Category Archives: Oil

Gas prices and car ownership

Posted on May 14, 2013 by

An interesting post about Venezuelan gasoline consumption from UC Berkeley Professor of Economics Lucas Davis. He says that Venezuelans don’t own more cars per capita than comparable countries in the region, so the large consumption must be because they own … Continue reading →

Posted in Oil, Politics, The Economy, Venezuelan Culture | 21 Comments

“There’s a storm a-comin’…”

Posted on May 8, 2013 by

That’s the message from Tom O’Donnell, quoting various sources, including Saudi oil minister al-Naimi. The gist: with increased oil production all over the world, with North Dakota becoming the latest oil boom hotspot, with fracking technology making quick progress in … Continue reading →

Posted in Oil | 34 Comments

Don’t know who Juan S. Montes is? Maybe you should…

Posted on April 4, 2013 by

The senior PDVSA manager (a.k.a. “Black”) is fingered for pocketing some US$35.7 million in bribes from Francisco Illarramendi to make his PDVSA Ponzi Scheme possible. Much more detail in this International Consortium of Investigative Journalists report. Unfortunately, the names of … Continue reading →

Posted in Corruption, Oil | 7 Comments

Sponsored hip-hop

Posted on April 2, 2013 by

You’ve probably never heard of Rebel Diaz, a hip-hop group from NYC’s South Bronx, whose music is top-heavy with ñángara politics. Days ago, they released a new tribute to the late Hugo Chávez. In “Work like Chávez”, they didn’t just … Continue reading →

Posted in Chavismo, In Other News, International, Oil | 42 Comments

It’s a funny kind of anti-imperialism

Posted on March 27, 2013 by

Regardless of Nicolás Maduro’s rhetoric, the facts simply speak for themselves: We’re not just dependent on the U.S. as a market for the oil exports that pay for the import of, um, pretty much everything that can be imported. Now … Continue reading →

Posted in International, Nicolas Maduro, Oil, The Economy | 42 Comments

David Frum thinks our book is essential, so go buy it!

Posted on March 17, 2013 by

An exceedingly generous review of our book, by The Daily Beast’s David Frum. The money quote: If [the authors'] telling is correct, whatever else Chavismo is, it’s not sustainable beyond the lifespan of Chavez himself. Without Chavez’s demagogic gift for distracting … Continue reading →

Posted in Blogging, Oil, Venezuelan Culture | 30 Comments

Lukoil learns the hard way

Posted on March 15, 2013 by

Andrei Kuzyayev, an executive of Russian oil giant Lukoil, told Reuters last week that Venezuela could boost its oil production in the next few years, but to do so needs “…a quiet situation, stability in contracts and a good situation for … Continue reading →

Posted in In Other News, International, Oil, The Economy | 21 Comments

Llegó la hora … de pagarle a los chinos (Updated)

Posted on March 4, 2013 by

A publisher friend (more on that later) sent me a copy of José Toro Hardy’s Llegó la Hora, and I found a piece of news that I wasn’t aware of. It turns out that the Chinese are not subsidizing us, but … Continue reading →

Posted in China, Oil, The Economy | 18 Comments

Chevron shake-down? (Updated)

Posted on March 4, 2013 by

Setty has the details. Maduro’s line seems to be to continue to negotiate with Chevron on parallel tracks – simultaneously denouncing them and beseeching them to put more money into Faja operations. The story line about the Chinese unwilling to … Continue reading →

Posted in Oil, The Economy | 5 Comments

Amuay = devaluation?

Posted on February 25, 2013 by

Today marks the six-month “anniversary” of the explosion in the Amuay Refining Complex. Aside from being a massive tragedy, Amuay could have also been responsible for the devaluation of the bolivar. These two events might seem to be unrelated at … Continue reading →

Posted in infrastructure, Oil, Politics, The Economy | 24 Comments

The Long View on Oil-to-China

Posted on February 19, 2013 by

Over on Global Barrel, Tom O’Donnell makes the case that the Venezuela-China oil relationship has now reached a kind of critical mass that will keep it going far into the future, regardless of the politics on either side of the Pacific. … Continue reading →

Posted in Oil | Tagged , , , | 21 Comments

A timely reminder

Posted on January 30, 2013 by

This nifty BBC interactive feature serves as a timely reminder: gasoline in Venezuela isn’t so much “cheap” as it is, for all intents and purposes, free. [Hat tip: Anelim]  

Posted in Oil | 10 Comments

The bandwagon is getting crowded

Posted on January 28, 2013 by

Long-time readers know extorres, our frequent (yet annoyingly anonymous) commenter who has been pushing the direct distribution of oil wealth for a loooong time. Today, the Wall Street Journal’s Mary Anastasia O’Grady buys right into his idea. Citing a study … Continue reading →

Posted in Oil | 58 Comments

Chávez and the Saudis

Posted on January 14, 2013 by

One of the least explored aspects of Hugo Chávez’s foreign policy has been his relationship with Saudi Arabia. The Saudis have long been advocates of moderation within OPEC, by virtue of their alliance with the United States and their large … Continue reading →

Posted in International, Oil | 20 Comments

Conservative anti-imperialism

Posted on January 4, 2013 by

In Foreign Affairs, Javier Corrales coins a term I had not heard before: “conservative anti-imperialism.” It describes Chávez’s approach to relations with the US: antagonistic, but not that much; virulently vociferous, but eager to make a sale. The money quote: … Continue reading →

Posted in International, Oil | 17 Comments