The most likely cause is that because of Chavez' policies hitting foreign oil companies, things aren't necessarily being fixed properly when they break down. That seems more likely (and ultimately fixable) than the fields starting to play out well before their predicted time.
-- Dave K, Speakeasy Moderator
click here to email semods4@yahoo.com
The opinions expressed above are my own,
and do not necessarily reflect those of CNET!
 | Thank you for being a valued part of the CNET community. As of December 1, 2020, the forums are in read-only format. In early 2021, CNET Forums will no longer be available. We are grateful for the participation and advice you have provided to one another over the years. Thanks, CNET Support |
General discussion
A Sudden Plunge In Venezuelan Production?
Potentially a bigger problem than the Bolivia tif.
Is Venezuela's oil production rapidly waning? One source reports that the world's fifth largest oil producer is showing signs of a rapid decrease in production, one of the key tenets of the peak oil theory.
Venezuela is buying oil from Russia in order to avoid defaulting on deliveries to clients. The situation raises serious questions about the country's oil production and the future of PDVSA as a major oil producer, and increases the risk to the U.S. oil supply should the country's oil production suddenly plummet.
Discussion is locked
5 Posts
- Collapse
- Collapse -
- Collapse -
Citgo/Texaco will be shutting its doors anytime soon since I understand that Chavez/Venezuela is the sole owner of that company now.
TONI
- Collapse -
socialist dictatorships are really lousy businessmen? Note the part about their gifts of oil to Cuba, etc.
- Collapse -
since they didn't build or maintain the equipment, they are letting it go to seed.
Diana
CNET Forums
Operating Systems
Software
Electronics & Gadgets
Hardware
Tablets & Mobile Devices
General Help
Roadshow Autos
Chowhound
Comic Vine
GameFAQs
GameSpot
Giant Bomb
TechRepublic