Washington Imposes Full Economic Embargo on Venezuela - Politics Forum.org | PoFo

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#15025269
President Donald Trump late Monday signed an executive order imposing a harsh, Cuba-style economic embargo on Venezuela as part of Washington’s broad push to force leader Nicolás Maduro out of power.
https://www.miamiherald.com/news/nation ... 61902.html

The executive order signed Monday freezes all assets of President Nicolás Maduro’s government and bars transactions with it without specific exemptions, the first such action against a Western government in decades. The only other countries subject to such sanctions are North Korea, Iran, Syria and Cuba, according to The Wall Street Journal.
https://thehill.com/policy/internationa ... to-embargo

Trump says U.S. blockade or quarantine of Venezuela under consideration
https://www.reuters.com/article/us-vene ... SKCN1UR5QF


#15027633
SaddamHuseinovic wrote:Any other president would invade them Venezuela has the biggest oil reserves, Iran uranium for 1000 Year of global demand.


Unusable oil reserves. That is the key point that people fail to grasp. They are not economically viable anymore.

If you want to make an argument then a proper one would be that US is actively destroying its oil competitors with US running out of local consumption capacity and needing to export now.

That argument I would at least be able to understand.
#15027961
JohnRawls wrote:If you want to make an argument then a proper one would be that US is actively destroying its oil competitors with US running out of local consumption capacity and needing to export now.


What, the US needs to export oil now? They have made themselves so energy conservative?

I don't know why, but if it's because they use less oil, I actually think this is good news, at least to the Earth maybe...
#15027966
Patrickov wrote:What, the US needs to export oil now? They have made themselves so energy conservative?

I don't know why, but if it's because they use less oil, I actually think this is good news, at least to the Earth maybe...


No. They use oil shale now. They are the largest oil producer in the world with an expansion rate of about 10-15% per year. US oil shale production:

Image

This also has the natural effect of having of a lot of cheap natural gas. Basically US economy has the cheapest electricity in the world right now with very cheap oil shale light crude oil. New techniques and oil infrastructure decreased the cost of oil extraction for US below Russia. If this continues US oil costs will be less than Saudi Arabias in 2-3 years more.

Known US and Canadian shale reserves are expected to last them more than 200 years.
#15027972
JohnRawls wrote:No. They use oil shale now. They are the largest oil producer in the world with an expansion rate of about 10-15% per year. US oil shale production:

This also has the natural effect of having of a lot of cheap natural gas. Basically US economy has the cheapest electricity in the world right now with very cheap oil shale light crude oil. New techniques and oil infrastructure decreased the cost of oil extraction for US below Russia. If this continues US oil costs will be less than Saudi Arabias in 2-3 years more.


I actually heard about that shale thing.

So that's why the Saudi Crown Prince is so desperate to try transforming his country into some kind of Monaco. If not, he might face the same fate of some of his ancestors (who lost control of the peninsula from time to time)
#15027978
Patrickov wrote:I actually heard about that shale thing.

So that's why the Saudi Crown Prince is so desperate to try transforming his country into some kind of Monaco. If not, he might face the same fate of some of his ancestors (who lost control of the peninsula from time to time)


May be, may be not. US oil shale production is almost 100% funded by private sector with majority stake being taken over by medium to small sized business. This is kinda the benefit of having not so tightly regulated business environment, wealthy population and distribution being done by fair legal system. Competition and all that.

Such revolution is also possible in many countries of the world oil production wise. The problem is that no other place has the same environment as the US. Europe is the closest but we are very environmentalist. So theoretically we can be the 2nd place but environmentalists will go crazy. Also we are more regulated then the US a bit and we redestribute via regulation instead of a very fair legal system. Its hard to explain. The reason this thing kicked of in the US is because everyone is having a cut: businesses, local communities, workers etc. In Europe we need to fix our regulations and legal code a lot.

If you rate the US by this metric they would get 5 for regulation, 5 for amount of wealth needed and 5 for legal code.
Europe on the other hand is something like 4 for regulation, 5 for amount of wealth needed and 3 for legal code.

Our legal code is fair but it is not designed to redestribute wealth fairly. We do it by other means which is a downside for this case.

Outside of Europe and America it is very unlikely because the traditional narrative for oil extractions is large enterprises or large government run enterprises. But those large enterprises just can't compete against cheap light crude since small/medium sized businesses are doing it that much efficiently. And that is perhaps the whole reason why extraction costs went down so significantly. So companies like BP, ARAMCO, TOTAL, etc will have a hard time soon if this keeps out and also happens in Europe. (Will depend on our willingness to do it and fight the environmentalists)

Outside of Europe or US, may be Australia there is no real place where this can realistically happen without much changes to the local government systems.
#15029919
I am of the belief that the United States should stop wasting its time and energy on Iran and commit to an intervention in Venezuela. As I see it the military industrial complex might have one more bullet (ie, large scale operation) before the monetary market reset. And there's never going to be a better time to take Caracas and secure all of the nations in between with trade and infrastructure agreements.
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