You are making a false equivalency fallacy. You are not ruining any argument except your own.
You need to go back and read the thread because you're not making any sense.
You are making a false equivalency fallacy. You are not ruining any argument except your own.
There is no 'peak' in a price war. A price war is in the very nature of competition.
That currency would be so useless nobody would accept it.
Seven million people have left Venezuela due to repression and lack of food.
Do you think they believed the government and government owned oil company is competent; or, are they just racists?
Because of political corruption removing those with oil and gas experience and replacing them with political cronies who ruined the oil production.
That has nothing to do with ethnicity (Hispanics are not a race) and did not occur in TX, OK, and ND.
Big differences and false equivalency on your part.
Big differences and false equivalency on your part.
False equivalency.
The U. S. was not incapable of producing like Venezuela was.
It came back and became the world's leading producer of oil and gas.
Venezuela has to bring in those evil capitalists to help it produce.
For the same reasons anyone leaves; to seek a better life for themselves.
Over 100 oil and natural gas companies went bankrupt to the tune of over $100B, with 67 of them going bankrupt in 2015 alone.
Right, and the purpose of that competition is to make the most money possible...which is why they meter out exactly how much oil will produce the highest possible profit.
That is not in the consumers' best interest.
So once again, the dissonance crops up...you want cheaper oil, but you also want "competition".
You can't have both.
The Venezuelan oil industry couldn't produce.
TX, OK, and ND did not have political corruption that destroyed their production capability
You need to go back and read the thread because you're not making any sense.
Void answer. Try again.
Making shit up isn't going to help you. Argument from randU fallacy. False authority fallacy. Fake News.
You pretend to be a contrarian because when it comes down to it, you ultimately don't believe in anything so your standard operating procedure is to just be contrary in the hopes you tire the other person out before they point out your phoniness:
Oil prices keep plummeting as OPEC starts a price war with the US
https://www.vox.com/2014/11/28/7302827/oil-prices-opec
OPEC is confident that it's winning its price war with US shale
https://www.businessinsider.com/opec-is-winning-the-price-war-against-us-shale-2015-4
An analysis of OPEC’s strategic actions, US shale growth and the 2014 oil price crash
https://www.imf.org/external/pubs/ft/wp/2016/wp16131.pdf
Competition exists, dude, whether I want it or not.
I can guarantee you that control of oil production was not a deciding factor in anyone's decision to leave Venezuela.