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Guest Post: Venezuela Ramps up China Oil Exports Unsettling Washington

Tyler Durden's picture





 

Submitted by John Daly of OilPrice.com,

The biggest geostrategic change of the past decade overlooked by Washington policy wonks in their fixation on their self-proclaimed “war on terror” is that Latin America has been throwing off the shackles of the Monroe Doctrine.

These ignored developments may well soon refocus Washington’s attention on the Southern Hemisphere, as Venezuela’s President Hugo Chavez reorients his country’s to China.

It is not an inconsiderable element of concern for the Obama administration. According to the U.S. Energy Administration, the United States total crude oil imports now average 9.033 million barrels per day, with the top five exporting countries being Canada (2.666 mbpd), Mexico (1.319 mbpd), Saudi Arabia (1.107 mbpd), with Venezuela in fourth place at 930 thousand barrels per day. Note that two of America’s top four energy importers are south of the Rio Grande.

Furthermore, Venezuela’s reserves according to OPEC now top those of Saudi Arabia, with Venezuela now estimated to have the largest conventional oil reserves and the second-largest natural gas reserves in the Western Hemisphere. Two years ago OPEC reported that of the organization’s 81.33 percent of the globe’s known oil reserves Venezuela had 24.8 percent, exceeding Saudi Arabia with 22.2

So, why is Chavez in Washington’s bad books? Well, among other reasons, for the company he keeps, as the Russian Federation, Iran and Cuba are all allies. Note that the first two are also major oil exporters.

Worse however are the social programs that Chavez has implemented to benefit his people, which not only smack of socialism but offer an alternative to Washington’s proscriptions. Case in point - Venezuela’s health care system. A joint Cuban-Venezuelan medical program, “Barrio Adentro,” has made health care free and accessible to all Venezuelans. Founded in 2003,  Barrio Adentro expanded Venezuela’s national health care system by employing more than 30,000 Cuban medical professionals as the government equipped clinics and hospitals with advanced high technology diagnostic and surgical equipment.

Something that Americans might consider as the presidential race heats up, with Medicare on the table. Such alternatives hardly please the powers that be in Washington, but are increasingly considered in Latin America.

But, back to energy. Despite the primacy of Venezuelan oil sales to the U.S. Caracas is shifting gears, and China will soon to become Venezuela’s main trade partner, with oil sales surging 60 percent in 2012.

During a recent interview Oil Minister Rafael Ramirez said, “We are selling 640.000 barrels of petrol per day to China.” This is now equivalent to 2/3 of Venezuela’s oil exports to the U.S., up from 400,000 barrels per day in February. For those with a sense of history, before President Chavez took office in 1999, Venezuela did not ship oil to China, but Chavez has stated that by 2015 he intends to ramp up Venezuelan oil exports to China to one million barrels of crude per day. According to Ramirez, the rise in exports will come from increased production in the natural resource-rich Orinoco Oil Belt in the east of the country.

It is hard to see this emphasis shift as anything but a short-sighted diplomatic disaster for the U.S. Compounding the degradation of Washington, which insists that China in Africa in particular exploits poor nations by buying resources at rock bottom prices, Ramirez said simply, "We are selling oil to China at a better price than what is sold in the U.S. market.'' And, given Washington’s foreign aid stinginess, last week President Chavez announced that China Development Bank will bankroll $4 billion dollars in development projects, to include housing, energy and industrial growth.

Again, those with a sense of history might note that the year Chavez took office, Venezuela exported to the U.S. market 1.5 million bpd.

So, where does Washington go from here? If it wants to preserve its increasingly tenuous foothold in a nation with the world’s largest oil reserves, it might begin by engaging in some honest diplomacy.

And match Chinese rates of pay.

 

[ZH addition - there appears to be more to this whole Venezuela thing - cue: Gratuitous picture of Miss Venezuela]

 


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Thu, 08/23/2012 - 12:55 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

Dutch Finance Minister Urges Germany to Remain Strict on Greece

http://mninews.deutsche-boerse.com/node/513841

Thu, 08/23/2012 - 12:59 | Link to Comment TruthInSunshine
TruthInSunshine's picture

The pic of the muy caliente chick is really a cheap, clickbait trick, and beneath the usual standards of ZH.

That's the reason I clicked on this headline; I just wanted to express my opinion.

Thu, 08/23/2012 - 13:02 | Link to Comment Dalago
Dalago's picture

Ty Dur - Random model of the day and how she relates to finance is a splendid idea.  Good work, T man.

Thu, 08/23/2012 - 13:06 | Link to Comment Kitler
Kitler's picture

So that's what women look like when they aren't raised on a daily diet of high fructose corn syrup.

Things are looking up in Venezuela!

Thu, 08/23/2012 - 13:07 | Link to Comment malikai
malikai's picture

Also note Mexico's position in ELM. They won't be such a large exporter for very long.

Thu, 08/23/2012 - 13:11 | Link to Comment nope-1004
nope-1004's picture

chick is really a cheap, clickbait trick, and beneath the usual standards of ZH.

That's the reason I clicked on this headline

LMAO!  I come to ZH for the intellectual challenge it offers, but clicked this article because of the picture.  LOL.

 

Thu, 08/23/2012 - 13:13 | Link to Comment Dalago
Dalago's picture

She's showing her ''Oh" face.

