They can just pretend that it's for the best of the planet.
Venezuela to Shut Down for a Week to Cope With Electricity Crisis
51–60 of 168 posts
Re: Venezuela to Shut Down for a Week to Cope With Electricity Crisis
#52So, technically speaking, they're going to turn it off and on again.
It is not as simple as it seems.
Re: Venezuela to Shut Down for a Week to Cope With Electricity Crisis
#53Earlier quoted context omitted.
The "almost free" gas was from fixing the price of oil, which caused massive shortages within the country.[1][2] The new government overturned Venezuela's policy on this and raised oil prices by 6000%.[3] [1] http://www.laht.com/article.asp?ArticleId=334115&CategoryId=... [2] http://www.wsj.com/articles/SB100014241278873240007045783867... [3] http://www.theguardian.com/world/2016/feb/18/venezuela-presi...
The recent price increase falls far short of overturning this policy. The new price is still ridiculously cheap and far below market prices, something like the equivalent of $0.11/gallon.
Also, their oil needs more processing than the stuff coming from Saudi or Texas / ND. This has an effect on the break even price.
Re: Venezuela to Shut Down for a Week to Cope With Electricity Crisis
#54They should have built nuclear plants when oil was expensive.
That's a good idea in the general case, but in the case of Venezuela would lead to disaster. Actually in Venezuela every power plant ends in disaster but disasters in nuclear plants have much more severe consequences.
Why would it be a disaster? The plants would be built and operated by an outside company - e.g Areva, Rosatom.
And hydro power they have today is not reliable. So they would need to use coal or natural gas. And both of these pollute compared to nuclear.
Re: Venezuela to Shut Down for a Week to Cope With Electricity Crisis
#55Here in Tasmania we're not at the shut down stage yet, but it's something no one wants to talk about. They're not asking residents to shutdown yet, but if things continue the way they are, who knows. The major companies/power users are currently being rationed (Aluminium smelters, paper mills etc) The state relies on hydro-electric power, and last year sold off a lot of its "excess" power to Victoria via the Basslink…
Thanks for sharing tue situation with us. I live just across the ditch in New Zealand and somehow managed to remain oblivious about it.
The developments makes me feel somewhat uneasy since NZ is highly reliant on hydroelectric power and we have been shutting down thermal plants because they are no longer required. Whilst there is excess capacity now we have had problems during the droughts in 2004 so the risk of another shortage is real.
Also, why is the internet affected? Is the communications cable laid next to the HVDC cable?
Re: Venezuela to Shut Down for a Week to Cope With Electricity Crisis
#56Earlier quoted context omitted.
Be aware the country is highly divided along political lines, and some of us in Argentina are thinking Macri is sinking the country into a profound unpayable debt and a crisis the likes of which-- well, I was about say "we've never faced before", but sadly my country is cyclical. We have faced it before, and we will again. I have reason to be pessimistic about Macri's policies.
Really? After 90 days of govt.? "in a profound unpayable debt"? Compared to Kirchner's administration, Macri's waaaay better. This is a sample of Kirchner's gov: http://www.eltrecetv.com.ar/telenoche/impactante-video-el-hi... You can see in the video, the son and the accountant of a major contractor from Kirchner's Administration. They're counting corruption money, and drinking a scotch to celebrate afterwards. Looks…
The new government will also be corrupt. And they have agreed to repay questionable old debt by taking on new loans, and will probably receive kickbacks from the vultures.
Re: Venezuela to Shut Down for a Week to Cope With Electricity Crisis
#57Earlier quoted context omitted.
Really? After 90 days of govt.? "in a profound unpayable debt"? Compared to Kirchner's administration, Macri's waaaay better. This is a sample of Kirchner's gov: http://www.eltrecetv.com.ar/telenoche/impactante-video-el-hi... You can see in the video, the son and the accountant of a major contractor from Kirchner's Administration. They're counting corruption money, and drinking a scotch to celebrate afterwards. Looks…
Yes, the almost complete surrender to the terms of the holdouts and vulture funds, Paul Singer included, will sink the country into a debt I don't see how it can ever be paid. All within 90 days, quite a feat! Alleged contractors corruption cases are a serious deal which should be investigated, no-one is denying that, but I don't think corruption alone is all that matters in a country. I'm more worried about disastro…
The US had a lot of debt to "Vulture Funds" after the Revolution. The US paid.
Like the US, Argentina's decision to pay its debts will enable the country to borrow, which is useful if you want to invest in stuff which will improve your economy.
Re: Venezuela to Shut Down for a Week to Cope With Electricity Crisis
#58Earlier quoted context omitted.
That's a good idea in the general case, but in the case of Venezuela would lead to disaster. Actually in Venezuela every power plant ends in disaster but disasters in nuclear plants have much more severe consequences.
Why would it be a disaster? The plants would be built and operated by an outside company - e.g Areva, Rosatom. And hydro power they have today is not reliable. So they would need to use coal or natural gas. And both of these pollute compared to nuclear.
Nuclear power stations require a high initial capital input. AFAIK nothing of this sort has been happening since Chavis became president. They have essentially starved their own energy industry of necessary reinvestments to get a quick buck.
This is of course, ignoring the risks that the government claiming that they will take over the nuclear plant and put a high school dropout in charge.
Re: Venezuela to Shut Down for a Week to Cope With Electricity Crisis
#59A real life Ayn Rand story.
Ya, I'm a libertarian, and I find myself flinching a bit while reading Atlas Shrugged.
What's even funnier, though, is seeing real life unfold in front of my eyes that matches it, almost so perfectly that you'd think the politicians were following it as a script!
Re: Venezuela to Shut Down for a Week to Cope With Electricity Crisis
#60Earlier quoted context omitted.
Yes, the almost complete surrender to the terms of the holdouts and vulture funds, Paul Singer included, will sink the country into a debt I don't see how it can ever be paid. All within 90 days, quite a feat! Alleged contractors corruption cases are a serious deal which should be investigated, no-one is denying that, but I don't think corruption alone is all that matters in a country. I'm more worried about disastro…
The US had a lot of debt to "Vulture Funds" after the Revolution. The US paid. Like the US, Argentina's decision to pay its debts will enable the country to borrow, which is useful if you want to invest in stuff which will improve your economy.
I'm unfamiliar with that part of US history, can you provide me with a brief recap (or better yet, a link to an article) explaining how their creditors behaved like vulture funds? (edit: do you mean this? https://history.state.gov/milestones/1784-1800/loans)
This isn't about regular creditors, but about vulture funds, sovereign debt, ruining countries, and the never-ending cycle of incurring even more debt to pay for existing debt.