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To Survive, Venezuela’s Leader Gives Up Decades of Control Over Oil
Faced with a severe economic crisis, the country’s leader, Nicolás Maduro, is letting foreign firms take over daily operations of its oil fields. It’s a break with core tenets of his socialist revolution.
CARACAS, Venezuela — After decades of dominating its oil industry, the Venezuelan government is quietly surrendering control to foreign companies in a desperate bid to keep the economy afloat and hold on to power.
The opening is a startling reversal for Venezuela, breaking decades of state command over its crude reserves, the world’s biggest.
The government’s power and legitimacy has always rested on its ability to control its oil fields — the backbone of the country’s economy — and use their profits for the benefit of its people.
https://www.google.com/amp/s/www.nytimes.com/2020/02/08/world/americas/venezuela-oil-maduro.amp.html
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Mark my words. 6 months from now Venezuela will be back to how it was 10 years ago.
They abandoned socialism, and by that I mean government controlling the oil.
The Venezuelan government was, and is shit, but that isn't why the country was on the verge of collapse.
It was on the verge of collapse because the US government had engaged in a maximum pressure campaign to force Venezuela to give up control of it's oil.
Now that this has been achieved, socialism will no longer be a problem.
Why? Because socialism was never the problem.
Corruption is a problem. Centralized power is a problem.
But now that the oil is in the control of foreign corporations, we won't be hearing about the evils of Venezuela's socialism anymore.
Discuss.......
Faced with a severe economic crisis, the country’s leader, Nicolás Maduro, is letting foreign firms take over daily operations of its oil fields. It’s a break with core tenets of his socialist revolution.
CARACAS, Venezuela — After decades of dominating its oil industry, the Venezuelan government is quietly surrendering control to foreign companies in a desperate bid to keep the economy afloat and hold on to power.
The opening is a startling reversal for Venezuela, breaking decades of state command over its crude reserves, the world’s biggest.
The government’s power and legitimacy has always rested on its ability to control its oil fields — the backbone of the country’s economy — and use their profits for the benefit of its people.
https://www.google.com/amp/s/www.nytimes.com/2020/02/08/world/americas/venezuela-oil-maduro.amp.html
___________________________________
Mark my words. 6 months from now Venezuela will be back to how it was 10 years ago.
They abandoned socialism, and by that I mean government controlling the oil.
The Venezuelan government was, and is shit, but that isn't why the country was on the verge of collapse.
It was on the verge of collapse because the US government had engaged in a maximum pressure campaign to force Venezuela to give up control of it's oil.
Now that this has been achieved, socialism will no longer be a problem.
Why? Because socialism was never the problem.
Corruption is a problem. Centralized power is a problem.
But now that the oil is in the control of foreign corporations, we won't be hearing about the evils of Venezuela's socialism anymore.
Discuss.......
