Comments by "toomanyaccounts" (@toomanyaccounts) on "Venezuelan Oil Production Falls Off a Cliff" video.

  1. the predication were made based on known accessible deposits and the amount being used. FYI logging companies didn't used to replant. They outright refused to do so for a very long time since they said it would cost them to much money. also plenty of companies have gone bust because they didn't long term plan. china has to build new coal power plants that use far less coal because they are running out of it in china plus all the smog. even the Saudis are heavily investing in solar power because they predict that they will run out of easy to get oil and would need new revenue sources. Btw the number of oil field discoveries has been on a constant downward trend with the amount declining year after year. A lot of the oil Styx talked about one cannot actually extract due to it being in shale or so hard and expensive to get to gasoline would have to get 100 dollars a gallon to even consider it and old tires would be recycled for their oil before then.
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  2. they have more then one refinery. Paraguaná Refinery Complex is the third largest refinery complex in the world and prior to Chavez firing 18k workers that worked there and putting his cronies in, the complex refined a million barrels a day. Now it is a quarter of that and declining every day due to lack of parts, trained personal and lack of crude to refine. Note this is where Venezula used to get 71% of their oil refinery done and now the country is looking at shutting down three out of the four refineries it operates. You are likely thinking of Curacao which had a refinery used by Venezula . https://www.cnbc.com/2018/05/14/conoco-has-seized-venezuela-pdvsa-products-from-isla-refinery-curacao.html the seizure was not due to debts but the criminal actions of chavez seizing foreign company assets to enrich him and his cronies.
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