Oil-rich Venezuela's need to import gasoline demonstrates the abysmal management of the country over the last two decades.
The World’s Biggest Green Hydrogen Plant Is Planned For California. Its Prospects For Electric Power And Transportation?
Oil production and refinery output have suffered spectacularly because of lack of maintenance. Refining began in the 1860s with equipment similar to that of moonshiners—cooking the oil and condensing out the desirable light products, namely kerosene. . Modern refineries still perform this basic function, but with instrumentation and chemicals that optimize production.
So, the Maduro regime could repeat this, but hopefully with one change: perform the most basic maintenance and refurbishing of refineries, but give priority to oil production. Historically, the refining sector has been much less profitable than oil production, especially in resource-rich countries like Venezuela. Unfortunately, governments often emphasize investment in refineries as if they were strategic businesses, which has not been true for a long time.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Dirty John: The Betty Broderick Story' is tabloid excavation undone by shaky storytellingDirty John season 2 widens the anthology's historical scope, but thin characterization cheapens its provocations.
Read more »
It's US foreign policy that gives life to Iran-Venezuela solidarityA stronger relationship between the two will trigger another headache for the US, but this time in its own hemisphere.
Read more »
Iran’s next president holds all the cards for US rapprochementFour decades of mistrust between Tehran and Washington isn’t likely to end soon. But it can be managed if mutual diplomacy prevails.
Read more »
Oil drops on worse than feared rise in U.S. fuel stocksOil prices fell in early trade on Thursday after U.S. crude, gasoline and heating oil inventories all rose more than expected, dousing hopes of a smooth recovery in demand from coronavirus lockdowns.
Read more »
Auction House Says $400,000 Worth of Wine Was 'Cooked' During ShipmentWine drinkers often worry about the terroir or the vintage, but don’t overlook the importance of the shipping company.
Read more »