What percentage of world oil
reserves is held by national oil
companies, with no private equity?
A: 13% C: 50%
B: 37% D: 77%
Correct Answer: 77%
There are also 13 state-owned oil
companies with more reserves than
ExxonMobil is the largest multinational oil
company in the world.
Chávez as a prophet...
What does Chavez call his
invented brand of socialism?
Bolivarian Socialism - Named from
Simón Bolívar: a little Marx, a little
Jesus, a little anti-imperialism, and a
lot of his dedication to the
endogenous and socialist
development of the nation.”
What is Pdvsa - and what sort of
effort is it using to help the
Pdvsa is the personal oil company
of Chavez - they are investing the
company’s profits in helping
dropouts finish high school.
Issues with Nationalized
Research & Development
Attempting to keep capacity
Pdvsa... the best?
What company did Pdvsa take
over in the form of Nationalization
in January of 1976?
Exxon - the company changed nothing
but the name which was essential to the
seamless transition - until Chavez of
Pdvsa at one point in history is the
best example of a nationalized oil
Nearly 10 years later - As the company
sinks farther into debt now, this is simply
not the case any longer.
The Poor Get Rich...sort of.
The gains in health, education and
housing have been significant.
What do you feel will happen next
- does nationalized oil companies
lead to corruption?
Should all oil be privatized?