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| Caribbean-Latin America |
| Venezuela’s “Oil Fire Sale” To Benefit Russia, China |
| 2017-09-17 |
| A much-abbreviated follow-on article related to to Snowy's comment on Friday. [OilPrice.com] Venezuela is now on the brink of total collapse. As you’ve seen before here in Oil & Energy Investor, national oil company PDVSA looms large in this unfolding crisis. The focus is the company’s ability to pay bond interest due in two months. Doing so is crucial. But as of this morning, that prospect is dwindling. Along with it goes the ability of the central government to administer an entire population and avoid the country descending into outright civil war. |
| Posted by:Pappy |
| #3 It's Pappy wot dunnit, dear Snowy Thing. |
| Posted by: trailing wife 2017-09-17 22:55 |
| #2 Thanks, TW, oops, Pappy... (or both. I'm not sure my monitor is showing the hightligh color properly.) The Chinese have about a thirty billion a month trade deficit with us, and part of the reason is because they're able to resell Venezuelan oil that cost them $ 10.00/bbl for 45.00/bbl up here. Unless they finished their refineries and they're using it for feedstock to make all the plastic stuff they sell us. Be a noninterventionist if you want, but in deal-making terms, we're the patsies at the moment. |
| Posted by: Thing From Snowy Mountain 2017-09-17 17:43 |
| #1 Past time to start backing away from the hostile aid suckers. |
| Posted by: Skidmark 2017-09-17 12:32 |