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Crumbling Venezuelan oil sector expected to remain hostile to U.S. investment

Dallas Morning News -- Hugo Chávez is gone, but his political allies and alliances are not expected to make major changes in the weak development of Venezuela’s enormous oil reserves.
Venezuela’s constitution requires presidential elections within 30 days, and the country has been almost evenly divided between Chávez loyalists and opponents. Chávez was re-elected in October although never inaugurated due to illness.
For now, his handpicked vice president, Nicolás Maduro, is acting president and the most likely candidate to lead Chávistas in any election.
Oil analysts here for IHS CERAWeek 2013, the energy industry’s big annual conference, blame Chávez’s socialist policies for a decline in Venezuela’s oil industry over the past 14 years. Despite having more oil reserves than any other country, production peaked..


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Submitted Mar 07, 2013 By: 1studman
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Crumbling Venezuelan oil sector expected to remain hostile to U.S. investment Back to Topics
REPLIES (newest first) Post a Reply
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sydb7
Champion Author Atlanta

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Message Posted: Mar 9, 2013 6:58:27 AM

Can you blame them?
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rrs517
Champion Author Colorado

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Message Posted: Mar 8, 2013 6:58:31 AM

No surprise is it?
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tomok
Champion Author Portland

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Message Posted: Mar 8, 2013 1:26:25 AM

Crumbling Venezuelan oil sector expected to remain hostile to U.S. investment. It will take years before anything happens in that country towards the US. The Venezuelan people have been told one thing for so long and they believe it. Hugo's government is still in place and nothing will change there very soon. So much for Cuban health care!
Just like the government here, when Sneeky's term is finally over, the economy will start to recover at a faster rate and the real truth will come out.
Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
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jethro5000
Champion Author Kentucky

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Message Posted: Mar 8, 2013 12:37:10 AM

Yesterday's news...
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Mar 7, 2013 10:59:29 PM

Follow their example and have very low pump prices....
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Vette1967
Champion Author Albany

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Message Posted: Mar 7, 2013 10:57:44 PM

No surprise.
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KhelbenArunson
Champion Author Michigan

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Message Posted: Mar 7, 2013 10:40:09 PM

oh well there loss.
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A_NY_Outlaw
Champion Author Albany

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Message Posted: Mar 7, 2013 9:10:32 PM

Wow. Simply shocking. Maybe we need to send our new good-will ambassador Rodman over there so he can tell them what a great job they are doing.
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btsom
Champion Author Oklahoma City

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Message Posted: Mar 7, 2013 9:03:56 PM

Big, controlling, centralized government with nationalized industries FAILS every time it is tried. Despite the propaganda, there are more poor folks in Venezuela now than when Chavez came to power. Using the class warfare cry of the left, how much money does one person need? Chavez was a multi-billionaire when he died. Couldn't he have shared some of that with his country's citizens? Typically, despots don't share. I can't help but notice that sequestration hasn't altered Obama's life style much, but school kids can't tour the White House, supposedly because of sequestration.
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jb107
Champion Author New Jersey

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Message Posted: Mar 7, 2013 9:02:27 PM

I don't know why people buy Chevron gas.
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TBRR
Champion Author Jacksonville

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Message Posted: Mar 7, 2013 9:00:13 PM

what is new. chavez proved he could not run the oil industry the same as the us government could not run the Mustang Ranch at a profit selling sex and booze. governments are only good at spending other peoples money.
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AKmailman
Champion Author Alaska

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Message Posted: Mar 7, 2013 8:59:03 PM

Nothing will change because of Chavez,
The people of Venezuela love their 4 cent a gallon gas
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jethro5000
Champion Author Kentucky

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Message Posted: Mar 7, 2013 8:58:05 PM

I'm more worried about North Korea than Venezuela ...
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Blue48
Champion Author Illinois

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Message Posted: Mar 7, 2013 8:55:55 PM

NOT A SHOCKER!
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MotoPerro
Sophomore Author Houston

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Message Posted: Mar 7, 2013 8:53:47 PM

Good Riddance, Chavez!
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MotoPerro
Sophomore Author Houston

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Message Posted: Mar 7, 2013 8:52:19 PM

Chavez/Obama... all the same. Appeal to the low-information/poor demographic which is the majority in a country like Venezuela and the result is a dictator. Wish we could send Obama the great Liar in Chief there to take Chavez' place. Anything to get him out of the U.S.
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pleinyeux
Champion Author Montreal

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Message Posted: Mar 7, 2013 8:46:58 PM

Chavez did a lot for the poor in his country but now Chavez is gone
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humblepie
Champion Author Toledo

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Message Posted: Mar 7, 2013 8:45:59 PM

they dont need no stinking yankees
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TonyPSU
Champion Author Cleveland

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Message Posted: Mar 7, 2013 8:45:57 PM

hopefully they get back to normal down there
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NO_SWEAT
Champion Author Toronto

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Message Posted: Mar 7, 2013 8:45:12 PM

No comment.
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CISA
Champion Author Orange County

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Message Posted: Mar 7, 2013 8:42:28 PM

more commies
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rodwade1
All-Star Author Maine

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Message Posted: Mar 7, 2013 8:42:09 PM

Under Chávez, much of the country’s oil revenue was directed to popular anti-poverty programs — including discounted heating oil through Citgo for 100,000 lower-income Americans.
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mrbee
Champion Author Little Rock

