I havent said much about this in recent weeks but, that doesnt mean it hasnt been on my mind. The article below depicts another angle of how bad it is in Venezuela these days. Venezuela is one of the worlds most oil rich countries. It is the 4th largest supplier (or was) of oil to the U.S. Yet under the mismanagement of its oil industry by the Venezuelan government and excessive taxation of total industry revenue (not profit) of appx 30% to help pay for social programs that are bankrupting the country further, Venezuela cant produce enough oil to support its own demands. The article below this initial article amplifies the fact that it is even worse than it seems. World demand for oil is down. Europe and China are buying less, and the U.S. is producing 65% more oil than it was for itself. The implication is that Venezuela should be exporting less, thus have more to provide for its own needs. Yet, this nearly bankrupt country is importing oil instead. Oil is just an additional casualty to the already vastly diminished availability of basic goods necessary to live in a civil society. Soap, laundry detergent, certain food basic food stuffs and personal hygiene products like toilet paper are almost impossible to find. Sweeping irregular power outages happen regularly throughout the week and violent crime continues to go unchecked. usatoday/story/money/2014/11/02/venezuela/18243787/
Posted on: Mon, 03 Nov 2014 10:52:06 +0000
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