Thursday, June 9, 2016

Venezuela

Venezuela can best be described a dumpster fire. The president is a nut job who has driven the country to the point of complete collapse. They are operating under rolling blackouts, there is no food or water, and criminals and vigilante mobs are slaughtering everyone. Inflation is in thr hundreds of percent, and they are about to default on loans.
That creates problems with industry. The big global petro companies have already abandoned the country. They cut off the distillates required to refine Venezuelan heavy crude. Despite this, Venezuela still pumps almost three million barrels per day. When the country inevitably collapses into either anarchy or martial law, the oil will stop flowing. It can very easily drop production to nothing literally overnight.

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