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12.01.26 - 22:12
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Socialism, Not Sanctions, Is Responsible For The Destruction Of Venezuela (ZeroHedge)
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Socialism, Not Sanctions, Is Responsible For The Destruction Of Venezuela
Authored by Daniel Lacalle,
Venezuela is not poor due to sanctions. It is poor because the Chavez-Maduro regime stole hundreds of billions of dollars and demolished the productive fabric of the economy.
Venezuela had 12,700 private companies when Chávez came to power, according to Conindustria. Only about 3,800 manufacturing industries are still operating, of which around 3,200 are privately owned and 600 are state‑owned.
The assault on private property culminated with the expropriation of more than 690 companies in twelve years. Government-run businesses failed, and large state-owned companies in Venezuela are technically insolvent or heavily loss-making.
Socialism of the XXI century, they called it: government expropriations, price controls, capital controls, and complete absence of legal and investor security.
The socialist regime arrived in a period of rising oil prices and squandered one of the largest oil bona...
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12.01.26 - 20:24
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Republicans Have Quickly Rallied Behind Trump On Venezuela (ZeroHedge)
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Republicans Have Quickly Rallied Behind Trump On Venezuela
A week after "Operation Absolute Resolve", which saw the U.S. military attack targets in Venezuela to capture and extract President Nicolás Maduro, the international community is still grappling over the legality of the U.S. intervention.
While some experts are saying that the illegality of the U.S. attack is beyond doubt, U.S. allies are hesitant to openly denounce the U.S. actions.
The European Union, for example, issued a statement calling for calm and restraint by all parties involved. While acknowledging that Maduro lacked the legitimacy of a democratically elected president, the statement backed by 26 EU member states stressed that it was the right of the Venezuelan people to determine their own future. While calling for everyone, under all circumstances, to uphold the principles of international law and the UN Charter, the EU stops short of openly accusing the U.S. of violating these rules.
Meanwhile, as Statista...
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12.01.26 - 20:24
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Trump May Freeze Exxon Out Of Venezuela After CEO Darren Woods Called It "Uninvestable" (ZeroHedge)
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Trump May Freeze Exxon Out Of Venezuela After CEO Darren Woods Called It "Uninvestable"
Tensions flared between Exxon Mobil and the White House after CEO Darren Woods cast doubt on Venezuela's appeal as an investment destination during a closed-door meeting with U.S. President Donald Trump and other oil executives last week, according to Reuters.
Woods argued that without sweeping legal and regulatory changes, the country could not support major foreign investment, describing its current system as “uninvestable.”
Trump had convened the meeting only days after U.S. forces removed Venezuelan President Nicolas Maduro in an overnight operation and urged the industry to commit as much as $100 billion to rebuilding Venezuela's energy sector. Instead of gaining momentum, the talks were quickly overshadowed by Woods' skepticism.
Reuters writes that Trump publicly voiced his frustration on Sunday while returning to Washington aboard Air Force One. “I didn't like Exxon's response,?...
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12.01.26 - 18:12
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US plan to exploit Venezuela′s oil could eat up 13% of carbon budget to keep 1.5C limit (The Guardian)
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Exclusive: ClimatePartner analysis shows how move would risk plunging Earth further into climate catastropheUS plans to exploit Venezuela's oil reserves could by 2050 consume more than a tenth of the world's remaining carbon budget to limit global heating to 1.5C, according to an exclusive analysis.The calculation highlights how any moves to further exploit the South American nation's oil reserves – the largest in the world, at least on paper – would put increasing pressure on climate goals, and risk plunging the globe further into climate catastrophe. Continue reading......
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12.01.26 - 17:12
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Trump threatens to block ExxonMobil from Venezuela after CEO calls country ′uninvestable′ (The Guardian)
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US president says company is 'playing too cute' after CEO responds sceptically to his push for oil investment after deposing Nicolás MaduroDonald Trump has said he might block ExxonMobil from investing in Venezuela after the oil company's chief executive called the country “uninvestable” during a White House meeting last week.Darren Woods told the US president that Venezuela would need to change its laws before it could be an attractive investment opportunity, during the high-profile meeting on Friday with at least 17 other oil executives. Continue reading......
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