Citgo’s Future in Doubt, Thanks to Its Takeover by Venezuela’s Military

Will Donald Trump Win the 2020 Election?


Immediately following Venezuela President Maduro’s arrest of 50 people running his oil company, allegedly in an attempt to eliminate corruption at that company, PdVSA, he named a military general as his oil minister and replaced the company’s manager with a political crony. Neither has any oil industry experience.

At first glance the move seems insane. Production by PdVSA is half what it was just two years ago under skilled (many U.S.-trained) executives, and now the Marxist dictator has replaced them with people who know nothing at all about how to run an oil company. Maduro said he was rooting out corruption at the company, claiming that the executives fudged the company’s production numbers in order to make the company’s…

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