HavokFour
Army.ca Veteran
- Reaction score
- 2,172
- Points
- 1,040
So a thought has just occurred to me.
Before, after, or during the World Cup? Because if before this could easily stretch well past them, and if after they don't end until July 19th.
2025 U.S. - Venezuela conflict
- Thread starter brihard
- Start date
So a thought has just occurred to me.
Before, after, or during the World Cup? Because if before this could easily stretch well past them, and if after they don't end until July 19th.
Altair
Army.ca Fixture
- Reaction score
- 1,676
- Points
- 1,140
Yes.
- Reaction score
- 6,243
- Points
- 1,260
Well if they start before FIFA I sure would not want to be a US tourist in Mexico during the World Cup
- Reaction score
- 6,243
- Points
- 1,260
This article is very informative and telling of the struggles that Trump faces in getting large amounts of oil out of VZ.
www.bbc.com
US President Donald Trump has asked for at least $100bn (£75bn) in oil industry spending for Venezuela, but received a lukewarm response at the White House as one executive warned the South American country was currently "un-investable".
But the oil bosses present expressed caution.
Exxon's chief executive Darren Woods said: "We have had our assets seized there twice and so you can imagine to re-enter a third time would require some pretty significant changes from what we've historically seen and what is currently the state."
"Today it's uninvestable."
"You're dealing with us directly. You're not dealing with Venezuela at all. We don't want you to deal with Venezuela," he said.
At roughly one million barrels per day, the country accounts for less than 1% of global supply.
Repsol, which currently boasts output of about 45,000 barrels per day, said it saw a path to triple its production in Venezuela over the next few years under the right conditions.
"They are being as polite as humanly possible, and being as supportive as they can, without committing actual dollars," said David Goldwyn, president of the energy consultancy Goldwyn Global Strategies and former US state department special envoy for international energy affairs.
While smaller companies might be more eager to jump in and help boost Venezuela's oil production over the next year, he said those investments would likely hover in the $50m range - far from the "fantastical" $100bn figure that Trump has floated.
Rystad Energy estimates it would take $8bn to $9bn in new investments per year for production to triple by 2040.
Trump seeks $100bn for Venezuela oil, but Exxon boss says country 'uninvestable'
Oil executives expressed caution, with one executive saying Venezuela had seized their assets twice.
www.bbc.com
US President Donald Trump has asked for at least $100bn (£75bn) in oil industry spending for Venezuela, but received a lukewarm response at the White House as one executive warned the South American country was currently "un-investable".
But the oil bosses present expressed caution.
Exxon's chief executive Darren Woods said: "We have had our assets seized there twice and so you can imagine to re-enter a third time would require some pretty significant changes from what we've historically seen and what is currently the state."
"Today it's uninvestable."
"You're dealing with us directly. You're not dealing with Venezuela at all. We don't want you to deal with Venezuela," he said.
At roughly one million barrels per day, the country accounts for less than 1% of global supply.
Repsol, which currently boasts output of about 45,000 barrels per day, said it saw a path to triple its production in Venezuela over the next few years under the right conditions.
"They are being as polite as humanly possible, and being as supportive as they can, without committing actual dollars," said David Goldwyn, president of the energy consultancy Goldwyn Global Strategies and former US state department special envoy for international energy affairs.
While smaller companies might be more eager to jump in and help boost Venezuela's oil production over the next year, he said those investments would likely hover in the $50m range - far from the "fantastical" $100bn figure that Trump has floated.
Rystad Energy estimates it would take $8bn to $9bn in new investments per year for production to triple by 2040.
- Reaction score
- 6,257
- Points
- 1,260
C’mon, “facts” have no place on the internet!
HavokFour
Army.ca Veteran
- Reaction score
- 2,172
- Points
- 1,040
This article is very informative and telling of the struggles that Trump faces in getting large amounts of oil out of VZ.
Trump seeks $100bn for Venezuela oil, but Exxon boss says country 'uninvestable'
Oil executives expressed caution, with one executive saying Venezuela had seized their assets twice.
US President Donald Trump has asked for at least $100bn (£75bn) in oil industry spending for Venezuela, but received a lukewarm response at the White House as one executive warned the South American country was currently "un-investable".
But the oil bosses present expressed caution.
