It will take a lot of money and a lot of time to bring Venezuela back as a big producer of oil and gas once the water clears and even this water clearing might take a little while to come to pass. By the time they are ready to push the reset button, it might be too late for Venezuela to have any meaningful oil industry altogether. Orinoco crude is super heavy and needs treatment. This means cost and in the age of shale that might make it uncommercial in the future. Let’s see how this plays out.
Regime’s attempt to seize parliamentary control creates yet another fracture in troubled Latin American nation