Venezuela’s state-run PDVSA oil company is bloated, “falling apart.” “PDVSA’s payroll has more than doubled to 115,000 employees since Chávez took office in 1999, and debt has risen 10-fold since 2006 to $34 billion. Those increases have seemingly accomplished little: Venezuela’s oil production has dropped more than 25% since 1998 to its current 2.4 million barrels a day, according to OPEC.” Another socialist “success” story.
This post was last modified on January 26, 2021
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Funny how the leftards don't have a problem with Venezuela being an oil-rich superpower like Saudi Arabia.
Refer to the above comment about Venezuela being a socialist government. Why would they have a problem?
Ah yes. Yet another business built on capitalism, and brought to it's knees by socialism. Makes you smile deep down inside, doesn't it? :roll:
Looks like Venezuela's going down the chute even on the one money making export they have. This country's only hope is (hopefully) Hugo's untimely demise.
I'll tell you why Chavez is failing with state controled oil. When the proffits come in & the money generated gooes to political problems. It does'nt go to maintaining the oil industry to allow it to produce more oil. Killing the goose that lays the golden eggs.
We have a friend who worked for CITGO in Texas who just said screw it and went to work for someone else. Hugo's nuttiness was getting to be too much.