Thu, 08/23/2012 - 13:20 | Link to Comment ChacoFunFact
ChacoFunFact's picture

She's not happy.

Thu, 08/23/2012 - 14:09 | Link to Comment Temporalist
Temporalist's picture

You wouldn't be happy either if you hadn't eaten in months and are all bones and sinew.

Thu, 08/23/2012 - 14:58 | Link to Comment economics9698
economics9698's picture

China dominates the motorcycle market in Venezuela and is gaining a lot of influence in the country. 

As for Chavez he is dying and is on his way out.  His opposition in the next election is a popular politician and in a fair election would win. 

Things will change soon, but I doubt the Venezuelan guys will want to give up the cheap Chinese motorcycles.

Thu, 08/23/2012 - 13:28 | Link to Comment TruthInSunshine
TruthInSunshine's picture

I have been just advised that referring to a woman in spanish as "muy caliente" means that she is horny, or alternatively, in heat.

That was not my intent.  As an ignorant American, I wasn't learned real good on other cultures and languages. So what I was trying to say was that the woman pictured is quite attractive

Now, let me try to set this straight en espanol, bitchez: 

Te quiero puta.
Thu, 08/23/2012 - 13:34 | Link to Comment malikai
malikai's picture

You just said "You want that bitch".

Thu, 08/23/2012 - 13:46 | Link to Comment SemperFord
SemperFord's picture

He is right, most women secretly love being talked to like that.

Thu, 08/23/2012 - 14:05 | Link to Comment Mountainview
Mountainview's picture

Are you a woman?

Thu, 08/23/2012 - 15:02 | Link to Comment mr_T
mr_T's picture

What we need is an oil wrestling match between her ...Miss USA & China and throw in Bernanke for a Stripes scene vibe..

.. winner takes all.

Thu, 08/23/2012 - 15:09 | Link to Comment SemperFord
SemperFord's picture

No, but I have only been with women...too many to count so that's how I know.

Thu, 08/23/2012 - 13:54 | Link to Comment ONO47
ONO47's picture

Who doesn't want that bitch, bitchez?

Thu, 08/23/2012 - 14:07 | Link to Comment OldE_Ant
OldE_Ant's picture

Just like the Greenspan briefcase or file folder barometer I think we should have the zerohedge perky marketitometer. 

If it's tits up then market is down(for some action), if it's tits down then market up(cause they have nothing better to look at).

Seems so obvious to me.   So someone start a marketitometer thread already!

End of Line

Thu, 08/23/2012 - 15:31 | Link to Comment Religion Explained
Religion Explained's picture

Technically, "I love you whore" is the best translation.  "I want you bitch" would be more like  "Te deseo perra".

Thu, 08/23/2012 - 17:21 | Link to Comment HarryM
HarryM's picture

There are worse ways to go than having her snap your neck with her thighs

Thu, 08/23/2012 - 14:28 | Link to Comment Whalley World
Whalley World's picture

I miss Robo, her photo's of hot chicks was always a welcome thing to view.

Thu, 08/23/2012 - 13:09 | Link to Comment Texas Ginslinger
Texas Ginslinger's picture

I didn't get past the photo.

Did I miss anything..??

Thu, 08/23/2012 - 13:21 | Link to Comment Sudden Debt
Sudden Debt's picture

Me to... I thought this was a article about upgrade parts that I could give to my wife.... you know... investing in the future...
because...
In a long enough timeline, everything drops to the ground....

Thu, 08/23/2012 - 15:09 | Link to Comment TIMBEEER
TIMBEEER's picture

You should visit us here on Mars, we only have 1/4th of the Earth gravity. You should see all those .. even 50 year old women here on the beach .. the tits are just bouncing around in slow motion. Man, this is a paradise!

As for you guys back on earth, sorry.

Thu, 08/23/2012 - 20:08 | Link to Comment StychoKiller
StychoKiller's picture

Oooh, you dog! :>D

Thu, 08/23/2012 - 13:31 | Link to Comment kaiserhoff
kaiserhoff's picture

God I miss the titties on ZH. 

Thu, 08/23/2012 - 14:11 | Link to Comment Muddy1
Muddy1's picture

Where did they go?  Were they banned?  As for this pic, Oh My!

Thu, 08/23/2012 - 14:45 | Link to Comment kaiserhoff
kaiserhoff's picture

I suspect it has something to do with all the spoiled twelve year olds, but a little full disclosure would be nice;)

Remind me again about this "home of the free and the brave" thingy.

Thu, 08/23/2012 - 22:56 | Link to Comment Angry of Hawthorn
Angry of Hawthorn's picture

Ha ha. Classic!

In answer to your question, I'm not sure!

Thu, 08/23/2012 - 13:04 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

La chica es muy caliente

OR

muy caliente chica?

 

Bavarian finance minister urges excluding Greece from the eurozone by end of year

Berlin. Bavarian Minister of Finance Markus Söder has urged excluding Greece from the eurozone by the end of the year. According to him further financial aid for Athens would be a mistake.
“We should give an example with Greece that the eurozone can show its teeth,” Söder says in an interview with Bild am Sonntag.
According to the Bavarian finance minister the aid for Athens is flowing “like water in sand” and “the Greeks themselves” are to blame for Greece’s woes.

