U.S. oil giant Chevron confirms it will expand operations in Venezuelahttps://www.pbs.org/newshour/amp/world/u-s-oil-giant-chevron-confirms-it-will-expand-operations-in-venezuela
>>541900157This type of stuff would be cool if it actually improved the general public's life. But we know all the benefits go to the mega corpos and guys at the top. It'll never come back to us in the form of lower gas prices for example. We just fucked over another nation to make our rich richer.
>>541900157Chevron — the sole US major already producing there, at nearly 250,000 b/d under a special license — says it could raise flows about 50% in under two years, but even that lifts Venezuela’s total only to just above 1.1 million b/d, against a peak near 4 million. Smaller entrants like Hunt Oil and SLB signed the first fresh PDVSA deals in August, but the supermajors best equipped to finance a rebuild are, on the record, declining to write the checks. When the people holding the capital call a resource uninvestable, it is not a near-term supply solution.
