Lord, I hope you fellers do not portend to weigh in on this heavy matter!
Don't allow Trump to nail another accomplishment!!!!
President Donald Trump announced an agreement on August 28, 2026, giving the United States a 55% majority stake in 17 oil fields across Venezuela that hold an estimated 65 billion barrels of crude oil.
@AverageJoe1 saidSo he stole some oil.
Lord, I hope you fellers do not portend to weigh in on this heavy matter!
Don't allow Trump to nail another accomplishment!!!!
President Donald Trump announced an agreement on August 28, 2026, giving the United States a 55% majority stake in 17 oil fields across Venezuela that hold an estimated 65 billion barrels of crude oil.
Big deal, just another day, another crime.
@Earl-of-Trumps saidAnd the reserves depleted by Biden, everyone forgets that political move.
And the first thing Trump wants to do with it is replace the oil reserves that he has used to keep the cost of petrol down
@AverageJoe1 saidMaybe in 5 years they will be replenished.
And the reserves depleted by Biden, everyone forgets that political move.
@AverageJoe1 saidYou do know that this will push Venezuela into voting left-wing and nationalising the oil, and booting out that oil company (and the US), don’t you?
Lord, I hope you fellers do not portend to weigh in on this heavy matter!
Don't allow Trump to nail another accomplishment!!!!
President Donald Trump announced an agreement on August 28, 2026, giving the United States a 55% majority stake in 17 oil fields across Venezuela that hold an estimated 65 billion barrels of crude oil.
I mean… learn from history, maybe?
@shavixmir saidBut the landscape is different now, you see. It is laughable that you say that they would kick corporations out with Trump being in charge.. You have seen him kick butt before so maybe You should learn from history..
You do know that this will push Venezuela into voting left-wing and nationalising the oil, and booting out that oil company (and the US), don’t you?
I mean… learn from history, maybe?
And it puzzles me how you liberals are always complaining about Trump, who’s every move will in the end help everyone in the world. For instance is his move on oil, will benefit all oil markets. Including the Netherlands, all the most of you just use bicycles.
I have to assume that you know full-well that this Iran thing will be wrapped up in one way or another regarding oil. That will happen, make your investments accordingly..
Now, having said that, the regime will never change, and we will be fighting those people until we go in there and wipe them out. But before all of that, the Strait Hormuz will be flowing smoothly.
@shavixmir saidVenezuela tried that nationalizing and left wing rubbish already and it failed miserably. They aint going down that road again. Prior to the nationalizing firms back in the 80s and 90s, Venezuela was a model oil country with US firms in charge and was the richest in South America. Nationalization started the fall. Chavez in 200o with full scale socialism sealed their fate. Venezuela is now a complete failure. The only hope is for the US to take charge and bring the economy up to standard. Google it and educate yourself. Here, let me help you...
You do know that this will push Venezuela into voting left-wing and nationalising the oil, and booting out that oil company (and the US), don’t you?
I mean… learn from history, maybe?
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Brief History of the Venezuela Oil Industry
Early Concessions and U.S. Involvement
• 1920s–1970s: American companies like Standard Oil (now ExxonMobil) and Gulf Oil bought extensive drilling rights and concessions directly from Venezuelan governments. They built the infrastructure that made Venezuela one of the world's top oil exporters. [1, 2]
• 1943–1948: Venezuela shifted terms to a 50/50 profit-sharing structure, but foreign firms still retained their core operational concessions. [1, 2, 3]
• 1976 Nationalization: President Carlos Andrés Pérez nationalized the industry and created the state-owned company PDVSA. However, this transition was an amicable buyout rather than a hostile seizure, and U.S. firms continued working as contractors or technical partners.
The 1990s "Apertura"
• 1990s: Facing economic strain, Venezuela launched the Apertura (opening) policy.
• U.S. giants like ExxonMobil, ConocoPhillips, and Chevron returned or expanded their footprint by buying into new multi-billion-dollar joint-venture rights to drill heavy crude in the Orinoco Belt.
What Chávez Changed
• 1999–2007: When Hugo Chávez became president in 1999, he initially kept the arrangements, but later pushed for higher royalties and mandatory state-majority control through PDVSA.
2007 Expropriations: Chávez effectively seized the projects of companies that refused the new terms, leading to long-standing international arbitration and lawsuits from firms like ExxonMobil and ConocoPhillips. Only Chevron agreed to navigate the new state-controlled constraints and remained.
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A Comparison - Chinese, Russian and US firms operating in Venezuela
Historically and operationally, U.S. firms were vastly more efficient than Chinese and Russian oil firms in Venezuela.
