Venezuela Faces Environmental, Social Damage as International Oil JVs Forced Out

If the current regime does not change, international operators will be forced to abandon their social role in Venezuela. The faster the remaining international operators leave – and take their engineering expertise with them – the harder the restoration of oil production will be for any new prospective government. Oil fields will be looted for material, environmental pollution will spiral out of control, and trained personnel will disappear. The financial circumstances of a new government may become so dire that every day without oil production will translate directly into human suffering among Venezuelans. By John Jannarone. Full Text -> Yahoo! Finance

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