Thu, 08/23/2012 - 13:14 | Link to Comment vast-dom
vast-dom's picture

she's actually a he.

Thu, 08/23/2012 - 13:25 | Link to Comment Sudden Debt
Sudden Debt's picture

this reminds me of a batchelor party I organized for a friend of mine a few years back :)
We gave him 4 beautifull woman with which he could do whatever he wanted but, and we also told him that, there was 1 transvestite amonst them :)
We all really couldn't see it and only I knew which one :)
And than we started adding alcohol into the party.
Man that was fun!
And we never talked about it ever again! :)

Thu, 08/23/2012 - 14:35 | Link to Comment smiler03
smiler03's picture

Was he allowed to do the Crocodile Dundee test?

Thu, 08/23/2012 - 14:02 | Link to Comment ONO47
ONO47's picture

Ouch, that is not funny.

 

 

Thu, 08/23/2012 - 14:22 | Link to Comment Don Keot
Don Keot's picture

Reminds me of that movie "The Crying Game"

Thu, 08/23/2012 - 13:16 | Link to Comment SRVDisciple
SRVDisciple's picture

In totally unrelated news: "Engineer moving from Arizona to Venezuela"

Thu, 08/23/2012 - 13:25 | Link to Comment Sudden Debt
Sudden Debt's picture

they need waitors everywhere!

Thu, 08/23/2012 - 13:32 | Link to Comment midtowng
midtowng's picture

If their socialist health care system can turn out hot chicks like that, then I fully support it.

Thu, 08/23/2012 - 13:36 | Link to Comment Red Heeler
Red Heeler's picture

"The pic of the muy caliente chick is really a cheap, clickbait trick"

It's a click chick trick.

Thu, 08/23/2012 - 15:13 | Link to Comment TIMBEEER
TIMBEEER's picture

HEY! I clicked on the pic and it said I'm the 999999th visitor this month - and that I won a free iPad! WHEEEE! Got to register .. cya!

Thu, 08/23/2012 - 13:48 | Link to Comment Global Hunter
Global Hunter's picture

I had NO problem with the pic whatsoever

Thu, 08/23/2012 - 13:49 | Link to Comment SAT 800
SAT 800's picture

Actually a picture of the "six foot tall tranny of the week"; from Brazil.

Thu, 08/23/2012 - 19:13 | Link to Comment Buck Johnson
Buck Johnson's picture

I love that girl, give me more.

Fri, 08/24/2012 - 08:29 | Link to Comment Ar-Pharazôn
Ar-Pharazôn's picture

lol enjoying a nice young pussy is not really bad while reading serious articles

Thu, 08/23/2012 - 12:56 | Link to Comment fourchan
fourchan's picture

whos the chick? they can have the oil.

Thu, 08/23/2012 - 12:56 | Link to Comment The worst trader
The worst trader's picture

Never mind the oil, look at those cans! thnx Tyler. More pics please.

Thu, 08/23/2012 - 12:59 | Link to Comment Negro Primero
Thu, 08/23/2012 - 13:11 | Link to Comment FL_Conservative
FL_Conservative's picture

More like "barrels".

Thu, 08/23/2012 - 12:56 | Link to Comment reader2010
reader2010's picture

Warz, BitcheZ.

Thu, 08/23/2012 - 13:02 | Link to Comment Not Too Important
Not Too Important's picture

Not only is China becoming Venezuela's biggest customer, they are also dealing in each other's currency, bypassing the US dollar.

Yes, Washington screwed this up big time, and there's no going back.

US war with Venezuela? No. US war with its' own people? Yes.

Thu, 08/23/2012 - 13:07 | Link to Comment reader2010
reader2010's picture

Beijing has been fucking the Washington Consensus since 2006. Now the great war with China is completely unavoidable. 

Thu, 08/23/2012 - 13:37 | Link to Comment Red Heeler
Red Heeler's picture

"US war with Venezuela? No. US war with its' own people? Yes"

US war with Venezuela? Yes. US war with its' own people? Yes.

Thu, 08/23/2012 - 13:44 | Link to Comment pazmaker
pazmaker's picture

Do you have a link?   I know that China gave credit of $32 billion in dollars to Venezuela and Venezuela is paying back in oil.  Where did you see they are paying in Yuan?

Thu, 08/23/2012 - 17:46 | Link to Comment Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

Consider this (which I've mostly pilfered from Dr Joseph Farrell over at gizadeathstar.com): not only has larger Venezuela cozied up to China/Russia, but consider the actions of Ecuador in the last week with the Julian Assange case. This relatively small country has said F off to the US and Britain. They did not do so in a vacuum. Very likely received blessings not only from S.A. powers Brazil and Argentina, but Russia and China as well. This is not necessarily a show of the merits of Assange's position, but a direct political statement that the rest of the world has tired of the anglo-american elites' cartoonish efforts to keep the rest of the world under their thumb.

Back to Venezuela-- yes, it's embarrassing to the US when a supposed 3rd world country can provide better health care, not need IMF-based pillaging, and generally survive OK without Uncle Sam telling them what to do. Other countries are taking notice. The "cheap Chinese" pay better than the rich Gringo.

Bonus item on how the US is slipping, there was a Russian sub that spent a month cruising the caribbean/US area undetected. So much for that USA #1 meme...

