Tag: oil

Thoughts on Saudi oil production

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Even with crude oil prices crashing down below $60 a barrel from a high of over $115 earlier in the year the Saudis simply refuse to allow OPEC production to drop any significant amount. After a few months of such prices Iran is now begging for mercy from the Saudis and are again asking for a drop in OPEC oil production. Some would believe Saudi refusal is an attempt to harm U.S. shale oil producers, though shale production is easily scaled and that would probably just be a bonus in addition to harming Saudi Arabia’s real strategic threat, Iran. Saudi Arabia and Iran are supporting opposite sides, or having proxy wars in Bahrain, Lebanon, Iraq, Syria, and Yemen. They are fighting each other for influence in the Arab world and also hate the religion of their opponents (Shi’ite vs. Sunni). Iran has the desire for a Persian Empire while Saudi Arabia has its own ideas of what should happen in the Middle East. In light of Iran’s economic distress and Saudi Arabia’s ability to deal with low oil prices for years to come, this is one of the best ways to slow down (not stop) Iran’s attempt at producing a nuclear weapon. I suppose we’ll see who’s victorious soon enough.

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Watch and listen to what the Saudis think of Iran and its ambitions for empire and influence.

It’s not like the U.S. or E.U. is going to stop Iran, it might be left up to Saudi Arabia and Israel. It’s pretty common for Iranians and their supporters to laugh at U.S. leadership. The talks in Vienna certainly won’t be what stops Iran from making nuclear weapons, especially if John Kerry is the one talking.

The failure of socialism in Venezuela, continued…

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Venezuela seems to be getting worse and worse, Nicolas Maduro and his socialist government just keep failing. Among many of the recent problems to surface are a lack of doctors to provide state-mandated healthcare. To be fair though, even if the doctors and nurses stayed they wouldn’t have any medical supplies or basic items to treat patients anyway. Constitutionally and government enforced healthcare is a good thing and always means that you’ll be cared for right? The Venezuelan government isn’t even allowing people to pass through the border at night, something about smuggling and a shortage of basic staples. No leaving the country between 10 PM to 5AM for citizens, just stick it out and the 60% inflation rates will go down eventually.

Maybe one day Venezuela will dump socialism and expand their economy and exports past selling oil. Perhaps soon they’ll stop selling gasoline domestically at six cents per gallon. Speaking of prices, what’s a barrel of oil go for now, something under $58 by now. I wonder how much longer Maduro and his group of socialists will blame the U.S. for his problems? Venezuela’s problems started long before the U.S. considered sanctions against Venezuela. I wonder how much lower oil prices will go and how much longer Maduro’s government can take this?

El Universal-Flights of doctors leaves Venezuelan hospitals without medical specialists

El Universal-Venezuela restrains on all its borders at night

Yahoo! News-“Stupid” U.S. sanctions won’t undo my government:Maduro

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The failure of socialism in Venezuela

Venezuela has been going downhill for a while now. With excessive inflation, an inability to supply basic goods and services, a lack of foreign currency, the looming threat of a default, extreme violence against any who dare question the government, and criminalization of any civilian-owned weapons perhaps it’s only a matter of time before Venezuela collapses. With massive oil reserves Venezuela is now importing oil. I guess socialism isn’t working out so well. I wonder how much longer Maduro will stay in power?


USA Today-Venezuela, with world’s largest reserves, imports oil