While companies like Chevron maintained highly efficient, low-cost operations despite immense political instability, Chinese and Russian state-backed giants treated their Venezuelan projects primarily as geopolitical lifelines and debt-collection tools. Their operational efficiency suffered heavily from bureaucracy, mismanagement, and a lack of specialized technology.
Why Chinese and Russian Firms Underperformed
• The "Oil-for-Loan" Trap: China (via CNPC and Sinopec) and Russia (via Rosneft) viewed their operations as an accounting mechanism. Because Venezuela repaid its sovereign debts with crude oil rather than cash, these firms had very little incentive to invest additional capital into modernizing the fields or streamlining operations.
• Sanctions and Logistics: U.S. and Western sanctions forced Chinese and Russian operators to hide their activities, rely on clandestine shipping, and sell oil at steep discounts. This drastically diminished their operational margins and left little money to reinvest in infrastructure.
The U.S. Takeover:
The structural inefficiency and declining output of the fields run by Beijing and Moscow ultimately led to their displacement. A sweeping oil production agreement enabled U.S.-backed private companies (like North American Blue Energy Partners) to take over 14 major oilfields previously mismanaged by Chinese and Russian interests, transitioning them back to efficient, U.S.-style operational management.
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@Rajk999 saidTrump is being creative? New day now
Venezuela tried that nationalizing and left wing rubbish already and it failed miserably. They aint going down that road again. Prior to the nationalizing firms back in the 80s and 90s, Venezuela was a model oil country with US firms in charge and was the richest in South America. Nationalization started the fall. Chavez in 200o with full scale socialism sealed their fate ...[text shortened]... g them back to efficient, U.S.-style operational management.
*************************************
Apply all this to today’s Landscape, factoring in the effect of Trump. He fixes, changes, improves situations. For instance, Venezuela is a better situation now due to him.
Don’t tell us, please that you think that he should have left Venezuela and Madero alone?!?!!?
@AverageJoe1 saidYou obviously dont read what I write.
Trump is being creative? New day now
Apply all this to today’s Landscape, factoring in the effect of Trump. He fixes, changes, improves situations. For instance, Venezuela is a better situation now due to him.
Don’t tell us, please that you think that he should have left Venezuela and Madero alone?!?!!?
@AverageJoe1 saidSeen trump kick butt?
But the landscape is different now, you see. It is laughable that you say that they would kick corporations out with Trump being in charge.. You have seen him kick butt before so maybe You should learn from history..
And it puzzles me how you liberals are always complaining about Trump, who’s every move will in the end help everyone in the world. For instance is h ...[text shortened]... go in there and wipe them out. But before all of that, the Strait Hormuz will be flowing smoothly.
You mean lowering petrol prices and attacking Iran?
Or do you mean cleaning a fvcking swinming pool?
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@shavixmir saidDon’t be boring please.
Seen trump kick butt?
You mean lowering petrol prices and attacking Iran?
Or do you mean cleaning a fvcking swinming pool?
You speaks of the swimming pool, involvement of Trump as a fact. There are many explanations of the swimming pool. By the way, I have never read one of them. I don’t care. But that’s just me. Next you will tell me to read about Epstein / January 6. You little fellas need to move on. The swimming pool? Get real. This is a debate forum.
You also seem to find fault with Trump, regarding the petrol prices? At the same time saying he should not have attacked Iran. He should’ve attacked Iran, who right now would be attacking many countries in Europe with nukes and maybe us next (Death to America?!)
That is one of the reasons, which you and marauder disagree with. That’s why we do a debate. He had to get Iran, they said they were going to kill us. If my neighbor says she is going to kill me, I have a right to to call the police and have her hauled off. Trump has in effect hauled off Iran in pieces.
No, I didn’t read your history book above. With Trump at the helm, I would say none of it would have any bearing on Today. Today, man.
Do you know that Shamir does not believe in capital punishment , when someone has slaughtered his family?? that is what I’m dealing with on the forum, including you. Geez.
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@AverageJoe1
Oops, I am sorry Sheff. I thought I was writing to someone else since you all sound the same. You are aware that Iran is costing us money which is showing up in the price of petrol. If we did not do Iran. the cost would be much lat
More in the future, dealing with this. We would have to invent some weapons that will take out Iran before they waste us away.
@AverageJoe1 saidOh, do you mean like murdering children at a wedding then?
Don’t be boring please.
You speaks of the swimming pool, involvement of Trump as a fact. There are many explanations of the swimming pool. By the way, I have never read one of them. I don’t care. But that’s just me. Next you will tell me to read about Epstein / January 6. You little fellas need to move on. The swimming pool? Get real. This is a debate forum.
You als ...[text shortened]... eone has slaughtered his family?? that is what I’m dealing with on the forum, including you. Geez.