Thu, 08/23/2012 - 20:56 | Link to Comment BigJim
BigJim's picture

How do we KNOW the sub went undetected for a month?

And how do we KNOW Assange won't have an 'accident' if he gets to Ecuador?

I've been reading around so much I realise it's almost impossible to KNOW anything that's going on right now... only when the classified documents are released in 30 years will you have any real idea of what happend (like Operation Ajax) and I wouldn't be surprised if they start doctoring even those before release.

Thu, 08/23/2012 - 14:16 | Link to Comment zerozulu
zerozulu's picture

I give Chavez 10 out of 10 for taking physical possession of his GOLD.

Thu, 08/23/2012 - 12:58 | Link to Comment legal eagle
legal eagle's picture

The photo, pumping reserves, seems to go together somehow.

Thu, 08/23/2012 - 13:00 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

A lot of Venezuela's oil is heavy sour crude, difficult to refine (H2S cracks many steels).  Maybe China has upgraded their refineries to deal with heay sour crude, The US Gulf Coast can refine their crude.

The author fails to note that oil is fungible.  We can just buy from someone else.  No problem.

Thu, 08/23/2012 - 13:08 | Link to Comment Negro Primero
Thu, 08/23/2012 - 13:28 | Link to Comment Sudden Debt
Sudden Debt's picture

And that's the entire point!
There is more than enough oil in the world!
5 times as much than we need actually, but refineries can only refine only 1 type of oil.

Thu, 08/23/2012 - 13:01 | Link to Comment lakecity55
lakecity55's picture

What does she have to do with oil? Why is there news about oil here while the rest of her pictures and contact information have disappeared?

Thu, 08/23/2012 - 13:08 | Link to Comment pazmaker
pazmaker's picture

Isn't silicon a derivitive of oil?   Her breast are filled with the stuff!

Thu, 08/23/2012 - 20:12 | Link to Comment StychoKiller
StychoKiller's picture

Silicon != Silicone

Silicon is for integrated circuits/semi-conductors.

Thu, 08/23/2012 - 13:22 | Link to Comment Gene Parmesan
Gene Parmesan's picture

"Reorients his country's [attention] to China" - well played.

Thu, 08/23/2012 - 13:02 | Link to Comment buzzsaw99
buzzsaw99's picture

viva chavez

Thu, 08/23/2012 - 13:03 | Link to Comment falak pema
falak pema's picture

no silicone, more flesh and curves. Is that the promise of the Orenoque poke? 

Chavez and Che on the same page; hey hey, Dilma where is Brazil in this samba race?

She has a big agenda with world cup and Olympics. Roll back the Monroe and invite in the MArilyn syndrome!

Cha cha cha, Che che che, olé. Caramba, we liberate Gitmo and make Castro the head cigarello of the Caribbean! 

Thu, 08/23/2012 - 13:04 | Link to Comment phat ho
phat ho's picture

super hot mama!!! oy... mui caliente

meanwhile, back in the ME...

 

 

Thu, 08/23/2012 - 13:04 | Link to Comment Bam_Man
Bam_Man's picture

"Coo-chee-coo-chee!"

Thu, 08/23/2012 - 13:04 | Link to Comment Meesohaawnee
Meesohaawnee's picture

now if you thought central bankers will destroy your net worth and capital...THERE (pic) !! is THE largest destroyer of a mans capital on earth.!! second is not even close.

Thu, 08/23/2012 - 13:21 | Link to Comment Juan Wild
Juan Wild's picture

now if I could only find a woman that looks like that and likes Spam I'll be a happy man.

Thu, 08/23/2012 - 13:07 | Link to Comment pazmaker
pazmaker's picture

About the only thing you got right is the picture.....This one really made me laugh> A joint Cuban-Venezuelan medical program, “Barrio Adentro,” has made health care free and accessible to all Venezuelans"

Free Healthcare...NOT..   sorry buddy but I have family down there and have first hand accounts of that free healthcare..it doesn't exist...oh maybe if you got a cold or a flu, but if your talking about quality care for a major illness it will cost you, I know,  my mother in law had a stroke and believe me, her care wasn't free.

The healthcare is so great down there that Chavez left the country to get treatment!

Thu, 08/23/2012 - 13:18 | Link to Comment Negro Primero
Negro Primero's picture

...he went to Cuba mi hemmmano!

escuálido, hehehe...

Thu, 08/23/2012 - 13:27 | Link to Comment pazmaker
pazmaker's picture

si yo se...y despues se fue a brasil...y despues se fue a los curanderos!

Thu, 08/23/2012 - 13:50 | Link to Comment Negro Primero
Negro Primero's picture

...ajà, pero mejor explìcale eso a los gringos, que mientras en el norte muchos lo adoran, en Venezuela en cambio muchos otros quieren que se vaya pal coño!

"Mission Impossible"

(ahora vas a ver como me caen a negativos, pero no importa, jejeje..)

Fri, 08/24/2012 - 02:53 | Link to Comment Verga Biendura
Verga Biendura's picture

esa hembra es tipica criolla. por eso me da el nombre.

Y Hugo se va pal conyo.

Thu, 08/23/2012 - 13:06 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Free clinics and state-of-the-art healthcare are awesome, except if 99% of the population has limited access to them. 

No roads.  NO ROADS. 

