Novus America wrote:Puertollano wrote:
Failed? Saudi Arabia and (some) members of OPEC colluding to drop the prices by 60% is failed?
https://www.mepc.org/speeches/saudi-ara ... e-collapse
If we're speaking 'practically', then you should admit the U.S. sanctions are preventing the entering of food and medicine into the country.
https://www.ohchr.org/en/NewsEvents/Pag ... 1&LangID=E
Read your own source,
“Saudi Arabia is used to being blamed when prices seem too high. Now it's being blamed for prices being too low. But the Kingdom had nothing to do with either the increase in supply or the recession-induced decrease in demand for oil. Nor did it bring about the collapse in prices. But its position as the world's swing supplier gives it uncommon influence on expectations. And, as Riyadh saw it, the rapidly falling prices for oil confronted it with some stark choices.”
Besides the oil prices are cyclical. Everyone (except apparently the Chavistas) know this.
They go up and down. Oil is cyclical and capital intensive.
Meaning when prices are high you have to save for when they drop again.
Meaning a successful petro state must practice careful fiscal management.
If they fail to practice careful fiscal management that is their fault, not the oil’s fault.
The US simply is no longer buying Venezuelan oil. Which we have no obligation to buy. Why should we buy their oil?
We are offering them food and medicine but the government refuses to take it.
Clearly the government is to blame.
No, obviously you didn't read it entirely:
"It is clearly smarter to eliminate current and future competition and assure future market share than to help competitors remain profitable at the expense of Saudi and other Arab oil producers’ patrimony and well-being in the decades to come. There are many reasons for this."
"In sum, the Kingdom’s stance in OPEC and policies on oil pricing constrain future supply growth, inhibit the development of alternatives to oil, and preserve market share for it and other low-cost oil producers. Riyadh has reminded the world and the region of its power, demonstrated its independence, and served its geopolitical interests. It can afford to stick with its strategy and policies until investors in countries producing more expensive oil have been forced out of the market. In time, oil prices will rise, plussing up the Kingdom’s revenue stream. From the Saudi point of view, all this makes sense even without the geopolitical bonuses it brings. The new king, his crown prince, and the crown prince's heir apparent all participated in formulating current policies. There is no reason to expect them to alter their calculus about what's in the Kingdom's interest anytime soon."
Yes, so am I to believe Elliot Abrams is being kind-hearted when he force feeds Venezuela with his trucks at the border? After he smuggled in weapons to Central America through the guise of 'humanitarian aid'? Venezuela is accepting aid, and accepting it through the proper means. The U.S. shouldn't politicize aid at the border and rather do it through the Red Cross and the UN. What was in the trucks was pathetic to the amount of food and medication prevented from entering Venezuela by the SANCTIONS. That's why it was a cynical photo-shoot.