• Latest
  • Most Read
venezuela, aluminium

Venezuela pays for Maduro’s socialistic and state-controlled policies

4 years ago
5 Actors who ruined a Franchise as Replacement

5 Actors who ruined a Franchise as Replacement

19 hours ago
Rolls Royce Controversy

Rolls Royce Controversy: Another UPA scam on the cards

19 hours ago
Rahul Gandhi speech: BJP’s star campaigner is back in action!

Rahul Gandhi speech: BJP’s star campaigner is back in action!

19 hours ago
Sportspersons careers

5 Indian Sportspersons Who Destroyed Their Own Careers

20 hours ago
Bending rules to save the corrupt, the Congress way

Bending rules to save the corrupt, the Congress way

20 hours ago
Wrestlers Protest

Modi govt. has done what it should have done a long ago with the Toolkit Gang

20 hours ago
There’s more to Goa than just Feni and Vindaloo

There’s more to Goa than just Feni and Vindaloo

20 hours ago
Kamal Haasan and Naseeruddin Shah: The ‘Tubelights’ of Indian Cinema

Kamal Haasan and Naseeruddin Shah: The ‘Tubelights’ of Indian Cinema

21 hours ago
Annamalai Padyatra

How K Annamalai’s ‘Padyatra’ can achieve the impossible?

21 hours ago
Raghuram Rajan

What does Raghuram Rajan exactly want?

21 hours ago
5 failed Inventions

5 Inventions that failed to serve their purpose

2 days ago
Pan India films

Pan India films have been a disaster this year, and the reason is apparent

2 days ago
Report on India: Morgan Stanley gives double thumbs up to Modinomics

Report on India: Morgan Stanley gives double thumbs up to Modinomics

2 days ago
Wrestlers Protest

Wrestlers Protest: Once champions, now disgraced foot soldiers of the opposition parties

2 days ago
India's GDP

Nominal GDP Growth at 16.1%? National Statistical Office releases India’s Economic accomplishment

3 days ago
  • About us
  • Careers
  • Brand Partnerships
TFI Official Merchandise
TFI हिन्दी
TFI Global
Saturday, June 3, 2023
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Rolls Royce Controversy

    Rolls Royce Controversy: Another UPA scam on the cards

    Rahul Gandhi speech: BJP’s star campaigner is back in action!

    Rahul Gandhi speech: BJP’s star campaigner is back in action!

    Bending rules to save the corrupt, the Congress way

    Bending rules to save the corrupt, the Congress way

    Wrestlers Protest

    Modi govt. has done what it should have done a long ago with the Toolkit Gang

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Report on India: Morgan Stanley gives double thumbs up to Modinomics

    Report on India: Morgan Stanley gives double thumbs up to Modinomics

    India's GDP

    Nominal GDP Growth at 16.1%? National Statistical Office releases India’s Economic accomplishment

    Vada Pav is Just the Tip of the Iceberg: A look into the rich culinary delights of Maharashtra

    India’s Resilience: A Zero Percent Chance of Recession

    Indian PSUs

    Once a butt of all jokes, Indian PSUs are posting better results than Fortune 500 companies

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    new CBI director Praveen sood biography

    Who is Praveen Sood the New CBI Director: Professional Background, Achievements and Significance of the Appointment

    Paramjit Singh Panjwar shot dead

    Paramjit Singh Panjwar shot dead: Keep calm and trust the Indian Armed Forces

    Swarm satellites

    India’s Bold Step towards Satellite Swarm Intelligence: A New Era in Space Technology

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Modi is the boss

    Modi is the boss: “Vedic Mantras” and an ocean of crowd: PM Modi’s Australia tour will echo till eternity

    PM Modi Extends a Diplomatic Olive Branch: A Special Message for Zelensky

    PM Modi Extends a Diplomatic Olive Branch: A Special Message for Zelensky

    NIA High Commission in UK

    NIA will probe the attack on Indian embassy, in UK!

    UK Student Visa rule new

    UK Student Visa Rules: International Students Barred from Bringing Families

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    5 failed Inventions

    5 Inventions that failed to serve their purpose

    What Do You Mean by Bhulekh Uttar Pradesh & Why Should You use It?

    What Do You Mean by Bhulekh Uttar Pradesh & Why Should You use It?

    5 Accidental Inventions

    5 Accidental Inventions that have become essential in our lives

    Sengol Tamil Nadu real picture

    What is Sengol: Tamil Nadu Connection, History, Significance and why it is to be installed in New Parliament

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    5 Actors who ruined a Franchise as Replacement

    5 Actors who ruined a Franchise as Replacement

    Sportspersons careers

    5 Indian Sportspersons Who Destroyed Their Own Careers

    There’s more to Goa than just Feni and Vindaloo

    There’s more to Goa than just Feni and Vindaloo

    Kamal Haasan and Naseeruddin Shah: The ‘Tubelights’ of Indian Cinema

    Kamal Haasan and Naseeruddin Shah: The ‘Tubelights’ of Indian Cinema

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Rolls Royce Controversy

    Rolls Royce Controversy: Another UPA scam on the cards

    Rahul Gandhi speech: BJP’s star campaigner is back in action!

