Largest oil reserves in the world + socialism = fuel shortages and imports.
Bloomberg (12/4/20) reports: "Iran is sending its biggest fleet yet of tankers to Venezuela in defiance of U.S. sanctions to help the isolated nation weather a crippling fuel shortage, according to people with knowledge of the matter. Some of the flotilla of about 10 Iranian vessels will also help export Venezuelan crude after discharging fuel, the people said, asking not to be named because the transaction is not public. The Nicolas Maduro regime is widening its reliance on Iran as an ally of last resort after even Russia and China have avoided challenging the U.S. ban on trade with Venezuela. The country’s fuel crunch follows decades of mismanagement, corruption and under-investment at state-owned Petroleos de Venezuela since the time of Maduro’s late mentor and predecessor, Hugo Chavez. The country that was once a top supplier of crude to the U.S. and boasted one of the lowest domestic gasoline prices in the world, now can barely produce any fuel. The last Iranian fuel shipments sent in early October on three vessels are running out, threatening steeper nationwide shortages with hours-long queues at gas stations."
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"Next time you hear politicians, from the prime minister down, boast about the fantasy number of green jobs they’re going to create, remember the sorry case of the BiFab yard in Scotland, now plunged into administration despite £52m in taxpayer aid since 2017. All gone."
– Andrew Neil, The Spectator
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