Why this blog?
Until this moment I have been forced to listen while media and politicians alike have told me "what Canadians think". In all that time they never once asked.
This is just the voice of an ordinary Canadian yelling back at the radio -
"You don't speak for me."
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What They Say About SDA
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“Schlumberger plays a special role in all this. The company has been in Venezuela forever: it made the first electrical well log in the Americas in Cabimas in 1929. The company seems to have been brought back in to patch up the mess PDVSA made in El Furrial. It listed a well intervention there as one of the highlights on its 2015 4Q Results.
That PDVSA is still relying on the likes of Schlumberger to keep El Furrial in production is an especially bitter irony. The government has long accused the service companies of a “silent sabotage”. From 2006 on, in order to lessen this dependence and to shield itself from an improbable second paro petrolero, PDVSA started to acquire drilling rigs, well completion equipment, gas and water injection facilities, etc. This was just a piece of the “total sovereignty over oil” puzzle. As then President of PDVSA-cum-Minister, Rafael Ramirez, put it, they wanted to create “Our own Halliburton, the Bolivarian one”.
But plans didn’t go as planned.”
…
http://www.caracaschronicles.com/2016/07/28/el-furrial/
… and the youngsters may get to see a revival of the very old-fashioned hang-’em-from-the-lampposts form of justice.
so, driving a bus does not qualify one for understanding the complexities of such oil operations!!!
Brian Mason outlasted all the others and got lucky.
Thanks for the comment marc and the link. A very readable and interesting article.
Corruption in the Latin American countries is a way of life. I’m inclined to believe that is cultural. I know that the Mexican oil sector had (still has?) similar corruption problems though certainly not as severe.
Why is it that oil companies will risk doing business in the most craziest, lawless places on Earth? Places where you can get your head cut off or your employees kidnapped. Places run by dictators and Stone Age Psychos…
But Canada even thinks about tinkering with already fairly low royalty rates and everyone’s like, “We’re out!”
“Don’t invest anything there! It’s not safe! Shit down future plans! Fire everyone you can! Don’t do anything until perfect conditions return! And only three years after that maybe we’ll consider doing something!”
When Queerbec cannot get clean Venezuelan oil anymore does that mean they will have to buy dirty Alberta oil? Maybe more reliable alternatives like Nigeria would be the preferred route to take.
Oh my memory lapses. The east now has their ‘carbon taxes’ to draw on to subsidize their lifestyles.
The pervasive, irrational, HATE, fear and loathing of the oil industry by poorly educated Venezuelans, Brazilians, and Mexicans is matched only by “green” North Americans. All of these groups have profited wildly, in cash, and quality of life, but have been carefully taught to bite the hand that feeds them. What do all these groups share in common ? Marxism … Socialism … Communism. And … a poor and/or twisted education that negates reality in favor of fantasy. The disastrous result of which keeps being evidenced over and over across the globe.
“Why is it that oil companies will risk doing business in the most craziest, lawless places on Earth?”
It may bother some to know that companies like certainty and some of the most certain countries in the world are the ones run by dictators or communist regimes.
Imagine, for example, that you are Samsung and the Premier of Ontario has promised you billions in green funding as long as you bring some jobs to the table. By the time you have made your investment the government has dropped 2 billion on gas plant cancellations, electricity prices are through the roof, they’re running low on money and they may not form the next government.
Suddenly China and Russia are looking pretty good.
One wonders where the price of oil would be today if Venezuela had had a functioning democracy and economic freedom all these years…
If the Venezuelan Army, er, sorry, the National Army of the Bolivarian Republic of Venezuela doesn’t act soon, it won’t even have fuel for its vehicles.