Venezuela expects nearly US$76 billion in oil investment over five years, acting president says
https://www.straitstimes.com/world/venezuela-expects-nearly-us76-billion-in-oil-investment-over-five-years-acting-president-saysOpen linkView original on lemmy.world
16 replies
Ahh yes. I'm sure that the last president vanishing over an oil deal had nothing to do with this decision to sign an agreement.
Venezuela would always be thrilled to sign a deal for foreign investment in their country
The reason no one wanted to do so is because the last time, Venezuela simply nationalized all the assets and investments
There is zero downside for Venezuela. At any time they can simply nationalize it all
Join the club of being owed money. Edward J. Friel Co.: a Philadelphia cabinetmaker never paid more than $83,000 for work completed in 1984 at Trump's Atlantic City casino. The family business eventually closed. (wtvr) The Paint Spot (Miami): owed about $34,000 for the Doral renovation. A judge ruled for the shop and later ordered Trump's company to pay about $300,000 in legal fees. Andrew Tesoro: the architect of the Westchester golf clubhouse, offered just $25,000 on a much larger bill. (alternet) Atlantic Plate Glass: lost $450,000 in its final settlement over work on the Taj Mahal. (enewspf) Michael Diehl: a piano dealer who was only partly paid for Taj Mahal pianos.
She knows it. She is just using all this to stay in power.
I get it... I was just making a comment that he stiffs people on work and deals. Thanks for the clarification though.
You're misunderstanding this deal
Venezuela is getting tens if billions in investments, and in exchange they build out their oil and gas sector to eventually allow the joint selling of the products
Investors get nothing, and expect nothing, for 10+ years
The deal is a bad idea because Venezuela is a pariah state for exactly a deal like this. Venezuela reneged and nationalized all the assets once everything was built up
...for the mere price of getting 76billions worth of oil for free every quarter
We also expected her, Maduro's VP to leave government relatively soon after coordinating free fair elections with a new ruling entity and Supreme Court magistrates.
But here we are with the same problems as before doing the same business that has feed generations in Venezuela, and that is corruption, not oil trade.
Trump won. Fuck her.
Won what exactly?
Her presidency might become longer than his.
Are you implying that she'll kick out the oil corporations once Trump is gone?
This was the fundamental goal of the Bolivarian Revolution.
Probably the opposite at least in the short term.
She and the oil companies might start to sell more to China (or Europe while the Gulf states sell more oil to China, as the Panama Canal might not be as great given the sizes of the tankers, the US getting more petty, and/or climate change might make the canals less operable); and/or with increased electrification, oil prices might go down.
They can theoretically sell oil to China only through the Pentagon, which now controls all of Venezuela's oil.
She gave away the farm. Why aren't they dragging her out into the street? WTF?
Okay, so Venezuela is (again) a client state of the US.
They might not be dragging her through the streets because of the same reason they didn't drag Maduro through the streets: the army and police.
Presumably, Cuba had the USSR for over 30 years. Since Chavez, Venezuela had a weak Russia and possibly a competitor as an oil producer.
But if all the talk about electrification of vehicles is true, it will matter less on who has oil. Ditto if the consequences of global warming are both severe and will happen in the next several years.
The US exploits weaknesses. Venezuela under Maduro was weak; but if the US continues to fuck around, it too will grow weak.