logoalt Hacker News

password54321last Saturday at 2:16 PM4 repliesview on HN

"It (Venezuela) currently exports (oil) about 900,000 barrels per day and China is by far its biggest buyer."

Ah ok, so this was about China. MAGA's fixation on China is certainly going to lead to more instability.


Replies

groundzeros2015last Saturday at 4:39 PM

Democrats and republicans are concerned about China because it has a massive impact on many issues that both parties care about. This includes Taiwan, Hong Kong, Us manufacturing, US ip, immigration, etc.

show 2 replies
culiyesterday at 5:14 AM

The only reason China is the biggest buyer is because of crippling US sanctions since 2017 that have made it impossible for Venezuela to trade with any western nation

https://www.tandfonline.com/doi/abs/10.1080/05775132.2019.16...

> This article analyzes the consequences of the economic sanctions imposed on Venezuela by the U.S. government since August of 2017. The authors find that most of the impact of these sanctions has not been on the government but on the civilian population. The sanctions reduced the public’s caloric intake, increased disease and mortality (for both adults and infants), and displaced millions of Venezuelans who fled the country as a result of the worsening economic depression and hyperinflation. They made it nearly impossible to stabilize Venezuela’s economic crisis. These impacts disproportionately harmed the poorest and most vulnerable Venezuelans.

password54321last Saturday at 5:57 PM

Few hours later: "US oil companies will fix Venezuela's "broken infrastructure" and "start making money for the country", Trump added"

Obviously anyone with common sense understands that the above translates to exporting oil to the US. Just like that, a lot of noise about democracy goes out of the window.

monerozcashyesterday at 10:18 AM

Less than 1% of global oil consumption.

show 1 reply