    Rahul Gandhi speech: BJP’s star campaigner is back in action!

    Bending rules to save the corrupt, the Congress way

    Bending rules to save the corrupt, the Congress way

    Wrestlers Protest

    Modi govt. has done what it should have done a long ago with the Toolkit Gang

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Report on India: Morgan Stanley gives double thumbs up to Modinomics

    Report on India: Morgan Stanley gives double thumbs up to Modinomics

    India's GDP

    Nominal GDP Growth at 16.1%? National Statistical Office releases India’s Economic accomplishment

    Vada Pav is Just the Tip of the Iceberg: A look into the rich culinary delights of Maharashtra

    India’s Resilience: A Zero Percent Chance of Recession

    Indian PSUs

    Once a butt of all jokes, Indian PSUs are posting better results than Fortune 500 companies

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    new CBI director Praveen sood biography

    Who is Praveen Sood the New CBI Director: Professional Background, Achievements and Significance of the Appointment

    Paramjit Singh Panjwar shot dead

    Paramjit Singh Panjwar shot dead: Keep calm and trust the Indian Armed Forces

    Swarm satellites

    India’s Bold Step towards Satellite Swarm Intelligence: A New Era in Space Technology

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Modi is the boss

    Modi is the boss: “Vedic Mantras” and an ocean of crowd: PM Modi’s Australia tour will echo till eternity

    PM Modi Extends a Diplomatic Olive Branch: A Special Message for Zelensky

    PM Modi Extends a Diplomatic Olive Branch: A Special Message for Zelensky

    NIA High Commission in UK

    NIA will probe the attack on Indian embassy, in UK!

    UK Student Visa rule new

    UK Student Visa Rules: International Students Barred from Bringing Families

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    5 failed Inventions

    5 Inventions that failed to serve their purpose

    What Do You Mean by Bhulekh Uttar Pradesh & Why Should You use It?

    What Do You Mean by Bhulekh Uttar Pradesh & Why Should You use It?

    5 Accidental Inventions

    5 Accidental Inventions that have become essential in our lives

    Sengol Tamil Nadu real picture

    What is Sengol: Tamil Nadu Connection, History, Significance and why it is to be installed in New Parliament

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    5 Actors who ruined a Franchise as Replacement

    5 Actors who ruined a Franchise as Replacement

    Sportspersons careers

    5 Indian Sportspersons Who Destroyed Their Own Careers

    There’s more to Goa than just Feni and Vindaloo

    There’s more to Goa than just Feni and Vindaloo

    Kamal Haasan and Naseeruddin Shah: The ‘Tubelights’ of Indian Cinema

    Kamal Haasan and Naseeruddin Shah: The ‘Tubelights’ of Indian Cinema

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
No Result
View All Result

HOME » Politics » Opinions » Venezuela pays for Maduro’s socialistic and state-controlled policies

Venezuela pays for Maduro’s socialistic and state-controlled policies

Kishore V Ramsubramonian
by Kishore V Ramsubramonian
2 February 2019
in Opinions
0
venezuela, aluminium

(pc: assets)

4.2k
VIEWS
Share on FacebookShare on Twitter

The first time I took note of Venezuela as a country was not when it was sending one Miss Universe or the other (Miss World) but while I was on my first job which was in Aluminium industry. India’s bauxite reserves position was fifth in the world, so naturally, the curiosity was which country holds the first position and the answer was Venezuela. Not only that, but it also had an abundance of cheap hydel power another important ingredient for making Aluminium. So there were some discussions involving why not acquire an Aluminium plant there which could produce the cheapest Aluminium in the world. The idea was triggered by some common followers of Maharshi Mahesh Yogi, who was quite popular in Venezuela at that time. Much later when I was working in Steel Industry with ArcelorMittal, a similar story about an aborted acquisition of a Steel plant there was going around. Mittal who has a sharp eye for picking the right acquisition declined at the last moment to go ahead, despite Venezuela boasting the second largest coal mines in Latin America and one of the top countries with iron ore reserves.

I actually got to visit Caracas in 2008, in my current company that is in Oil and Gas, and that time the Oil prices were at its historic highest close to USD140/bbl. Not surprisingly, it is Venezuela and not Saudi Arabia, that has the highest Oil reserves (close to 800 billion bbls) mostly untapped. Not just this, the country also is the second largest in gold mines. With so much of abundance in natural resources, there is no reason why this country should be starving. It should naturally be the richest in the world! So why is it not? It isn’t the gift of having the best of natural resources that makes a country rich, but how well you put the best of your resources – your people to add value to it. Through the right kind of political and industry leadership. If there is any doubt, look at Taiwan or Singapore which have almost zero natural resources but countries that boast of high productivity and human ingenuity that make them add value!

