Monday, February 15, 2016

Is Venezuela's Military Taking Control Of The Country's Oil Resources?

Venezuela’s president Nicolás Maduro gestures before his state of the nation address to the National Assembly in Caracas on Friday when declared a national economic emergency. Photograph: Carlos Garcia Rawlins/Reuters

Oil Price: Is Venezuela Trying To Hide Oil Assets With This Bizarre Move?

Strange and unsettling developments emerging late last week — from one of the world’s key oil-producing countries.

Venezuela.

The Venezuelan government Friday issued a decree that, for the first time, allows the country’s military to take direct involvement in natural resources projects.

The government will do this by creating a new military company. Which is authorized to participate in both oil field services, as well as in Venezuela’s mining sector. With the new firm going by the name of Cia. Anonima Militar de Industrias Mineras, Petroliferas y de Gas — or simply, Camimpeg.

Read more ....

WNU Editor: This is how you reward your political allies .... which for Venezuelan President Maduro is the military. Unfortunately for Venezuela, there is still the problem of low oil prices and the need for OPEC to agree to production cuts .... Venezuela talking to Russia about potential oil-price support: Moscow (Reuters).

5 comments:

James said...

I guess the deal with the Chinese money, ahem loans, ahem investments, didn't work out as ell as expected.

Unknown said...

Another socialist / communist experiment devolves yet again into an oligarchy and junta at that.

All the fellow travellers in U.S., Canada and Europe must be so proud.

What is the line? "It has not been tried right yet"

Si-vis-pasen- said...

Aizino: you mean it has not been tried right in the U.S yet .Hoo don't worry they are trying
And now they're going overdrive the liveral progressive machine is full speed ahead.didn't got to see how much fun they are having with the dead of the supreme Court judge in the social media sites it feels like the doors of hell are now open and evil is pouring in .

Si-vis-pasen- said...

Aizino: you mean it has not been tried right in the U.S yet .Hoo don't worry they are trying
And now they're going overdrive the liveral progressive machine is full speed ahead.didn't got to see how much fun they are having with the dead of the supreme Court judge in the social media sites it feels like the doors of hell are now open and evil is pouring in .

Unknown said...

Every system devolves into an oligarchy. Some faster than others. Some have a a little more freedom or are a velvet fist instead of an iron fist.

What would Hari say?