 

Thu, 08/23/2012 - 13:24 | Link to Comment spooz
spooz's picture

Sounds like those crazy socialists are training doctors in the villages.  What will they think of next?

http://peoplesworld.org/cuba-and-venezuela-shape-new-generation-of-revolutionary-doctors/

Thu, 08/23/2012 - 14:23 | Link to Comment drysafe
drysafe's picture

I have it on good authority and in fact, the government has no problem giving interest-free loans for things like breast surgery and other "necessary" procedures to women.

 

Thu, 08/23/2012 - 13:09 | Link to Comment DarthVaderMentor
DarthVaderMentor's picture

Too bad we gave up the Panama Canal. If any of those freighters and tanker went through there, we could have at least taxed them.....unfortunately we don't even own that anymore

Thu, 08/23/2012 - 13:20 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"cue: Gratuitous picture of Miss Venezuela"

Wowser.

<What's that honey? No dear, I'm not surfing porn. Just reading ZeroHedge......that's all.>

Thu, 08/23/2012 - 13:46 | Link to Comment Ying-Yang
Ying-Yang's picture

Yes Honey.... the articles are really interesting.

Thu, 08/23/2012 - 13:52 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

That's my story and I'm sticking to it.

Thu, 08/23/2012 - 13:14 | Link to Comment ZeroPoint
ZeroPoint's picture

Al-Queda in Venezula! WMDs in Caracas!

Thu, 08/23/2012 - 13:18 | Link to Comment dracos_ghost
dracos_ghost's picture

Actually, Sean Penn in Caracas is more than enough reason to strike.

Thu, 08/23/2012 - 14:54 | Link to Comment SoNH80
SoNH80's picture

No need to drag the Venezuelans into this because of him, but he definitely took one too many 'luudes in the early '80s I suspect....

Thu, 08/23/2012 - 13:15 | Link to Comment NEOSERF
NEOSERF's picture

Oil up and Miss Venezuela...like PB & J

Thu, 08/23/2012 - 13:15 | Link to Comment t0mmyBerg
t0mmyBerg's picture

If it wants to preserve its increasingly tenuous foothold in a nation with the world’s largest oil reserves, it might begin by engaging in some honest diplomacy.

Really?  Just send in troops.  Or wait to see how their relationship with China works out (fails) once China falls of its own accord. 

Thu, 08/23/2012 - 13:16 | Link to Comment Gimp
Gimp's picture

Got wood?   Who cares about oil....

Thu, 08/23/2012 - 13:20 | Link to Comment bugs_
bugs_'s picture

Hmmmm perhaps we should be making plans to invade Venezuela - or at least visit.

Thu, 08/23/2012 - 13:29 | Link to Comment Sudden Debt
Sudden Debt's picture

Operation Freedom V2.0....

Thu, 08/23/2012 - 20:15 | Link to Comment StychoKiller
StychoKiller's picture

Hmm, you work for the Secret Service, gringo?

Thu, 08/23/2012 - 13:21 | Link to Comment SoNH80
SoNH80's picture

Chavez is one of the most complex and contradictory figures on the world political scene today.  He wags his finger at the Big Gringo Menace, yet reliably sells heavier grade crude oil for Gulf Coast refineries, and Venez-refined heating oil for Northeast U.S. markets year after year.  He rails against Bourgeois Imperialism, yet needs investment capital and tech for his planned Orinoco Heavy Oil Belt projects from somewhere, and the Chinese and Russians don't have the tech, and have been sparing with the cash.  BTW Orinoco is the Big Enchilada of oil finds, billions of barrels of muy pesado molasses on which Venezuela's future rides. It could fuel the world until Star Trek times if they can figure out a way to extract and use it.  The French and American majors were interested until Chavez' rhetoric heated up, and he needs them back to make a go of it. Another irony-- how many Berkeley moonbats in love with Chavez know that he's keen on developing-- gulp-- High Sulfur Heavy Oil supplies??  Not green, dude.  Meantime, Caracas is like a nighmare vision of Orlando, miserable black slums, paranoid rich old people in gated communities, endless traffic, broiling heat, fear and loathing in the tropics. Some crumbs make it to the slum dwellers, while the connected indulge in conspicuous consumption in plastic malls with dirty or semi-dirty money. He's no hero on a white horse, nor the Western Hemisphere's Pol Pot, just a flawed Latin American populist strongman trying to do things his way, but realizing that he must make compromises in every direction.

BTW, do you think a good Catholic boy like him actually prefers to hob nob with Dinner Jacket or some colorless Chinese Politburo drone?  He'd really want a nice cigar and cold one with the U.S. President, but on his terms, and there's the rub.  South of the Border, Uncle Sam wants lackeys, not independent-minded partners w/tons of machismo.  Chavez will pass away leaving a half-finished legacy of more questions than answers, joining the ranks of Peron, Kubitschek, Vargas.....

Thu, 08/23/2012 - 13:29 | Link to Comment Rollerball
Thu, 08/23/2012 - 14:18 | Link to Comment El Tuco
El Tuco's picture

South of the Border, Uncle Sam wants lackeys, not independent-minded partners w/tons of machismo.

 

As the first world lost it's colonies, it set off their gradual decline or at least aided their gradual decline. I don't think Spain, Portugal, France, England and the rest would be in the situation they are today if they still had their colonies....China on the other hand is an up and coming colonial power and not some has been. Africa, South America, and anyone else who wants to get away from the West and the slavery they have endured under the 1st world. How the tables are turning. America et al now enslave their own people because their are no more colonialists.

