File this under "strange Ven headlines"

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First a word from our sponsors. The Vens are masters at obfuscatory headlines. Anyone attempting to discern precise realities within Venland by reading the headlines and even the stories is in for a rough time. That's why you must read everything with a grain of salt, and store it for later usage in your mind. This story falls under that category. Herein is a politically slanted story in which the Ven Energy minister denies cheating on OPEC quotas. Why is he denying this? A "source" presumably deep within PDVSA has told a TVEE reporter that he is certain they are cheating. Now who the hell knows if this is a disgruntled guy with a chip and a big mouth or a reporter fabricating a story. That being said, midway down the story, there's a line about the Vens not cheating because their capacity has been markedly reduced. Let me say that again, their capacity has been markedly reduced.

Let me give you the exact quote, cause I think it bears repeating: > She said PDVSA had wanted to increase output by 500,000 > barrels per day above its quota of 2.72 million bpd, but had > not been able to reach that level because of a sharp drop in > production capacity.

Hmmm.....I wonder what the f*ck that means. Could be nothing, could be something. Could explain a lot of sh*t.

For educational and chills down your spine purposes only:

Venezuela denies PDVSA cheating on OPEC quota > CARACAS, Jan 18 (Reuters) - Venezuelan Energy and Mines > Minister Ali Rodriguez denied Tuesday that state oil company > Petroleos de Venezuela was increasing oil production above its > OPEC quota behind his back. > In an interview on the local Televen television network, > Rodriguez reiterated, citing independent surveys, that > Venezuela was complying more strictly to its production quota > than any other member of the OPEC oil cartel. > "Today there are surveys, the so-called secondary sources > that have nothing to do with OPEC, and all indicate that > Venezuela has complied the best with its production cuts," he > said. > Television journalist Martha Colomina said she understood > from what she described as a very reliable PDVSA source that > the company was hiking output above its OPEC quota behind the > back of the ministry, as it has done in previous governments. > She said PDVSA had wanted to increase output by 500,000 > barrels per day above its quota of 2.72 million bpd, but had > not been able to reach that level because of a sharp drop in > production capacity. > In a December survey conducted by Reuters, Venezuela was > estimated to have pumped 2.79 million bpd, complying by 89 > percent with its agreement to cut 650,000 bpd from oil output, > better than any other OPEC member. However, compliance of the > group as a whole was estimated to have dropped to 74 percent. > During the previous government of Rafael Caldera, PDVSA > ignored OPEC agreements made by Energy and Mines Minister Erwin > Arrieta and flagrantly violated the country's quota. The OPEC > agreements flew in the face of PDVSA's strategy to ramp up > market share with the help of massive foreign capital flows. > President Hugo Chavez, who took office nearly a year ago, > lambasted PDVSA's policy as "insubordinate" and made it a > campaign promise to bring the country back into line with the > cartel. > World oil prices have more than doubled since Chavez took > power, partly because of Venezuela's perceived adherence to its > OPEC quota. > "The relationship between the ministry and PDVSA today is > like never before because we share decisions and we are playing > for the same team and the same strategy," said Rodriguez, who > comes from the Fatherland For All party which is in the > government alliance but outside Chavez's core political group. > "The strategy is recognised by Venezuelans because we have > not made it up. It has been our response for many years in > Congress and in the street," he added. > There has been speculation in the local press recently that > Rodriguez would be replaced as minister by PDVSA President > Hector Ciavaldini, who is a personal friend of President > Chavez. > ((Tom Ashby, Caracas newsroom, +582 505-2611 fax +582 > 861-3621, caracas.newsroom@reuters.com)) > [O] [MD] [VE] [CRU] [PROD] [OPEC] [LATAM] [EMRG] [SHP] [NGS] [CHE] > [LEN] [RTRS][MEAST]

PS-can someone please cross post this to downstreamers forum. I would like to but I'm not signed up there. Thanks. Oh and there's a reason the long bond went to 6.75 today. It's called commodity inflation. Again a hale and hearty f*ck you to all the irresponsible toads who brought our nation to the brink of this sh*tstorm. That means you Billy Clinton, and Billy Richardson, Al Greenspin, bubbleheads on parade (CNBC), Silicon Implant (er Valley), Hamburger's & Twist Venture Crapital, the list is endless. To many to thank. F*ck you all!

-- Gordon (g_gecko_69@hotmail.com), January 18, 2000

Answers

Hey Gordo, what is your take on "report from the Carribean" 3 threads below ?

-- Earl (earl.shuholm@worldnet.att.net), January 18, 2000.

Who will be next in the "dullest post" contest?

-- (snoring@TB.2000), January 18, 2000.

Gordon, I cross-posted it,
but, you don't need a password
to post.

-- rocky (rknolls@no.spam), January 18, 2000.

Are you alright Gordon? You seem a little testy.

-- JoseMiami (caris@prodigy.net), January 18, 2000.

Gordon, great post, heh. I read of the same event in the mid east last week was it--anyone else remember? One of those countries starting with an "I"?

-- Hokie (Hokie_@hotmail.com), January 18, 2000.


What is a "Ven" and or "Venland"?

-- James (three2@aol.com), January 19, 2000.

Brother GORDO !

Are ya getting that Fundamentalist blackgold/texastea = Y2K religion yet?? Can you feel it corsin thru ya, brother??? Do you feel the power of embedded chips shortin out?

Your bro' The right reverend Billy Sol Oilstes from the First Church of the Gooey Death and Discount House O' Worship [with all apologies to Don Imus - Imus in the Morning]

-- Dick Moody (dickmoody@yahoo.com), January 19, 2000.


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