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When Shell was in Russia drilling for oil, the oil was still Russia's.
When Exon was drilling in Libya, they were paid to drill for Libyan oil.
And when Chevron drills for oil in Venezuela, they will be paid to drill for Venezuelan oil.
it is a big money loser deal for Chevron,why should it bother?
Chevron is being paid to pump Venezuelan oil. When it comes out of the ground it is still Venezuelan oil.
When they pumped oil in Russia, they were being paid to pump Russian oil.
When Exon was in Libya, they were being paid to pump Libyan oil.
People seem at assume that because Chevron is pumping oil, that oil is suddenly American oil. No. Chevron is being paid to set up and pump. They don't care what that oil sells for or where it goes - at least not as far as this operation is concerned.
Correct, the US never wanted to leave, we were kicked out. You really think the US would decline access to oil after we started the entire Iraq war in 2002 just to get access to that sweet, sweet oil?
Dealing with Venezuela is a cake walk compared to dealing with the Middle East for oil.
And if we don't Russia and China would love to control oil there.
Venezuela has the worlds largest oil reserves. US gulf coast refineries are specialized to process the Venezuelan crude grades. It is high time we stop this sanction nonsense. Not only has it driven up costs for US consumers, but it largely responsible for the economic collapse that is sending thousands upon thousand of Venezuelans to our southern border.
SHAREHOLDERS ARE PEOPLE TOO!
AND THEY HAVE MONEY AT STAKE.
I dont see why CHV should go back,the infrastructure is no longer there.
We can get heavy crude from Africa
Me either. Plus you know it's only a matter of time. Now if it's just as consultants ala middle east maybe. There's still some expenses but much less. They don't have the money though to pay for extracting oil. Nobody will lend to them same reason no one wants to invest their.
That's exactly the status quo anyway. Chevron never left in its consulting role but oil production is maybe 20 to 30 percent what it was because of bad ownership.
IMO cheap gas is cheap gas. It all goes on the global market. People selling big four door pickup trucks will love it. People with oil stocks will hate it. If politicians want me to feel guilty about my $2000.00 per year funding corruption some where they can go take a hike.
When elephants fight the grass gets trampled, so don't be the grass.
I see where you are going with this. But it seems Venezuela is conceding here. They kicked out the Americans under Chavez and now are bringing them back. If we can help increase production world wide and lower prices that is good.
And this energy independence stuff. We never stopped importing oil under Trump. There are reasons beyond politics to explain why that is the case. If we ever get to the point that we no longer import any oil and rely only on American oil, lets talk then
Kudos, you get it. This simpleton logic is tedious with the we we were energy independent under Trump. People are just so easily lied to and lead when they are emotionally involved with any charismatic leader. Don't mention the evils of OPEC. It will confuse those attached to a lie and simpleton narrative.
Chevron can pump but it's not their refinery anymore....it's all nationalized.
Chevron can pump Madura's oil.
who is going to pay to rebuild the infrastructure,their oil field equipments are either stolen and sold for scrap or getting rusty and useless?
Their workers have left .you cant just go back drilling ,those oil fields left abandoned in bad shape.
They dont even have good trucks on the road to bring water .
Biden is just getting desperate
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Kudos, you get it. This simpleton logic is tedious with the we we were energy independent under Trump. People are just so easily lied to and lead when they are emotionally involved with any charismatic leader. Don't mention the evils of OPEC. It will confuse those attached to a lie and simpleton narrative.