Socialist Cuban colony of Venezuela might privatize oil production

Look, here come our capitalist saviors!

From our Bureau of Great Socialist Disasters


Having ruined their country’s oil industry by nationalizing it, Venenozuela’s socialist leaders are now seriously considering its re-privatization with the aid of foreign partners.

Does this mean the end of 21st century Bolivarian socialism?

Far from it. This move is probably directed from Havana, where the Castronoids have become experts in partnering up with capitalists to ensure the survival of their slave labor economy.

And King Raul’s court is not at all interested in socialist ideology. Their sole interest is remaining in power and that requires the restoration of the oil flow from its colony of Venenozuela.

Of course, the socialist slave masters will never admit that their “socialist” ideology will only work in a parasitic relationship with profit-driven capitalists.

So it goes…

From the PanAm Post

After socialism practically destroyed Venezuela’s oil industry, Nicolas Maduro seems to be analyzing how to privatize the sector and allow joint-ventures to directly exploit the oil fields.

BBC Mundo report revealed that sources in the oil sector in Venezuela are betting that Maduro “will end up promoting a change in the Hydrocarbon Law that will allow foreign companies that collaborate with PDVSA to exploit the oil fields.”

It is not the first time that this news has come up about the possibility of somehow privatizing the oil fields in Venezuela. On 6th December, the Reuters news agency revealed that both the regime and the opposition “are considering handing over field operations to PDVSA partners”.

So far there is no official information on this matter. Meanwhile, Jose Ignacio Hernandez, Special Prosecutor of the interim government of Juan Guaido, described this action as a possible “de facto privatization, a sign of the collapse of the state.”

The Reuters report notes that the amendment to the law is being discussed with joint ventures such as Chevron, Russia’s Rosneft, and China’s state-owned CNPC.

The talks appear to be taking place within the framework of the Boston Group, where officials close to Maduro, opponents, and economists critical of the regime meet to discuss economics and politics.

The initiative also arises at a time international sanctions have “strangled” the tyranny and forced it to make some areas of the economy, such as price and exchange control, more flexible.

The BBC Mundo report points out that allowing joint ventures to invest in Venezuela “would mean breaking with the statist energy policy that the Bolivarian Revolution has maintained in Venezuela since the time of the late President Hugo Chavez.”

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