I just wanted to point out that despite the work Ospino and thousands of other revolutionary oil workers did to alleviate the terrible destruction of the PDVSA under the "Bosses strike" there, that oil production never got back to it's plus-3 million barrels-a-day production levels. I believe this was in part the result of overly relying on oil sales of Venezuelan oil to finance everything from defense to the increase in social-welfare programs, all of which we should be proud of.
Venezuelan oil is the most capital intensive oil production in the world as this oil has the worst quality of any oil produced in the world, including even Alberta's oil sands. It always garnered the lowest price due to this fact. And that is true to this day. The problem is that the first rule of oil/gas production is make sure that there is enough re-investment to continue oil production. PDVSA fell short of that and lacked enough reinvestment funds to maintain high levels of the tar-sand oil they are famous (or infamous!) for producing in the Orinoco oil belt. This includes the most important investments: training Masters/Phd level oil engineers so reliance on foreign engineering consultants can end. They never really achieved this to the level necessary. Of course would be trained to these important technical levels but would then leave the country for greener pastures elsewhere. David -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#41589): https://groups.io/g/marxmail/message/41589 Mute This Topic: https://groups.io/mt/119027668/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
