Comment Re:Not about the law (Score 1) 104
Venezuela should be producing 3.5 million barrels daily according to their own projections, yet they struggle to produce even half.
So you're saying that Venezuela struggles to produce 1.75 mbd? Do you realize it's a bit hard to give credit to anything you say after this?
The new PDVSA only hires people loyal to the government, everything else is secondary, resulting in accident after accident, the biggest of all resulting in one of the biggest explosions in history.
If you read the article you linked, Venezuelan officials say it was sabotage. Of course, maybe they lie, or they're sincere but wrong. All I can see with my own eyes is that the whole western world seems so intent on destroying them that people even post ridiculous numbers to discredit them on slashdot forums. So it could also be that they're right.
That is why the government is now focused on begging the other OPEC members to lower production. Oil price is their convenient excuse, the real reason is their inability to compete with well run companies.
Venezuela pushing to lower global production is not new, it dates from the creation of OPEC (more or less at their initiative).
PS: There is a lot of investment in the oil industry in Venezuela (too much according to some), and a lot of cooperation with foreign companies.