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A comment on Venezuela Declares Every Friday a Holiday to Save Electricity. Parent comment

Re:Venezuela Declares Every Friday a Holiday to Save Electri... by protomyth on Thursday April 07, 2016 @11:50AM (#11448210)
"competent engineers with cronies is what really fucked them"

That' cannot be emphasized enough. This isn't the type of oil coming out of Texas or ND. It requires more money, infrastructure, and expertise to refine properly. Canada has this problem with the oil sands, but they have all three to deal with it.

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Re:Venezuela Declares Every Friday a Holiday to Save Electri... by bernardom on Thursday April 07, 2016 @04:19PM (#11450330)
They also have all of the professionals that left Venezuela.

When I consulted up there, most of the reliability engineering organizations were Venezuelans. Canada should send Venezuela a big thank you card for the amazing people they got due to Chavez driving out professionals.

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Re:Venezuela Declares Every Friday a Holiday to Save Electri... by dogma1138 on Thursday April 07, 2016 @12:52PM (#11448720)
Also if they would've sold the development rights to private companies those contracts would usually have a flat fee that is independent of production viability that the companies have to pay to maintain the rights, this alone would've been enough to keep them afloat.
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