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EIA’s Contradictory Oil And Gas Predictions For 2017

EIA’s Contradictory Oil And Gas Predictions For 2017

The recent drilling productivity report…

Venezuela Declares State of Emergency, Orders Factory Seizures

Venezuelan Army

Blaming what he called a US-backed plot to undermine his authority, Venezuelan President Nicolas Maduro has decreed a 60-day state of emergency and ordered the state seizure of factories in a bid to halt a crisis that threatens mass unrest.

Apart from orders to nationalize factories, Maduro has also called on the Army to ready for national military drills this week “to prepare ourselves for any scenario”.

Maduro also urged “all actions to recover the production apparatus, which is being paralyzed by the bourgeoisie,” adding that factory owners who “sabotage the country” by halting production at their plants risk being “put in handcuffs.”

Related: Saudi Arabia Loses Top Credit Rating from Moody’s

His message is seemingly aimed at Empresas Polar, the country’s largest food and drink distributor, which ceased production in the last of its four beer plants in April after citing shortages of imported supplies.

Maduro’s latest moves come as the country grapples with food and power shortages, runaway inflation, protests and political uncertainty, which may be the setting of a popular revolt.

The state of emergency aims to curb any right to demonstrate against the government, while allowing police to arrest without a warrant and hold raids.

Related: Does Tesla Care About Its Stock Price?

The opposition forces, which now control the country’s national assembly, reacted furiously. “We’re talking about a desperate president who is putting himself on the margin of legality and constitutionality. If this state of emergency is issued without consulting the National Assembly, we would technically be talking about a self-coup,” they said, also warning of the risk of a “social explosion”.

Venezuela’s economy, which heavily relies on oil exports representing 95 percent of the country’s revenues, was severely affected by the slump in oil prices. Last year, the economy shrank by 6 percent while inflation is projected to rise to as much as 720 percent this year.

By James Burgess of Oilprice.com

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  • kenneth ferrell on June 13 2016 said:
    nothing like doubling down on failed policies,hooray for socialism,right hillary,obama?
  • danny Staggers on June 13 2016 said:
    The state of emergency aims to curb any right to demonstrate against the government, while allowing police to arrest without a warrant and hold raids."

    Gosh, what country does that sound like?
  • Les Toolish on June 10 2016 said:
    This is precisely what Chavez and Maduro should have done a long time ago. The decadent oligarchs in this country have been working hand in hand with the CIA to destroy the economy in a bid to overthrow the democratically-elected government here since the first Chavez administration. They should have taken back the federally-funded media and the factories the decadent greed elites were using to starve the people the second the userer bastards started to use them to undermine the interests of the 99%. And thus should it be everywhere. The only problem "socialism" is responsible for here is being too damned lenient. The non-socialist greed elites--"capitalists", if you will--caused ALL of the pain and suffering here. May they all go to hell.
  • Sammie on June 09 2016 said:
    I wonder how all those people who moved to Venuzuela from the US, on that HGTV House Hunters International, are like their choice now? lol
  • Micah on June 08 2016 said:
    They voted for it, let the Morons rot. Never give up your guns
  • jmg09 on June 08 2016 said:
    Vote for Hillary! Cause...y'know. This time socialism's gonna work!
  • Bob the Judge on June 02 2016 said:
    WOW, those broads sure are fugly,no need for family planning with that bunch.
  • John Fembup on June 02 2016 said:
    Must be the factories' fault the economy is failing.

    The government is Venezuelas only hope. It's seizing the factories just in time.
  • Jess Sain on May 31 2016 said:
    How bad can your economy be if you have an army of hot chicks with AK's?
  • Jack Rail on May 23 2016 said:
    Venezuela's following Argentina in an up-and-down economic ride on the back of socialism, fascism & caudillo rule - all of which equal the same thing: Bloated govt, corruption out the yinyang, nothing works, nobody trusts anybody, social structure breaks down, hyperinflation, riots, on and on. Soon will come the firing squads, the desaparecidos, the descamisados, & ultimately the Cuban style crushing of the country.