Thu, 08/23/2012 - 13:23 | Link to Comment Siegfried
Siegfried's picture

I read playboy zero hedge for articles.

Thu, 08/23/2012 - 13:26 | Link to Comment Bawneee Fwank
Bawneee Fwank's picture

There is alqeeedah in Venezuela...Send the drones in! 

We should occupy Venezuela and quadruple the cocaine exports...Its the "WAR ON TERROR" thing to do!

Thu, 08/23/2012 - 13:39 | Link to Comment Bawneee Fwank
Bawneee Fwank's picture
MEXICO CITY — Shortly after Mother's Day in the African city of Monrovia, Liberia, drug smugglers gathered to plan massive cocaine shipments across the Atlantic Ocean, according to a recently unsealed U.S. indictment.

One 4-ton shipment was coming on a jetliner. Another ton and a half would cross on a propeller plane, tons more by ship. The shipments were bound for Russia, Europe and Ghana, with some eventually going to New York. But they were all coming from one place: Venezuela.

http://www.usatoday.com/news/world/2010-07-21-venezueladrugs21_ST_N.htm

Thu, 08/23/2012 - 14:21 | Link to Comment El Tuco
El Tuco's picture

Yeah the CIA has a distributiion hub there in Venezuela. Go Amerika!!!!

Thu, 08/23/2012 - 13:30 | Link to Comment El_Puerco
El_Puerco's picture

I have a Riddler challenge for you people!..:

 

Who said and when:

 

 "America for Americans" .....

 

Saludos...

Thu, 08/23/2012 - 13:48 | Link to Comment Mr Kurtz
Mr Kurtz's picture

I'm guessing nativist and all around swell guy William Poole aka "Bill the Butcher".

Thu, 08/23/2012 - 14:12 | Link to Comment Oldrepublic
Oldrepublic's picture

was the phrase in English or Spanish?

Thu, 08/23/2012 - 13:33 | Link to Comment supermaxedout
supermaxedout's picture

I wonder were is the difference between Lybia and Venezuela. Both countries nationalized its oil industry and kicked Big Oil out. Gadaffi at the beginning of his reign even managed to kick out the US bases in Lybia including a rocket test range in the sahara.

Things were clearly up for Lybia before the US intervention. The population in Lybia had the best time ever during the last five years under Gadaffi. Construction boom, new hospitals state of the art complete with everything even nurses and doctors. Everything provided by Siemens Healthcare including the building.  Students from Lybia which wanted to study in Europe , many in Italy but also in Germany. They received the money for their their student flat plus 1.000 Euros cash money every month from Gaddafi.   And now this is all gone. bombed kaputt.  My opinion Venezuela is in the same danger. The US will destroy this country just like Lybia.

 

Thu, 08/23/2012 - 21:03 | Link to Comment BigJim
BigJim's picture

Hey, who wants prosperity under a dictator? Give me poverty and the right to vote for a puppet of someone else's choice any day!

Thu, 08/23/2012 - 13:33 | Link to Comment Oldrepublic
Oldrepublic's picture

Chavez has his faults but who could not admire a guy who said:

"The devil came here yesterday,"  "It still smells of sulphur today," Chavez said at the UN in 2006 in regard to Bush

Thu, 08/23/2012 - 14:21 | Link to Comment Negro Primero
Negro Primero's picture

..and:  "Bush, Mr. Danger you are a Donkey, Killer, Borracho, Cobarde, etc.etc..."

http://www.youtube.com/watch?v=NYYQT21p7l8



Thu, 08/23/2012 - 13:38 | Link to Comment Element
Element's picture

 

 

So, where does Washington go from here? If it wants to preserve its increasingly tenuous foothold in a nation with the world’s largest oil reserves, it might begin by engaging in some honest diplomacy.

 

You know the schtick, false accusations that are repeated ad-infinitum, false-flag terrorism and rumors of WMDs aimed at Tampa, then a massive bombardment to hose down the baddies, a regime change or three, and then the occupational politics of:

(1)  "Power doesn't like a vacuum"

(2)  "If you break it you own it"

(3)  "What the fuck were you brown bastards doing with our oil anyway?"

(4)  "Oh, you mofo's stole our cocaine too?"

Thu, 08/23/2012 - 13:36 | Link to Comment youngman
youngman's picture

Don´t believe anything he comes out with..its election year down there too.....Yeah his great health care where HE goes to CUBA to be treated with USA drugs.....he needs the Chinese engineers to rebuild his oil fields.....as his buddies who he put in charge just stole the money...didn´t know anything about oil and oil fields....so the Chinese will rebuild them...and use them....as they buy up the worlds commodities....and they do not like it if you Nationalize them....they will make you pay for that.....Chinese bery bery angry...as we print paper money upon paper money...

Thu, 08/23/2012 - 14:45 | Link to Comment smiler03
smiler03's picture

 ."HE goes to CUBA to be treated with USA drugs"

 

Am I missing something? Didn't those American pharmaceutical companies make drugs for profit?

