Venezuela’s biggest market for crude sales -- the U.S. -- is becoming a harder and harder place for the socialist nation’s oil producer to do business as sanctions and diminishing quality controls discourage would-be buyers.Socialism, the dream that keeps on killing.
Oil sales to U.S. buyers have fallen for two straight months and now are 56 percent lower than their 2016 average, according to ship-tracking data compiled by Bloomberg. Ever since President Donald Trump slammed the regime of Nicolas Maduro with sanctions in August, American refiners have found banks reluctant to provide letters of credit for purchases of oil from state-controlled Petroleos de Venezuela SA.
One day you wash up on the beach, wet and naked. Another day you wash back out. In between, the scenery changes constantly.
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