From Reuters:
Algeria in talks to export crude to Venezuela-Algerian energy minister
Algeria is in talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy Minister Youcef Yousfi said on Tuesday, confirming a Reuters report.And from the Miami Herald:
Last week, a document from Venezuela's state-run energy company PDVSA seen by Reuters showed Venezuela was considering importing crude oil for the first time and could use Algerian light crude as blending stock to boost sales of its own extra-heavy oil....MORE
Venezuela’s populist government is well-known for its disastrous economic management, but I would have never imagined that it would lead Venezuela — which has the world’s largest oil reserves — to start importing oil.HT on both: Walter Russell Mead who dredges up an oldie but goodie:
As weird as it seems, President Nicolás Maduro’s government plans to start importing crude oil for the first time in order to blend it with Venezuela’s own crude and keep the country’s overall production from falling further, the Reuters news agency reported last week, citing an internal document from Venezuela’s state-owned PDVSA oil company.
It turns out that Venezuela’s own production of light crudes has plummeted since the late President Hugo Chávez took office in 1999, and the country desperately needs light crudes to blend with its Orinoco Basin extra heavy crude oils. Without such a blend, the Orinoco Basin’s extra heavy crude is too dense to be transported through pipelines to Venezuelan ports and exported abroad....MORE
Question: if the Soviet Union conquered the Sahara, what would happen?sand/dredge, see what I did there?
Answer: nothing for 50 years, then a shortage of sand.
Meanwhile Chavez protégé Maduro has other matters on his mind:
Maduro, Venezuelan Catholic Church Dispute “Chavista” Version of “The Lord’s Prayer”
