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GeneralNathanJessup t1_j8j5nw7 wrote

Reply to comment by Empire_Engineer in [OC] New Mexico Now Produces More Oil Than Mexico & Venezuela by latinometrics

>Imagine if everyone in the country benefitted from oil production instead of just a handful of oil executives and shareholders. That would be TERRIBLE

PDVSA, Venezuela's national oil company, only has one shareholder. The government of Venezuela owns PDVSA, all of it.

https://en.wikipedia.org/wiki/PDVSA

I am sorry you had to find out this way.

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Empire_Engineer t1_j8j75is wrote

I'm sorry you don't understand that the government is a national entity that can dedicate funds toward national benefit. The concept probably isn't lost on you for thinks like infrastructure and defense?

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GeneralNathanJessup t1_j8j9nc7 wrote

I do understand that. That's why I told you that Venezuela's government was the sole shareholder of PDVSA, Venezuela's national oil company.

Not only did Venezuela nationalize all the oil, they nationalized the food, agriculture, electricity, telecommunications, mining, manufacturing, and finance sectors of the economy. https://www.reuters.com/article/us-venezuela-election-nationalizations/factbox-venezuelas-nationalizations-under-chavez-idUSBRE89701X20121008

But you probably knew that.

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