The Venezuela thread

[EasternVol]

Because we owe Trillions of dollars, and don't want that money to be allocated to pay of a small fraction of that...

Why?

 

[hog88]

'Caracas could be the next Dubai' is almost the same level of idiocy or grift as 'Gaza could or should have been another Singapore'.

Why couldn’t Caracas rise to the same level as Dubai?

 

[LSU-SIU]

Why couldn’t Caracas rise to the same level as Dubai?

I would give its chances of being successful financially slightly better than Mogadishu. You put your money in there, well, if the sanctions ever get lifted and keep us posted.

 

[EasternVol]

Why couldn’t Caracas rise to the same level as Dubai?

Population. Dubai had far fewer people (today there are about 400K citizens) to worry about, which let them put huge amounts of their oil and gas money into developement. Venezuela's got 32M people and their oil's expensive to produce. I saw a talking head say their breakeven on new production is $80/bbl. I don't see them having anything close to the surplus funds to invest that Dubai had.
And we'd probably never allow it with their Commie tendencies.