ExxonMobil CEO tells Trump Venezuela is ‘uninvestible,’ despite Trump’s plans to rebuild its energy infrastructure
- Thread starter signalmankenneth
- Start date
Great point. It is so very obvious he is living in the past!
I worked for ExxonMobil and have a pretty good sense of their risk management strategy. I don't remember Exxon during my career ever being terribly excited by Venezuela. Exxon's assets were seized twice by Venezuela, and I haven't seen any guarantee it won't happen to them again in ten years.
Heavy, low quality oil in volatile countries with creaky infrastructure is not the high end investment opportunity a top tier multinational like Exxon typically looks for.I doubt you even know what point you are desperately flailing about and trying to make.
We love heavy crude most of our coastal refineries are set up to refine it. We sell sweet crude at a premium and buy heavy crude at a discount because at lot of refineries cannot refine heavy crude.
And how are we going to generate the electricity of AI?
That is OK Exxon's competitors will invest in Venezuela.
You and Trump are just asking my colleagues at ExxonMobil to just trust you that Venezuela will be a safe and stable place to invest in for the next 25 years.
Exxon was already burned twice by Venezuela.
The economics of production, transportation, and refinement of our own domestic heavy oil from California and the Dakotas is not the same kind of economics as for profitably producing low quality heavy oil from a volatile and decrepit south American country
Major oil companies are not interested and smaller oil companies don’t have the knowledge or assets to do it. It’s another DonOld folly, a bill of goods sold to him by incompetent advisors.
Read my link. ExxonMobil did not say they would not go in at all. Quite the opposite. Democrats on this board are well known to post snippets of articles and never read the whole thing.
Conoco, Shell, BP were burned by Venezuela before, just like ExxonMobil was.
Smart people run these multinational corporations... smarter than Trump or you.
They are not just going to just take your and Trump's word for it that Venezuela will be a safe and stable place to invest for decades to come.
Venezuela is too risky an investment, particularly for low quality heavy oil. The major multinationals were burned by Venezuela before.
The oil companies left Venezuela because of an unpredictable environment. They moved to Canada for similar oil and a much better business climate. They spent have a billion setting things up. They will not go to Venezuela. Maduro lied about the oil reserves too.
Dutch Uncle
* Tertia Optio * Defend the Constitution
Trump doing what he does best: Ready, Shoot, Aim! LOL
How long before President Two Weeks screams at reporters "Why are you still talking about Venezuela!"?
Dutch Uncle
* Tertia Optio * Defend the Constitution
^^^
Still has over 100 cases of HCQ in her garage.
Crepitus
Verified User
Wekk he can kiss that MAGA card goodbye, lool
The reserves are real, but to get it out would require a complete rebuild of the industry. At one point Trump said that oil companies would be paid for the work....but Trump says a lot of things.
Yall are missing the Cuba connection. Trump is spending $1 billion a day to stop Venezuela's oil getting to Cuba while starving the Venezuelan people. Trump thinks China and Russia will come to the rescue in the Western Hemisphere.
Neocons don't realize Xi and Putin have airtight contracts with Venezuela and 98% of Latin American counties with the paperwork already making its way to the courts. Xi and Putin are always 3 moves ahead of the US $40 trillion war debt.
Neocons don't realize Xi and Putin have airtight contracts with Venezuela and 98% of Latin American counties with the paperwork already making its way to the courts. Xi and Putin are always 3 moves ahead of the US $40 trillion war debt.
Courts of law are increasingly relics of a more civilized time. You for instance live in a country where the supreme court is no longer a court of law.....it is a second legislature.