[Marxism] Chavez/Venezuela in economic trouble?

[David Walters <davidw@xxxxxxxxxxxx>]

I've noted this before. Most international oil observers have *always* 
contradicted PDVSA figures, arguing that since 2003, Venezuela has 
*never* topped 3 million bbls/day. Or put it another way, I've never 
seen big oil analysts ever *agree* with PDVSA production figures. On a 
certain level, it doesn't matter. Oil flows, money comes in for various 
programs, investment in oil production does occur, etc etc. It became 
even more irrelevant as oil went up and over $130/bbls for weeks on end.

Where it is important is future PDVSA investment. Money is always needed 
to keep the oil flowing. Some of the big oil observers complain that 
PDVSA is being *starved* and that production figures will, eventually, 
reflect this.

I'm not an analyst in anyway of this but I read what they say in their 
journals and while controversy abounds on many energy issues, Venezuela 
isn't one of them. I'm worried.

David

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