Untitled

US sanctions bite Venezuela … Unable to buy equipment to drill oil… Country with world’s biggest oil reserves has to import oil

This situation will certainly contribute to a significant shortfall in global oil production. Prices will be higher as time goes by.

But one thing Venezuela failed to do during the Chavez years was to save. Norway has been able to save a trillion dollars, and has ample reserves to run it’s economy.

If you are a natural resource rich country, or a mono product economy, as you try hard and smart to diversify, also try to save.

Venezuela wants to begin refining oil abroad. Well, that’s an opportunity to create a global oil business.

Published
Categorized as News

By OzoIgboNdu1 of Igbo Defender

I am an Igbo prince. Onye Igbo ka m bu!

Drop your comment (You don't need to be a registered user to comment. Note: you might earn cashable points if you comment as a registered user.)

This site uses Akismet to reduce spam. Learn how your comment data is processed.