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re: Kobeissi Letter analysis of Venezuelan oil deal: hot damn
Posted on 8/29/26 at 5:47 am to HailHailtoMichigan!
Posted on 8/29/26 at 5:47 am to HailHailtoMichigan!
quote:
In other words, the US is set to control ~7.1% of all proven oil reserves in the world
When put this way it is not very impressive. It would have sounded a lot better as: The US is set to increase its share of proven reserves by 141%.
0
Posted on 8/29/26 at 5:50 am to BoarEd
quote:
OPEC is finished. And once that happens the US can divest itself from the Middle East, which is the plan.
This does not make sense. OPEC works because it is a cartel that can slow production to gain favorable pricing. While it’s good news that the cartel breaks up, it is still possible for another country to block, or confiscate, Middle East oil. And this would have the same effect as the cartel.
Like it or not, the US has to keep the Middle East peace. This won’t change that.
Posted on 8/29/26 at 6:05 am to MightyJoeYoung
quote:
Saudi would likely make a deal with China/Brics if the US leaves the region totally and then the Yuan would become the partial world reserve currency.
No country or business in their right mind would accept the Yuan versus the US.
Have you ever traded goods internationally, try telling the company you are buying from that you are paying them in Yuan
Posted on 8/29/26 at 6:50 am to HailHailtoMichigan!
Regime change pays off occasionally. Wonder who’s next? Canada? Mexico?
Posted on 8/29/26 at 6:53 am to Aubie Spr96
They didnt change the regime in Venezuela.
Posted on 8/29/26 at 7:05 am to Aubie Spr96
they did do a regime change and put their puppet in there. she isn't much different than zelensky in ukraine. i read where last week trump took the venezuelan gold that england was holding. now the oil. trump is stripping that country of their assets. this is exactly what he had planned for iran but it didn't work out.
Posted on 8/29/26 at 7:08 am to texas tortilla
I wouldn't say that. Delcy is basically running the government with a gun to her head. There is some chatter they have draft criminal charges they show her to get in line. It will be interesting to see how long a bunch of hardline Chavistas accept this situation. At least the administration didn't try to force the globalist puppet down their throats.
This post was edited on 8/29/26 at 7:16 am
Posted on 8/29/26 at 7:10 am to HailHailtoMichigan!
This is why we meddle in elections or they will elect a commie and nationalize our capital again.
The history is significant:
* Venezuela nationalized Exxon’s Venezuelan assets, particularly during Hugo Chávez’s 2007 takeover of oil projects.
* Exxon subsequently pursued international arbitration over the seized assets.
* An arbitration panel ultimately awarded Exxon about $1.6 billion, which Venezuela did not fully pay.
* Exxon and ConocoPhillips have continued to seek safeguards and compensation before committing substantial new capital.
* As recently as July 2026, reporting indicated Exxon was still hesitant to return because it wanted protection for its investment and resolution of the old claims.
The history is significant:
* Venezuela nationalized Exxon’s Venezuelan assets, particularly during Hugo Chávez’s 2007 takeover of oil projects.
* Exxon subsequently pursued international arbitration over the seized assets.
* An arbitration panel ultimately awarded Exxon about $1.6 billion, which Venezuela did not fully pay.
* Exxon and ConocoPhillips have continued to seek safeguards and compensation before committing substantial new capital.
* As recently as July 2026, reporting indicated Exxon was still hesitant to return because it wanted protection for its investment and resolution of the old claims.
Posted on 8/29/26 at 7:13 am to dstone12
quote:
* As recently as July 2026, reporting indicated Exxon was still hesitant to return because it wanted protection for its investment and resolution of the old claims.
So does the US need to put a military base in Venezuela now, to keep that area stable and secure? Like the British use to do when they had colonies around the world.
Posted on 8/29/26 at 7:15 am to BoarEd
quote:
And once that happens the US can divest itself from the Middle East, which is the plan.
And pray tell us the segway to divesting ourselves of Zionist control of the Federal government.
I say we let Israel do whatever they want in the M.E., we will sell them all the weapons and systens they want and their sons and daughters can provide the cannon fodder.
Posted on 8/29/26 at 7:40 am to Bunk Moreland
Chevron never left. The Venezuelan govt is paying them and should be completed by 2027. In the meantime they are also cash flowing about half a billion a year in Venezuela right now.
Betcha the Venezuelan govt will pay back Exxon to get them back to work.
Delcy does not "have a gun to her head". She was the CIA inside person who helped pull off the raid and had been for a long time. She also knew all the hardliners and was easy to get rid of them once Maduro left. The regime has changed.
Venezuelan oil production is 1.23 mil barrels per day now, a 30% increase since the beginning of the year. Top production nearly 20 years ago was 3.5 million so lots of room for growth.
Its great for us here in Trinidad, we share some proven gas fields but could not/would not proceed due to our support of the US policies.
Betcha the Venezuelan govt will pay back Exxon to get them back to work.
Delcy does not "have a gun to her head". She was the CIA inside person who helped pull off the raid and had been for a long time. She also knew all the hardliners and was easy to get rid of them once Maduro left. The regime has changed.
Venezuelan oil production is 1.23 mil barrels per day now, a 30% increase since the beginning of the year. Top production nearly 20 years ago was 3.5 million so lots of room for growth.
Its great for us here in Trinidad, we share some proven gas fields but could not/would not proceed due to our support of the US policies.
Posted on 8/29/26 at 7:53 am to leeman101
quote:
So does the US need to put a military base in Venezuela now, to keep that area stable and secure? Like the British use to do when they had colonies around the world.
Hopefully. I’ve come around to support the idea of an American empire.
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