Thursday, June 16, 2011

Oil in Colombia

The International Energy Agency says the world will be turning more to Latin America for oil:

Saudi Arabia and a handful of other mostly Middle Eastern countries with excess production capacity will have to supply more oil, but global markets will need to rely increasingly on producers outside the Organization of the Petroleum Exporting Countries. With production declining in Mexico and the North Sea, the energy agency suggested that Canada, Brazil, the United States and Colombia would need to take up the slack.

Coincidentally, I was just discussing Colombia in my summer Latin American politics course and showed this graph.  Colombia is in a very good position to take advantage of this development.


Vicente Duque 10:31 AM  

Oil is a curse :

Clientelism, Santa Claus Economy, Everything is subsidized in Oil Economies.

Clown Dictators that think that they are the reincarnation of a Religious Leader or Founder or the last avatar of a Great Historical Hero of the Past.

Rampant Corruption, with the friends of the dictator enjoying the greatest benefits : Big State Loans of Millions of Dollars to Cretins that have no experience in Business and that are perfect lazy people that are going to squander money and will never repay the loan.

Total Manipulation of the Poor and Ignorant with lots of Fascist Symbols.

Price Controls that give big business opportunities to the corrupt friends of the DemiGod dictator.

Idiotic Jingoism and Chauvinism, constantly offending neighbor nations or Western Powers in order to gain support inside their own nationd of rendered and kneeling fools that yield and surrender to Imbecility and Absurdity.

God bless the nations that have no oil... because the devil takes charge of the oil rich nations.

Vicente Duque

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