Exxon's chief executive Darren Woods said: "We have had our assets seized there twice and so you can imagine to re-enter a third time would require some pretty significant changes from what we've historically seen and what is currently the state."
"Today it's uninvestable."
"You're dealing with us directly. You're not dealing with Venezuela at all. We don't want you to deal with Venezuela," he said.
At roughly one million barrels per day, the country accounts for less than 1% of global supply.
Repsol, which currently boasts output of about 45,000 barrels per day, said it saw a path to triple its production in Venezuela over the next few years under the right conditions.
"They are being as polite as humanly possible, and being as supportive as they can, without committing actual dollars," said David Goldwyn, president of the energy consultancy Goldwyn Global Strategies and former US state department special envoy for international energy affairs.
While smaller companies might be more eager to jump in and help boost Venezuela's oil production over the next year, he said those investments would likely hover in the $50m range - far from the "fantastical" $100bn figure that Trump has floated.
Rystad Energy estimates it would take $8bn to $9bn in new investments per year for production to triple by 2040.
Not to mention, that's $100bn in current dollars. 14 years will add a nice chunk of inevitable inflation to that number, or the whole thing might be entirely killed off by a future administration.
This was not thought through very well at all and if anything I think we're going to see the oil companies just try to run down the clock with the polite niceties already happening mentioned in the article.
Last edited:
Who here is “hoping for Venezuela to fail” (more than it already has)? Several of us are just pointing out that Trump may have based his strategy, such as it is, on rather fantastical notions of how willing the large Petro companies will be to deploy finite capital there versus anywhere else. It boils down to a pretty simple matter of risk and opportunity cost. Looks like maybe he skipped the economic part of his race.
- Reaction score
- 1,518
- Points
- 1,160
Or the estimated 800,000+ Americans who live in Mexico year-round!
QV
Army.ca Veteran
- Reaction score
- 4,905
- Points
- 1,040
You sure of all that? You think all of this is just happening on the whims and micro managed commands of one guy?
- Reaction score
- 7,438
- Points
- 1,360
I refuse to believe POTUS47, during the World Cup of all events, would besmirch the spirit, sanctity and long history of this ....
FIFA introduces the FIFA Peace Prize - an award to recognise exceptional actions for peace and unity
FIFA has announced the introduction of the “FIFA Peace Prize – Football Unites the World” to reward individuals who have taken exceptional and extraordinary actions for peace and by doing so have united people across the world.
inside.fifa.com
Quote one posting saying "Yeah, I'm a big fan of Maduro & Co. in VEN!!!!!!!!!" from the thread, then
I'm seeing more "happy to see a shitbag gone, but was this the way to do it, and have they considered knock-on effects," but YMMV.
Thanks for that. Also, it's not as if there aren't oil companies who've ended up being nationalized after getting in on the ground floor in this part of the world, so to speak, in the past, right?This article is very informative and telling of the struggles that Trump faces in getting large amounts of oil out of VZ.
Trump seeks $100bn for Venezuela oil, but Exxon boss says country 'uninvestable'
Oil executives expressed caution, with one executive saying Venezuela had seized their assets twice.
- Reaction score
- 6,239
- Points
- 1,260
Any counter theory to propose?
Any analysis on what actually happened, as opposed to a very cursory and self-serving analysis of the comments of others?
Any thoughts on how likely Oilcos are to make immediate investments?
In other words, anything to add to the discussion in this social grouping that you chose to join?
- Reaction score
- 3,859
- Points
- 1,160
And again you don't respond to questioning of allegations that you make.
But, "one guy"?
Actually, yes. That's how the American system of government has evolved, moreso in the age of Trump. There will be plenty of "advisors" whispering in the President's ear (or more likely tweeting or laying forth their philosophy on Fox or wherever else they play). But the decision making is exclusively the President. And since you seemingly place much faith in Mr. Trump's abilities, what constrains his "whims"? According to the man himself the only limit on his power is his "own morality". So it is understandable (even justifiable) when his or his government's actions raise questions of morality.
