavez regime.
maracaibo,where most of oil companies are based,has THE WORST public transport in the world,what a mess...
No, V's oil future is not in shambles. The current oil industry churns out sufficient petro to allow V 5.2+gdp and Current Account Bal of +17.1B while the U.S. GDP languishes at 1.4+ and its CAB a staggering -477.9B (Economist). V's oil future may be temporarily saddled with political confusion, but the future for V's oil actually looks quite good. Neither of today's presidential candidates is Chavez. The oil industry will improve simply due to high demand.
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