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Message Posted: Mar 7, 2013 8:39:30 PM

More socialists. Hope they crumble.
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rodwade1
All-Star Author Maine

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Message Posted: Mar 7, 2013 8:38:56 PM

Chevez did a lot for the poor in his country, and in the U.S. as well
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ericbcire
Champion Author Nevada

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Message Posted: Mar 7, 2013 8:38:39 PM

We don't need their oil.
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gasokie
Champion Author Oklahoma

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Message Posted: Mar 7, 2013 8:37:13 PM

BeeDee53 is right on. I'm no expert on Venezuelan oil or anything else but I can say this: I've been down there several times and the reason they kicked us out (virtually) was because they have been spoonfed anti-american propaganda for the past 75 years...at least. They blame us for every pothole, every power outage and all their ills. Their country has always also been divided among themselves. Back in the 50s they had (or so I was told) basically 3 armys in the country somewhat controlled by the president but all 3 struggling against themselves. Only thing that kept the masses down and voting right was the vast welfare programs made possible by emerging oil riches.

If their oil flow is pinched even a bit and with Chavez having also spent a bundle on unneeded and expensive military hardware the "masses" may have to cope with a lot less ... starting about now.

Our problem? Another cuba. This time the intertubes will be manned starving Venezuelans finding ways to the US. Let's see??? Dry foot policy? I think not.
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Rappcommuter
All-Star Author Virginia

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Message Posted: Mar 7, 2013 8:36:37 PM

Any surprises here?
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vjs3
Champion Author Denver

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Message Posted: Mar 7, 2013 8:36:34 PM

Not too surprising.
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MalibuClassic
Champion Author Buffalo

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Message Posted: Mar 7, 2013 8:35:18 PM

Can you say "guerra civil"? (Civil war).
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tucker355
Champion Author Manitoba

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Message Posted: Mar 7, 2013 8:35:10 PM

Just like N korea there will be another clown to take over!!!
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johton
Champion Author Seattle

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Message Posted: Mar 7, 2013 8:34:02 PM

Venezuela will probably crumble this year!
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jjjleblanc
Champion Author Rochester

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Message Posted: Mar 7, 2013 8:31:19 PM

As well as the other natural resources.
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TDIdave
Champion Author California

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Message Posted: Mar 7, 2013 8:30:39 PM

@BeeDee53: the keystone XL will NOT make us energy independent. All that oil will be exported to India and China. It's not for domestic consumption.
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TDIdave
Champion Author California

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Message Posted: Mar 7, 2013 8:29:29 PM

Let em keep their oil.
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mrreferee
Champion Author Savannah

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Message Posted: Mar 7, 2013 8:29:19 PM

who needs them when we have canadians,eh?
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BeeDee53
All-Star Author Ontario

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Message Posted: Mar 7, 2013 8:25:42 PM

XL pipeline will supply enough Canadian crude to replace Venezuelan imports which come by tanker across the Gulf of Mexico. Aren't these tankers an environmental risk? Canada has no security issues, is a stable democracy, so what's the delay?
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DEG
Champion Author Las Vegas

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Message Posted: Mar 7, 2013 8:21:23 PM

Good to see Chavez gone.
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swrestler
Champion Author Grand Rapids

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Message Posted: Mar 7, 2013 8:19:28 PM

There Are Alot Of Idots Running That Country...
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paulydel
Champion Author Delaware

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Message Posted: Mar 7, 2013 8:12:24 PM

Its to bad that idiots run the country.
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bevmill
Champion Author Georgia

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Message Posted: Mar 7, 2013 8:10:09 PM

Not surprise.
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texashoudini
Champion Author Austin

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Message Posted: Mar 7, 2013 8:05:38 PM

No doubt about that socialist government.
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lippoe_sokan
Champion Author Provo

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Message Posted: Mar 7, 2013 7:59:04 PM

Gee, whodathunkit? Not a surprise at all.
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RickF350
Champion Author Washington

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Message Posted: Mar 7, 2013 7:59:03 PM

Not shocking.
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savannahoaks
Champion Author Rockford

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Message Posted: Mar 7, 2013 7:59:02 PM

Socialist running any industry will mismanage it.
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gaspumpin
Champion Author Indiana

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Message Posted: Mar 7, 2013 7:55:44 PM

Venezuela--still a pain in the butt.
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knot2swift
Champion Author Calgary

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Message Posted: Mar 7, 2013 7:52:42 PM

I expect little change.

If anything, with the guy from Iraq gone, the guy from Libya gone and now the guy from Venezuela gone, there's very few left to bad mouth the US during the next UN assembly. Delegates and leaders will have to sit there instead of walking out for a few drinks while some idiot rants for hours.
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TXGasPriceSpy
Champion Author Fort Worth

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Message Posted: Mar 7, 2013 7:51:18 PM

More of the same, soon!!!
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flyfast
Champion Author Kansas City

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Message Posted: Mar 7, 2013 7:49:46 PM

SEE WHO IS NEXT
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carinthuist
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Message Posted: Mar 7, 2013 7:43:58 PM

ok
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fourdezzzz
Champion Author Atlanta

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Message Posted: Mar 7, 2013 7:43:16 PM

Not surprised!
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