- Reaction score
- 8,700
- Points
- 1,160
Maduro is a bad dude. Enslaved his country, murdered dissidents, nationalized and destroyed the oil infrastructure and on and on. Whether it's oil or drugs, it's best he's gone and I don't care how. Trump had an initial, official meeting with the oil companies at the WH yesterday. One company (EXXON?) lost $11 billion when they were nationalized. Much the same for the others. They signalled they would like that money back. This is going to be a long process. Don't burn out the first week.
daftandbarmy
Army.ca Fossil
- Reaction score
- 43,335
- Points
- 1,160
Maduro is a bad dude. Enslaved his country, murdered dissidents, nationalized and destroyed the oil infrastructure and on and on. Whether it's oil or drugs, it's best he's gone and I don't care how. Trump had an initial, official meeting with the oil companies at the WH yesterday. One company (EXXON?) lost $11 billion when they were nationalized. Much the same for the others. They signalled they would like that money back. This is going to be a long process. Don't burn out the first week.
The oil industry knows how to get some product out faster than others...
A Credible Path to Political Stability Is Indispensable for Trump’s Venezuela Oil Aspirations
Adding incremental tranches of Venezuelan oil production can be split into two categories: easy/short-term and challenging/protracted. For example, one “low-hanging fruit” initiative to increase output would involve an extensive program of “workovers” (major maintenance and repairs) on existing oil wells. This would require the deployment of at least a few dozen drilling rigs from outside Venezuela, access to specialized materials (many of which will be more expensive starting this year because of Trump’s tariffs), and oilfield services specialists from countries like the United States. Such a workover program might increase output by approximately 500 kb/d (or 50 percent of current output) within 18 months of its initiation, at a cost of “only” a few billion dollars.
On the other hand, building and refurbishing upgrading units are on the other side of the cost and complexity spectrum—with a price tag of tens of billions of dollars and requiring at least several years for unit renovations, and perhaps six or more years for new builds. This longer timeline will be needed to grow Venezuela’s sustainable production capacity materially above 2 mb/d.
A Credible Path to Political Stability Is Indispensable for Trump’s Venezuela Oil Aspirations
Policymakers should understand that U.S. oil companies will need to see a credible path to political stability before spending time and resources to evaluate opportunities in the Venezuelan oil sector.
Whims, yes. Micromanaged, no. Trump’s whims are a necessary conditions but not a sufficient one. He can come up with a stupid idea and decide to make it so without most of the usual constraints that stand between thinking of something while on the toilet, and making it federal policy. His stupid ideas do require enablers to execute. However he has subsumed so much control over the federal executive that it seems less and less common for someone to be willing to tell him “sir, this probably won’t work and here’s why”.
I think he fundamentally struggles to accept the limits of his power. He can order the U.S. Navy and Air Force to bomb the hell out of something and they will. He cannot order Exxon to dump tens of billions of dollars into what they view as a bad investment. This fact bothers the hell out of him. We’re seeing him continuing to try to exert more direct federal executive control on the internal governance and operations of publicly traded corporations. This tension will remain interesting to watch for the rest of his term.
- Reaction score
- 6,243
- Points
- 1,260
The article talks directly about that - Exxon CEO speaks directly about this.I refuse to believe POTUS47, during the World Cup of all events, would besmirch the spirit, sanctity and long history of this ....
FIFA introduces the FIFA Peace Prize - an award to recognise exceptional actions for peace and unity
FIFA has announced the introduction of the “FIFA Peace Prize – Football Unites the World” to reward individuals who have taken exceptional and extraordinary actions for peace and by doing so have united people across the world.
Quote one posting saying "Yeah, I'm a big fan of Maduro & Co. in VEN!!!!!!!!!" from the thread, then
I'm seeing more "happy to see a shitbag gone, but was this the way to do it, and have they considered knock-on effects," but YMMV.
Thanks for that. Also, it's not as if there aren't oil companies who've ended up being nationalized after getting in on the ground floor in this part of the world, so to speak, in the past, right?
- Reaction score
- 11,147
- Points
- 1,040
Some things Trump remains seized of and command his attention for a while.
Some things are other peoples' agendas. They get his ear; they get permission; they do their thing; maybe he later claims credit. The Trump administration in this respect isn't much different than the Biden administration. The last president to firmly grip his people was Obama, and before that most of them did so except in a very few notable cases where presidents became indisputably infirm in office.
Some things are other peoples' agendas. They get his ear; they get permission; they do their thing; maybe he later claims credit. The Trump administration in this respect isn't much different than the Biden administration. The last president to firmly grip his people was Obama, and before that most of them did so except in a very few notable cases where presidents became indisputably infirm in office.