    Watch closely, folks. The same is coming to America, sooner if Hillary gets in & a bit slower if Trump wins. Barack Obama once intoned at a nonpublicized, private event that "the common man is too small-minded to govern himself." This is the triumph of behind-the-scenes thuggery by billionaires who don't want to rub shoulders with you & me. We're "little people" and they're better than we.

    America, thy name is Venezuela is Cuba is Zimbabwe is North Korea.
  • empire sentry on May 23 2016 said:
    "Last year, the economy shrank by 6 percent while inflation is projected to rise to as much as 720 percent this year."
    So where did the rest of that future earned income go? The government can't even print anymore money because they owe the printers $17 million.

    China says this is the last time they are bailing them out.
    Headlines from Caracas newspaper yesterday:
    - Government to determine wage increases for Public Admin gov workers
    - Women shot to death after asking people to stay in line for food.
    - Military taking goats and livestock by force to feed themselves.
    - Mob driven by rumors of food overtake small store.

    @atheitis, you got it all wrong. You're a progressive. Progressives got run out of town in the 1930's. They renamed themselves and took the name Liberal from European liberals..who are actually conservatives.
    Your webster definition is a joke. Liberal Government has nothing to do with what you listed.

    Liberal gov means freedom for the gov over people.

    Conservative gov means limited government controlled by the people who have their freedoms. Local, community and state controls...not your central command from DC elites.
  • B. Samuel Davis on May 22 2016 said:
    And yet the Democratic media in this country will never acknowledge that this is socialism is action, and relate it to the Democratic Party - they support socialism so what is happening down south can't be mentioned.

    Of course the GOP Leadership is too spineless to say one word about it either.
  • Realitycheck on May 20 2016 said:
    "Venezuela’s economy, which heavily relies on oil exports representing 95 percent of the country’s revenues"

    Why dont we put all our eggs in one basket. What could possibly go wrong?

    And the economic Darwin Award goes to ........
  • Martin Lewis on May 20 2016 said:
  • jim wolf on May 20 2016 said:
    Now all they have to do is go find John Galt and try to torture him into running the country.
  • Daniel Mcgarity on May 20 2016 said:
    Coming to democrat America
  • atheitis on May 20 2016 said:
    Do Americans not understand the difference between the words "liberal", "socialist", "communist" and "left wing"?

    Let's start with the word "liberal".

    Liberal adj

    a. Not limited to or by established, traditional, orthodox, or authoritarian attitudes, views, or dogmas; free from bigotry.
    b. Favouring proposals for reform, open to new ideas for progress, and tolerant of the ideas and behaviour of others; broad-minded.
    c. Of, relating to, or characteristic of liberalism.
    d. Liberal Of, designating, or characteristic of a political party founded on or associated with principles of social and political liberalism, especially in Great Britain, Canada, and the United States.

    I am proud to be associated with that definition. I assume you and your fellow travellers consider yourselves opposed to those principles.

    So here are the antonyms for liberal -

    "intolerant, limited, narrow, specific, conservative, economical, greedy, lacking, mean, narrow-minded, poor, thrifty, ungenerous, wanting
  • Joe Schmoe on May 19 2016 said:
    The U.S. has no basis to invade. The country that has a legal basis is Spain The reason is because this government is not a lawful successor government to the one established at the time of Venezuelan Independence.
  • Denise Pharmer on May 19 2016 said:
    they look like kadhifi's female body guards....i wonder what happened to those sweet girls...
  • Eric on May 19 2016 said:
    Rottenrollin, there is nothing comparable in the US to what is going down in Venezuela. This government was completely corrupt from its genesis. Where as most of our corruption still resides with the Republicans in Congress. This is what would happened if we allowed your ilk to take over entirely.
  • Shonda is Uneducated on May 19 2016 said:
    This has NOTHING to do with Republicans and everything to do with Socialism always leading to disaster. Every time. History has already proved this.
  • Shonda on May 19 2016 said:
    This is the product of fcking war-hungry republicans.
  • rottenrollin on May 18 2016 said:
    "in a bid to halt a crisis threatens mass unrest." Can't ANYONE write anymore ??????

    HEY, LIBRALS.........THIS IS WHERE YOU TAKE US............ cha cha cha

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