Venezuela´s last chirp?

One wonders if Venezuela’s energy minister Nelson Martinez has packed extra underwear on his new tour of Opec and non-Opec oil producers. The streets of Caracas are ablaze with protests, and Opec’s traditional price hawk has become a crippled bird.

It is a rich irony that the accelerating downfall of Venezuela´s once-thriving oil industry isn´t enough to realize the country´s ambitious oil price aspirations. The Orinoco oil belt is still mostly an undeveloped wasteland, and grand schemes for offshore gas have given way to gruesome images of spiraling canisters of tear gas.

Continue reading