Thu, 08/23/2012 - 15:27 | Link to Comment Winston of Oceania
Winston of Oceania's picture

"Am I missing something? "

Why yes Sir I would say that you missed the point entirely. If HC is so good in Venezuela why must he go to Cuba? Beyond that he adds that the drugs are manufactured in a supposedly non-socialist State...

Thu, 08/23/2012 - 13:42 | Link to Comment Mr Kurtz
Mr Kurtz's picture

Washington is "looking" north. The Keystone XL pipeline. 170 billion barrels of Canadian tar sand oil reserves for the taking. Currently producing 1.6 million barrles daily with potential of up to 5 million barrels daily.

Downside: Refining that dirty oil comes with a pricetag. Projected global warming upwards to 11 degrees above current averages by 2100 if 5 million barrel a day potential is met. But hey, at least at ain't "terrorist oil"(sarc).

http://www.esquire.com/features/keystone-0912

Thu, 08/23/2012 - 13:47 | Link to Comment Miss Expectations
Miss Expectations's picture

Everything's ok...

USDA just gave $99,000,000 to North Carolina so they could spray pig shit onto 30,000 acres and grow grass that can be turned into Ethanol.

Good times.

http://www.starnewsonline.com/article/20120822/ARTICLES/120829869/1002?T...

Thu, 08/23/2012 - 13:50 | Link to Comment pazmaker
pazmaker's picture

Do you live out that way?   I've been out to eastern NC by some of the bigger pig farm operations and the smell is absolutely disgusting!!

 

That is going to be one nasty operation!

Thu, 08/23/2012 - 14:38 | Link to Comment exi1ed0ne
exi1ed0ne's picture

"Pig shit. The lights, the motors, the vehicles, all run by a high-powered gas called methane. And methane cometh from pig shit."
The Collector, Mad Max

Why for all that is wholesome are we spraying this on a field to grow grass, to feed into a digester, to turn into ethanol, burning tons of liquid fuels along the way. Someone turned stupid all the way to 11.

Thu, 08/23/2012 - 14:50 | Link to Comment SoNH80
SoNH80's picture

The Laws of Thermodynamics are, like, so uncool dude.

Why, University of Vermont Eco-Sustainability Scientological Womyn have built a jet liner that runs on cat piss, patchouli oil, hot flashes, and burning resentment.

Thu, 08/23/2012 - 17:17 | Link to Comment roadhazard
roadhazard's picture

"Who runs Barter Town." ~ Master Blaster

Thu, 08/23/2012 - 13:43 | Link to Comment Spaceman Spiff
Spaceman Spiff's picture

Tyler finally figured out how to get the sec's attention. Now get the large bikini pics to the hft threads.

Thu, 08/23/2012 - 13:44 | Link to Comment El_Puerco
El_Puerco's picture

Correction: China is "looking" north. The Keystone Xl pipeline. 

 

Saludos...

Thu, 08/23/2012 - 17:22 | Link to Comment roadhazard
roadhazard's picture

I doubt China will end up with Our Oil in canada. The pipeline will be built starting Jan. 20th whoever is President. Big Oil want$ that middle man oil  $$$$$ as it $lide$ out the Gulf. That oil ain't for Americans.

Thu, 08/23/2012 - 13:45 | Link to Comment Red Heeler
Red Heeler's picture

Our government is not only corrupt; they're also a bunch of imbeciles if they couldn't see this coming.

You know your government's stupid when for them the law of unintended consequences includes the blatantly obvious.

Thu, 08/23/2012 - 13:45 | Link to Comment markar
markar's picture

I thought everyone knew after oil, beauty pageant queens were Venezuela's second biggest export

Thu, 08/23/2012 - 13:58 | Link to Comment EmileLargo
EmileLargo's picture

A friend of mine who is in the oil business has been to Venezuela many times. He said it is the most mentally disorientating country he has ever been to. The country has the world's biggest oil reserves (so should be AT LEAST as rich per capita as Saudi Arabia if not Norway), has some stunning beaches and some of the most outrageously sexy and beautiful women he has ever seen. AND YET, the country is a basket case run by a genius of a demagogue (who also happens to be an economic imbecile) and the capital is one of the most crime ridden and dangerous cities on earth. I would not recommend a visit to Caracas any time soon. 

Thu, 08/23/2012 - 14:00 | Link to Comment dark pools of soros
dark pools of soros's picture

Who's running China's banks? This will just be a slow transfer to the next superpower. Same rats behind the scenes. They'll continue to fleece America as they set up shop in China. Perhaps they stage a war between the two for a proper official torch passing

Thu, 08/23/2012 - 14:02 | Link to Comment q99x2
q99x2's picture

A young camel toe on the left and a Venezualian snapper smack in the middle. My screen is about to have an accident.

Thu, 08/23/2012 - 14:04 | Link to Comment Spastica Rex
Spastica Rex's picture

Kinda looks like a post-op transexual, if you ask me. To each its own.

Thu, 08/23/2012 - 14:20 | Link to Comment akak
akak's picture

My compliments to the doctor, then.

Thu, 08/23/2012 - 17:26 | Link to Comment roadhazard
roadhazard's picture

I've always encouraged any women that want to enhance their appearance for the good of mankind to by all means do so..

Thu, 08/23/2012 - 14:12 | Link to Comment WarPony
WarPony's picture

China has never cozied up to being part of the NWO - they want it all.  Remember the Opium Wars!

