May 20, 2022 11:44 am

Venezuela’s Oil Sector In Late 2013

When Bernie Sanders announced his candidacy, and called himself an admitted socialist, I thought to myself “oh my god, they want to turn America into Venezuela,” and then I remember back in 2013 when Venezuela fell apart after so many mistakes by Hugo Chavez, their socialist President, turned quasi-dictator. Meanwhile, I found it interesting that Democrats in our country said Venezuela’s melt down didn’t have anything to do with socialism, rather they said it had to do with poor leadership mistakes made by the President there. Well, yes, but he did all the things socialist leaders do when they get into power.

Now then back then in 2013 there was an interesting article in the Seattle paper on Thanksgiving Day titled; “Venezuela secures loan from Russia’s Gazprom,” apparently one of those reprints from the Associated Press, which stated; “Venezuela’s state-run oil company has secured $1 billion in financing from Russia’s Gazprom to help the oil-dependent economy boost sagging output,” and “another loan for $1.2 billion from Spain’s Repsol should be finalized next month. That would bring to nearly $10 billion the amount PDVSA has raised from its foreign oil partners this year.”

What do I think of all that? Well, if you ask me; does it make sense to loan money to Venezuela? I say; no way, very stupid, unless the Russians want to capitalize and take over the platforms built by Conoco and other US oil firms that Venezuela stole and nationalized and then lost 35% productivity at a time when oil prices dropped. It’s all about dirty global politics, money, socialist greed, and oil isn’t it? I wouldn’t loan money to Venezuela under any circumstances – nor Bolivia, nor Argentina, nor Ecuador for that matter.

These governments are known to cozy up to the rest of the world and then take. Reminds me of what Hitler did when he bought from the rest of the world, then established a bureaucracy to sting out the payments, then started a war and everyone didn’t want to get involved for fear of losing payment. Saddam did this too. Remember the French, Spanish and Russians didn’t want the US to go into Baghdad, as they were cheating the oil for foods program – the whole thing is rotten in Venezuela – bad move by Gazprom, they will be sorry in the end.

Fast Forward to now, well we see what happened – now as we enter 2017, Venezuela has terrible murder rates, food lines that run out of food, hyper-inflation, destroyed economy, people starving, no citizen rights, forced labor – wow, it’s always the same story when socialism finally has to pay the piper.

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