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Oil prices are down worldwide due to the Americans discovery and application of a process called fracking and an oil pipeline from Canada.
Fracking is the process of drilling down into the earth before a high-pressure water mixture is directed at the rock to release the gas inside. Water, sand and chemicals are injected into the rock at high pressure, which allows the gas to flow out to the head of the well.
The Venezuelans held the United States hostage with oil supplies for years, even offering cheap oil to certain cities and communities as a snub to the U.S. Government. The Venezuelans own gas stations all over the US, thus squeezing those extra dimes from the Americans.
Citgo is a U.S. refining and marketing firm that is a wholly-owned subsidiary of Venezuela’s state-owned oil company. Money you pay to Citgo goes primarily to Venezuela. There are 14,000 Citgo gas stations in the US. By buying gasoline at Citgo, American are contributing to the billions of dollars that Venezuela’s democratic government is wasting on military arms.
Venezuela dictator Hugo Chavez vowed to bring down U.S. Government.
Chavez, president of Venezuela, told a TV audience: “Enough of imperialist aggression; we must tell the world: down with the U.S. empire. We have to bury imperialism this century.”
It’s such a shame that Chavez is no longer with us to experience Venezuela getting a good fracking.
The Venezuelans have done deals with the Russia for military hardware that is now approaching 2 trillion US dollars. Hugo Chavez initial orders were something more than 5 billion US dollars.
Venezuela magnified that stupidity by using US Dollars only in the pricing process with the Russians, then entering into and sealing contracts by making the payment terms in supplying an equal amount in US dollars of crude oil. So as the price for crude oil has fallen, the Venezuelans now have to supply ten times as much oil to the Russians to keep up with evaluating the US dollar value of the oil against the barrel.
A desperate Venezuela decided to sell Citco in the US to raise some cash. In January 2015 the sale process for Venezuela’s Citgo Petroleum Corp. was called off, and the U.S.-based oil refiner instead plans a debt sale that would raise funds for the cash-strapped Venezuela (that debt sale may include the sale of debts owed to PetroCaribe by small Caribbean island states).
The auction or bid process was scrapped after several suitors submitted extremely low bids in early December.
Citgo operates three U.S. oil refineries and related assets from its Houston headquarters, which was expected to fetch between $8 billion and $11 billion, should it have been sold.
In simple words the Venezuelans are well and truly fracked. Perhaps better put, as “fracked up hill and down dale”.
The Venezuelans are now so fracked off, they have this week announced, some more nonsensical actions. And it’s just to take the Venezuelan electorate’s minds off of the good fracking that Venezuela and its oil industry are receiving from the US because of their Marxist leaders’ very silly policies, Moduro invented a coup attempt.
An “American airplane pilot” with “Latino roots” has been detained by Venezuela’s government, accused of spying and recruiting citizens to stage a coup, President Nicolas Maduro announced on TV.
The Maduro said the pilot, who has not been named, was part of a group of six U.S. nationals arrested in the state of Táchira, near the Colombian border, in the last few days.
Addressing a rally on Saturday, Maduro said the man had “documentation” that suggested he was involved in “espionage” and “recruitment”. It comes after four missionaries were questioned over alleged “spying” after running a medical assistance campaign in the coastal town of Ocumare de la Costa, which greatly annoyed the Cubans who made a complaint directly to Moduro
All U.S. citizens now require visas to enter Venezuela and Maduro said he is setting the price of visas very high.
My advice to the Venezuelan president is to stop being such a idiot, all your silliness will only make things worse for you when your military decide to shoot you in the usual military style, with a blindfold and a cigarette, and that’s just for the souvenir photo taken with their cell phones.
The latest whisper directed to me from Venezuela is, out of desperation Venezuela is looking to sell the sovereignty of Aves (Bird) Island with it’s new 200 mile exclusive economic zone (EEZ), for 9 trillion US dollars including oil and gas reserves in the zone. The problem is only the members of OECS and CARICOM recognize that 200-mile zone when they recognized Bird Island as an island and not a rock. Because as a rock the limit was 12 miles around the rock but 200 miles around it as an island. The UN and most other countries still only recognize it as a rock. So what it amounts to is that because of the silly advice from two Caribbean prime ministers, most of the Caribbean islands have lost much of their sovereignty of the sea and sea bed in waters they owned as EEZ.
The Objectives of the OECS are to: promote co-operation among its Members and defend their sovereignty, territorial integrity; promote economic integration; assist them in meeting their international obligations and responsibilities; and establish wherever possible, arrangements for joint overseas representation and common services.
Yet the persuasiveness of two Caribbean Prime Ministers, both friends of Fidel Castro and Hugo Chavez put paid to that.
So it would appear that CARICOM and OECS member states have been fracked as well.
The views expressed herein are those of the writer and do not necessarily represent the opinions or editorial position of iWitness News. Opinion pieces can be submitted to email@example.com.