Washington, D.C.—Karen Harbert, president and CEO of the U.S. Chamber’s (click here) Institute for 21st Century Energy, today applauded the U.S. House of Representatives for voting to include an amendment offered by Representative Joe Barton that will lift the ban on oil exports as part of H.R. 8, the North American Energy Security and Infrastructure Act of 2016. "Once again, the House of Representatives has recognized that a policy framework in which Iran can export oil but America can't makes no sense and must change. Bringing U.S. oil to global markets will act as a stabilizing force and provide our allies with alternatives to importing oil from less-friendly nations for the energy they need.” "The Senate must now take action to strengthen our security and create American jobs by taking up and passing legislation to end the ban on crude oil exports this year."...
Currently, the USA has exported 1,515,000 barrels (click here) of oil. That is the highest ever and it occurred in 2017.
February 6, 2018
Venezuela’s crude sales to the United States, (click here) an ideological foe that remains one of its most important oil customers, were up 21 percent in January compared to December but sharply below year-earlier levels, according to Thomson Reuters Trade Flows data.
The South American OPEC nation’s production decline has contributed to a severe economic recession and political turmoil. The United States remains a critical market because most U.S. buyers pay cash for the oil amid financial sanctions imposed in August on Venezuela by President Donald Trump’s administration.
U.S. Secretary of State Rex Tillerson this week raised the prospect of broader sanctions, including halting U.S. imports of Venezuelan crude and barring the sale of U.S. refined products to the nation. However, Tillerson said he was concerned about the impact such measures would have on citizens already suffering from severe shortages of food and medicine....
There was a time when Venezuela donated millions of gallons of hearing oil to the USA. That was while Chavez was still alive and President of Venezuela.
By donating millions of gallons of heating oil, (click here) CITGO and its shareholder, Petróleos de Venezuela S.A. (PDVSA), have helped more than 1.8 million people keep warm since 2005.
Program Has Helped More Than 1.7 Million People Since Its Inception (click here)
Those donations continued until the winter of 2017, when struggles within Venezuela caused an end to the shipments of free oil to low income and poor Americans.
The Bolivarian Republic of Venezuela (click here) lies along South America’s Caribbean Coast. It is bordered by Brazil, Colombia and Guyana. The country covers an area of around 916 thousand square kilometres, excluding the Esequibo area, and has a population of around 31 million. Around four million people live in the capital, Caracas, and Spanish is the country’s official language.
Venezuela’s oil revenues account for about 95 per cent of export earnings. The oil and gas sector is around 25 per cent of gross domestic product. Apart from petroleum, the country’s natural resources include natural gas, iron ore, gold, bauxite, diamonds and other minerals. The national currency is the bolivar.
HE Nicolás Maduro Moros is the President of the Bolivarian Republic of Venezuela and the country is a Founder Member of OPEC....
Columbia is just west of Venezuela. It has taken decades to end violence in Colombia. DECADES. Now, without weighing all the consequences President Trump wants to end the imports of oil from Venezuela.
Venezuelans (click here) are pouring in to flee the humanitarian disaster in their home country.
Colombia was already dealing with corruption scandals, record cocaine production, proposed cuts in American aid, oil headaches and a costly peace agreement to end a 50-year civil war....
Columbia is staggering under the weight of Venezuela's refugees. The economy of Columbia has taken a turn for the worse and has lost ground economically and with it's credit standing.
...Another blow came in December, when Standard & Poor's cut Colombia's credit rating to one level above junk status. And a presidential election is coming in May.
The Colombian economy grew just 1.8% last year, the slowest pace since the global financial crisis a decade ago. In 2011, it was booming at 6%.
"It's certainly not the star that it was four or five years ago," says Richard Francis, director of Latin America sovereign debt at Fitch Ratings....
Any changes to Venezuela's economy has to include the OPEC members and their interest in the country. Basically, the USA should not be making unilateral decisions, so much as bringing countries to the table and the United Nations is the best place to do that. I am certain humanitarian aid can be assessed and the best path forward to stabilize the country and bring people together to solve their problems.
March 1, 2018
By Angelina Rascouet and Wael Mahdi
...Venezuela’s (click here) output dropped by 30,000 barrels a day to 1.68 million barrels. The Latin American nation is a big part of the reason for OPEC’s stellar implementation of promises to curb production. Its industry is suffering from a lack of investment and looming U.S. sanctions, sending output last year to the lowest since the 1980s....
When one thinks about changing economic status of a country, the entire region has to be weighed to the impact that will have and the OUTCOMES of all involved.