Thu, 08/23/2012 - 14:31 | Link to Comment dark pools of soros
dark pools of soros's picture

That's the storyline but same puppet masters pulling the usury strings

Thu, 08/23/2012 - 14:37 | Link to Comment WarPony
WarPony's picture

Perhaps that's where the gold hoard comes in - and, like Hitler, bite the hand that feeds?

Thu, 08/23/2012 - 14:17 | Link to Comment OldE_Ant
OldE_Ant's picture

Hey can't we have two things on the same plate?

I say oil the PUNTA up!

I want my slip and slide NOW!

End of Line

Thu, 08/23/2012 - 14:29 | Link to Comment Joe A
Joe A's picture

Socialism works great when you can spend somebody else's money or if you have big oil reserves (and therefore spend someone else's money). Let gasoline prices go to 10 dollars a gallon or more. The sooner alternatives get of the ground. Welll, I hope.

Thu, 08/23/2012 - 19:00 | Link to Comment AurorusBorealus
AurorusBorealus's picture

Whose money is being spent by the Venezuelan government deriving revenue to finance healthcare from oil?  Why is this oil, which is under the nation or in the sea, someone's property and not the commons?  There has always been property held in commons.  Sure there is the tragedy of the commons, where all exploit and none produce, but in this case, the commons is a resource to be exploited.   It sure seems to me that if that state had certain endeavors: energy and utilities, with which to fund itself and provide for its socialist programs, this is a far better way in which to finance government than printing money or taxing labor.  Don't you think so?

Thu, 08/23/2012 - 14:54 | Link to Comment Hannibal
Hannibal's picture

"an emphasis shift...?" Hardly, more like a paradigm shift.

US idiot "policy makers" better pull some beans out of their asses and get real. Screw eurasia and the middle east, pull our troops out of that hell and shit hole and focus on the home front the Western Hemisphere from Alaska to Chile's tierra del fuego.

"One gets more accomplished with honey than with vinager."

Thu, 08/23/2012 - 15:02 | Link to Comment tweake
tweake's picture

Pointless article.  Venezualan crude is being supplanted by new domestic shale production and the latest on the ground (US) estimates of  "resources" are estimated to exceed 80-100 billion barrels.

Plus I believe most of the Venezualan > US exports are to feed their stranded asset Citgo; not likely to be cut off under any circumstances.

Thu, 08/23/2012 - 15:10 | Link to Comment Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Very light reading T. D.  So light one could read it with one hand.

Tuco

Thu, 08/23/2012 - 15:17 | Link to Comment MeBizarro
MeBizarro's picture

Estimates of shale oil in the US are greatly overinflated by US energy producers and Venezuelan oil imports to the US have remained stable.  What has increased notably the last few months again is Saudi imports (up over 20% since last year) and what is in long-term decline is Mexican supply to the US. 

Thu, 08/23/2012 - 15:12 | Link to Comment MeBizarro
MeBizarro's picture

This was a cr@p article on several issues.  Primary reason Venezuela is shipping a lot more oil to China is because that is where demand is really growing.  Also a ton of other important issues that are missed on the current state of Venezuelan finance, politics, and investment abroad along with overall political trends in Latin America and US oil supplies. 

Thu, 08/23/2012 - 15:27 | Link to Comment MeBizarro
MeBizarro's picture

As for Venezuelan women, they have one of the highest rates (if not the highest rate of a larger country) in plastic surgery. 

It is also a country where the model/fashion agencies scout heavily because of the huge infusion of Europeans into the country especially Spaniards, Italians, Germans, and Portuguese and the predominance of fair-skin/lighter-skinned models.  Same thing with Rio Grande do Sul in Brazil which is overwhelmingly white.  Wouldn't even think you are in Brazil.  I was shocked the first time I went there from Rio. 

Thu, 08/23/2012 - 15:27 | Link to Comment bilejones
bilejones's picture

The other shift that's gone largely un-noticed is how they've pretty much got out from under the IMF across the entire continent.

Thu, 08/23/2012 - 15:34 | Link to Comment MeBizarro
MeBizarro's picture

Yup.  That is much, much more important because the IMF was basically something that followed US foreign policy in the 20th century.  No longer nearly has the same toehold nor are as many South American currencies pegged to the dollar either. 

Thu, 08/23/2012 - 15:47 | Link to Comment americanspirit
americanspirit's picture

This is actually the graphic for a new ad campaign promoting Venezuelan petroleum-based lubricants. Muy suave. Te quiere algo?

Thu, 08/23/2012 - 16:40 | Link to Comment ReligiousAtheist1
ReligiousAtheist1's picture

I guess its a sign of the ever changing times

Thu, 08/23/2012 - 17:05 | Link to Comment Real Estate Geek
Real Estate Geek's picture

Reserves larger than KSA?  Hugo better get some air raid sirens installed; they'll come in real handy soon.

Hugo should also thank God that Shrub had such a hard-on to bomb Iraq.  That's the only reason Venezuela was moved down "the list."

Thu, 08/23/2012 - 17:13 | Link to Comment roadhazard
roadhazard's picture

Can you imagine the the red cheeked, screaming repubicans jumping up and down if Obama tried to do a deal with the socialist/commie Chavez, lol.  Now if O'romney did you would not hear a peep. Right wingers crack me up.

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