• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Wind droughts
  • 4 hours "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 8 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 3 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 1 day Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 hours The Federal Reserve and Money...Aspects which are not widely known
  • 3 hours "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 5 hours "Oil prices likely not responsible for inflation and other energy insights by hedge fund manager Josh Young" - Kitco News interview by David Lin
  • 5 hours Uniper is over - Germany (Government) buys the Company
  • 13 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 6 days "Dodgy Demand Data? The Oil Price Collapse Conspiracy" by Alex Kimani
  • 10 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 13 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com

Breaking News:

Germany’s Floating LNG Terminal Delayed

Ross McCracken

Ross McCracken

Ross is an energy analyst, writer and consultant who was previously the Managing Editor of Platts Energy Economist

More Info

What Comes Next For Venezuela?

Having written last week that Venezuela was staggering on through seemingly endless social and economic crises, an end game may finally be insight. It is impossible to predict when a regime will fall, but when it happens it can happen fast, and in Venezuela’s case the impact on the oil market could be substantial.

A reported 3 million people have fled the country, the government has defaulted on its debts, the economy is in the grip of hyperinflation, there are shortages of food, medicines and basic goods, and much of Venezuela’s remaining oil production, now reduced to around 1 million b/d, is in hock to China. The salaries paid by state oil company PDVSA are virtually worthless and many employees simply do not turn up for work.

The announcement on Monday of US sanctions on state oil company PDVSA will disrupt the flow of crude oil to Gulf Coast refineries, and precipitate an even deeper cash crisis for Caracas. Trade flows of heavy crude could be rerouted, but Caracas would be dependent on China and its other customers paying dollars rather than taking the crude in lieu of existing debt. 

Revolution and state failure are by no means unlikely scenarios, yet it is evident that the Chavista revolution retains some core support, particularly within the military.

So what are the possible outcomes?

Militarisation

The military stands firm behind the Maduro government. This could only be achieved by further repression and heightened…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News