Looking at the country’s oil production, one can also get regional data from the latest PDVSA report, as shown below. As you can see, PDVSA’s production from both the Western part of the nation (Zulia) and the southern part (Barinas Apure) is still down significantly from the levels of 2001, with Zulia Basin production down 330,000 barrels a day and Barinas Apure by some 20,000 barrels a day. In Zulia, where most of the oil is light, the problem is that most wells are old and need investment to keep production up, which PDVSA has not done. In the Eastern part of the Nation, production has been recovered but as we will see in a future graph, there is a very high cost that will be paid some day, due to the irresponsibility of the Roja, Rojita leaders who talk about sovereignty out of their mouths, while destroying it with their actions.
Production of crude oil in thousands of barrels in the three different regions of the country for the last five years.
The Devil's Excrement
Observations focused on the problems of an underdeveloped country, Venezuela, with some serendipity about the world (orchids, techs, science, investments, politics) at large. A famous Venezuelan, Juan Pablo Perez Alfonzo, referred to oil as the devil's excrement. For countries, easy wealth appears indeed to be the sure path to failure. Venezuela might be a clear example of that.
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