BEFORE TRUMP lowers the hammer on Venezuela he needs to consider the instability that already exists, the potential return of radical groups to Columbia as the people begin to suffer more and the entire instability of the region north of Columbia that already sends children to the USA southern border because of the violence of drug cartels and the routes that pass through them.
The USA has not invested in the stability of South America, including tourism and the protections of vital rainforests. Of course, rainforests is a dirty word in Washington, DC these days, but, they bring in income to these countries. Consider also that Brazil is a BRIC country that is supposed to be stabilizing and entering into global relationships to increase it's credit rating and status.
To remove 25 percent of Venezuela's GDP because Trump thinks it is a good idea, is actually a lousy idea that will cause greater hardship among the people in northern South America, including a greater instability in Columbia.
ENOUGH.
Venezuela needs humanitarian relief and Columbia needs help with the refugees. FIRST stabilize the movement of people into Columbia and not by killing them at the border, but, by providing food and the ability to have clean water when treated with chlorine.
While that is occurring, the Venezuela government needs to meet with regional leaders to begin a plan that will stabilize the country, return people from being refugees and begin a road back to a quality of life Venezuelan's have lived before. All the political leaders have to be considered in a movement to stabilize the government, country and it's place in the region.
Cutting off Venezuelan oil exports for the sake of DOING SOMETHING is ridiculous. There cannot be more and more problems in Venezuela, there needs to be less and the USA needs to work with Columbia to find a way to end the suffering of so many.
Columbia is just west of Venezuela. It has taken decades to end violence in Colombia. DECADES. Now, without weighing all the consequences President Trump wants to end the imports of oil from Venezuela.Venezuelans (click here) are pouring in to flee the humanitarian disaster in their home country.
Colombia was already dealing with corruption scandals, record cocaine production, proposed cuts in American aid, oil headaches and a costly peace agreement to end a 50-year civil war....
Columbia is staggering under the weight of Venezuela's refugees. The economy of Columbia has taken a turn for the worse and has lost ground economically and with it's credit standing.
...Another blow came in December, when Standard & Poor's cut Colombia's credit rating to one level above junk status. And a presidential election is coming in May.
The Colombian economy grew just 1.8% last year, the slowest pace since the global financial crisis a decade ago. In 2011, it was booming at 6%.
"It's certainly not the star that it was four or five years ago," says Richard Francis, director of Latin America sovereign debt at Fitch Ratings....
Any changes to Venezuela's economy has to include the OPEC members and their interest in the country. Basically, the USA should not be making unilateral decisions, so much as bringing countries to the table and the United Nations is the best place to do that. I am certain humanitarian aid can be assessed and the best path forward to stabilize the country and bring people together to solve their problems.
By Angelina Rascouet and Wael Mahdi
...Venezuela’s (click here) output dropped by 30,000 barrels a day to 1.68 million barrels. The Latin American nation is a big part of the reason for OPEC’s stellar implementation of promises to curb production. Its industry is suffering from a lack of investment and looming U.S. sanctions, sending output last year to the lowest since the 1980s....
When one thinks about changing economic status of a country, the entire region has to be weighed to the impact that will have and the OUTCOMES of all involved.
BEFORE TRUMP lowers the hammer on Venezuela he needs to consider the instability that already exists, the potential return of radical groups to Columbia as the people begin to suffer more and the entire instability of the region north of Columbia that already sends children to the USA southern border because of the violence of drug cartels and the routes that pass through them.
The USA has not invested in the stability of South America, including tourism and the protections of vital rainforests. Of course, rainforests is a dirty word in Washington, DC these days, but, they bring in income to these countries. Consider also that Brazil is a BRIC country that is supposed to be stabilizing and entering into global relationships to increase it's credit rating and status.
To remove 25 percent of Venezuela's GDP because Trump thinks it is a good idea, is actually a lousy idea that will cause greater hardship among the people in northern South America, including a greater instability in Columbia.
ENOUGH.
Venezuela needs humanitarian relief and Columbia needs help with the refugees. FIRST stabilize the movement of people into Columbia and not by killing them at the border, but, by providing food and the ability to have clean water when treated with chlorine.
While that is occurring, the Venezuela government needs to meet with regional leaders to begin a plan that will stabilize the country, return people from being refugees and begin a road back to a quality of life Venezuelan's have lived before. All the political leaders have to be considered in a movement to stabilize the government, country and it's place in the region.
Cutting off Venezuelan oil exports for the sake of DOING SOMETHING is ridiculous. There cannot be more and more problems in Venezuela, there needs to be less and the USA needs to work with Columbia to find a way to end the suffering of so many.