In 2008, the Bolivarian Revolutionary leader Chavez was at the heights of his power. He was being looked up to by the neighbouring socialist countries as the natural successor to Castro. Someone who could stand up against the US and its bullying in the region and had the gumption to nationalise and expropriate even foreign company assets when they refused to work when Venezuelan government or the State-owned enterprises would not pay them up. Such heroics made him more popular among the working class for whom he had set up huge Social Development Funds, that every private enterprise must donate to if they work in Venezuela. Yet they would be exporting their heavy crude at a discount, and import high priced gasoline as they didn’t have the refining ability or capacity to process their own crude. All this worked well until Oil prices were surging, despite huge social costs, mounting state debt and inflation, and unshackled corruption. In Sep 2008, when the global financial crisis made Oil prices fall, things started to turn far worse.

Despite Oil prices clawing back in 2010, an ailing Chavez, and the political quagmire meant no forward-looking decision making until Chavez named his successor Maduro (a big Saibaba devotee. Like Maharshi Mahesh Yogi, Saibaba of Puttaparthi is quite popular in Venezuela) in 2013 and then passed away. With the leadership change at the top, people expected more foreign investment and activity picking up, but sadly that was not the case to be. Maduro, though less popular than his illustrious predecessor was no less in pursuing his socialistic and state-controlled policies, and the great fall of Oil prices in 2014, triggered the saddest episodes in the history of one of the most resource-rich nations, whose currency is so devalued it doesn’t have the value of its paper it is printed, and people are on the streets fighting for food!

Maduro now faces the biggest challenge to his power, with Juan Guaido, the opposition leader claiming to be President on his own, the foreign powers eyeing an opportunity to grab their hold on the resources, this is going to be another Iraq or Syria, engaged in a long bloody battle for power, if it doesn’t get sorted out in this current mayhem. Whatever it results in, the country definitely needs to shed one thing to move forward – the failed policies and ideologies of its State that have ruined it so far!

Tags: Juan GuaidoMaduroOil pricesVenezuela
Share963TweetSend
Previous Post

FNHWPB S01E01 – Lies about PM Modi, Piyush Goyal, Train 18, Dhoni, Kareena and Hindutva debunked

Next Post

PM Modi kick-starts BJP’s campaign in Mamata’s bastion

Kishore V Ramsubramonian

Kishore V Ramsubramonian

Name: Kishore V Ramsubramonian Age: Wine Education: Been to College of Engg TVM and IIM(A) Work: Travel, Talk, Transact and Train (VP - Business Development in a MNC) Interests: Everything except vested Hobbies: Boss bashing, making conspiracy theories, profiling people Pet peeves: Pets, Pests, Pandering, Peeche marna (Don't get wrong ideas, I mean backstabbing/biting)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Most Read
  • Comments
  • Latest
Xi Jinping, coronavirus, Shinzo Abe, china, Japan, coornavirus, COVID-19, Wuhan Virus

‘Pack up and get out of there,’ Japan to spend $2.2 billion to get Japanese companies to exit China

9 April 2020
ajay devgn karan johar

The man who bullied the Bully – How Ajay Devgn made Karan Johar’s monopoly a joke and forced him to apologize

22 June 2020
Huawei, China, Trump, USA, Xi Jinping

‘Our survival is at stake now,’ Chinese Telecom giant Huawei crumbles after US ban on Semiconductor exports

19 May 2020
T-Series Sonu Nigam Divya Khosla Kumar Bhushan Kumar

T-Series forced to take down Atif Aslam’s video, Divya Khosla trolled. T-Series has a bad day in office

25 June 2020
Meat Ban

A Jain responds to Meat Ban in Mumbai

Public Sector Bank, Government, Bill

Dear bank employees, continue your stride but PSBs will be privatized

anti-Hindi

Anti-Hindi Forever?- In search of a National Language!

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

5 Actors who ruined a Franchise as Replacement

5 Actors who ruined a Franchise as Replacement

2 June 2023
Rolls Royce Controversy

Rolls Royce Controversy: Another UPA scam on the cards

2 June 2023
Rahul Gandhi speech: BJP’s star campaigner is back in action!

Rahul Gandhi speech: BJP’s star campaigner is back in action!

2 June 2023
Sportspersons careers

5 Indian Sportspersons Who Destroyed Their Own Careers

2 June 2023

Popular This Week

Nawazuddin Siddiqui interview
Cinema

Dear Nawazuddin Siddiqui, you’re a one hit wonder, so just shut up

by Animesh Pandey
26 May 2023
Inspector Avinash
Cinema

“Inspector Avinash”: Randeep Hooda Shines in a Hidden Gem of a Web Series

by Animesh Pandey
31 May 2023
Indian PSUs
Economy

Once a butt of all jokes, Indian PSUs are posting better results than Fortune 500 companies

by Animesh Pandey
26 May 2023
Bollywood actors who are now thriving in other professions
Cinema

Bollywood actors who are now thriving in other professions

by TFIPOST News Desk
26 May 2023
Sanjay Khan
Cinema

Sanjay Khan – The lecherous demon behind the “handsome gentleman”

by Tejasvi Malhotra
13 November 2022

©2023 TFI Media Private Limited

  • Terms of use
  • Privacy Policy
  • Sitemap
No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFI Official Merchandise
TFI हिन्दी
TFI Global
  • About us
  • Careers
  • Brand Partnerships

©2023 TFI Media Private Limited

Follow us on Twitter

and never miss an insightful take by the TFIPOST team

Follow @tfipost