Venezuelan crisis as an expression of worldwide overproduction of heavy oil
Keywords:
Venezuela, Renta de la tierra petrolera, CrisisAbstract
The analysis of the causes behind Venezuela’s current crisis ranges between blaming imperialism and its local allies for organizing an “economic warfare” against the alleged popular politics and national independence of Maduro’s government and explaining its origins in government corruption and wastefulness. All of these arguments obviate the global essence of the national forms of capitalism and seek explanations focus in Venezuela’s local policy. In this article, we seek to analyze the local and international political changes link to the crisis as an expression of Venezuela’s place in world oil production starting from the growing overproduction of heavy oils, in which the country specializes, and the dispute with Canada for the supply of US energy marked.
Downloads
References
Al Dulaimi, H. A. M. (2014). The Collapse of Crude Oil Prices: Cyclical Evolution or Market Manipulation? Economic Insights-Trends & Challenges, 66(4), 89-96. http://upg-bulletin-se.ro/old_site/archive/2014-4/9.Haidar.pdf
Baptista, A. (1997). Teoría económica del capitalismo rentístico: economía, petróleo y renta. Caracas: IESA.
Briceño-Ruiz, J. y Molina Medina, N. (2020). China–Venezuela Relations in a Context of Change. En R. Bernal-Meza y L. Xing (eds). China–Latin America Relations in the 21st Century (pp. 147-168). Boston: Palgrave Macmillan. https://doi.org/10.1007/978-3-030-35614-9
Bull, B. y Rosales, A. (2020). The crisis in Venezuela: Drivers, transitions, and pathways. European Review of Latin American and Caribbean Studies, (109), 1-20. http://doi.org/10.32992/erlacs.10587
Buxton, J. (2019). Continuity and change in Venezuela’s Bolivarian Revolution. Third World Quarterly, 41(8), 1371-1387. https://doi.org/10.1080/01436597.2019.1653179
Caligaris, G. (2014). Dos debates en torno a la renta de la tierra y sus implicancias para el análisis de la acumulación de capital en la Argentina. Razón y revolución, (27), 63-83. https://cicpint.org/wp-content/uploads/2017/03/2014_Caligaris_Dos-debates-en-torno-a-la-renta-de-la-tierra.pdf
CELAG (2019). Las consecuencias económicas del boicot a Venezuela. Recuperado de: https://www.celag.org/las-consecuencias-economicas-del-boicot-venezuela/
Coronil, F. (2013). El Estado mágico. Naturaleza, dinero y modernidad. Recuperado de: https://epulahistoria.files.wordpress.com/2016/10/6-el-estado-mc3a1gico-fernando-coronil.pdf
Dachevsky, F. G. y Kornblihtt, J. (2018). Desarrollo automotriz y renta de la tierra petrolera en Venezuela. Expansión y crisis durante el período 1999-2016. Regional and Sectoral Economic Studies, 18(2), 123–139. http://hdl.handle.net/11336/104995
Dachevsky, F. y Kornblihtt, J. (2017). The Reproduction and Crisis of Capitalism in Venezuela under Chavismo. Latin American Perspectives, 44(1), 78–93. https://doi.org/10.1177/0094582X16673633
Delgado, P. E. (2018). El rezago de la productividad industrial en Venezuela en perspectiva mundial. Renta petrolera y la deuda externa como mecanismos de compensación. Análisis de Coyuntura, XXIV(1), 37–57. https://www.redalyc.org/journal/364/36457129004/html/
Halff, A., Monaldi, F., Palacios, L. y Santos, M. A. (2017). Apocalypse Now: Venezuela, Oil and Reconstruction. Columbia Global Energy Dialogue. https://energypolicy.columbia.edu/sites/default/files/CGEPApocalypseNowVenezuelaOilandReconstruction7%3A17%20_1.pdf
Iñigo Carrera, J. (2013). El capital: razón histórica, sujeto revolucionario y conciencia. Buenos Aires: Imago Mundi.
Iñigo Carrera, J. (2017). La renta de la tierra. Formas, fuentes y apropiación. Buenos Aires: Imago Mundi.
Kaplan, S. B. y Penfold, M. (2019). China-Venezuelan Economic Relations: Hedging Venezuelan Bets with Chinese Characteristics. Wilson Center Executive Report: Economics and Globalization (2019).
Kornblihtt, J. (2016a). Los límites de la mediación del Estado en la apropiación de la renta petrolera en Venezuela durante el chavismo. En M. Mazzeo (comp.) Chavismo por argentin@s (pp. 205–228). Caracas: El perro y la rana.
Kornblihtt. J. (2016b). Tipo de cambio y transferencia de valor: análisis a partir de la apropiación de renta de la tierra petrolera en Venezuela. En R. Escoria Romo y M. Báez Robles (eds.). Dinero y Capital. Hacia una reconstrucción de la teoría marxista del dinero. Ciudad de México: Ítaca.
Kornblihtt, J. (2019). El contenido mundial de la crisis venezolana. Rosa, (1), 63–78. https://cicpint.org/es/kornblihtt-j-2019-el-contenido-mundial-de-la-crisis-venezolana-rosa-1-63-78/
Kornblihtt, J. y Dachevsky, F. (2017). Crisis y renta de la tierra petrolera en Venezuela: Crítica a la teoría de la Guerra Económica. Cuadernos Del Cendes, 34(94), 1–30. https://www.redalyc.org/pdf/403/40353171002.pdf
Kornblihtt, J., Seiffer, T. y Mussi, E. (2016). Las alternativas al Neoliberalismo como forma de reproducir la particularidad del capital en América del Sur. Pensamiento Al Margen, (4), 104–135. https://cicpint.org/wp-content/uploads/2017/10/Kornblihtt-Seiffer-Mussi_2016_Las-alternativas-al-Neoliberalismo.pdf
Kornblihtt, J.; Dachevsky, F.; Rivas, G.; Casique, M. (2021). Base de datos: “Cálculo de la renta de la tierra petrolera y sus cursos de apropiación de apropiación en Venezuela (1960-2017)”. Informe técnico del PIO YPF Conicet “Proyecto de Investigacio?n Orientada (PIO) Conicet-FYPF 13320140100023CO: "La apropiación de la renta petrolera diferencial por distintos sujetos sociales en Argentina comparado con Venezuela y Brasil (2002 a la actualidad)". Harvard Dataverse, version 1. https://doi.org/10.7910/DVN/YFQJYN
López Maya, M. (2018). El colapso de Venezuela. ¿ Qué sigue? Pensamiento Propio, 47, 13-35. http://www.cries.org/wp-content/uploads/2018/09/006-Lopez-Maya.pdf
Marini, R. M. (1991). Dialéctica de la Dependencia. México: Ediciones Era. Recuperado de: http://www.rebelion.org/docs/55046.pdf.
Mendoza Pottellá, C. (2019). Política petrolera venezolana en tiempos de catástrofe. https://petroleovenezolano.blogspot.com/2019_10_29_archive.html#.X46SGZkqTIU
Mommer, B. (1989). La cuestión petrolera. Caracas: UCV.
O’Brien, L. y Mylde, Ch. (2019). De-mystifying price differentials: A return to market fundamentals. Enbridge Research In Action Seminar. Enbridge Centre for Corporate Sustainability (ECCS). University of Calgary's Haskayne School of Business, Canadá.
Oil Sands Magazine (2016). Why Venezuela is Alberta's biggest competitor. Recuperado de: https://www.oilsandsmagazine.com/news/2016/2/15/why-venezuela-is-albertas-biggest-competitor
Oil Sands Magazine (2019). Differentials Explained: Why Alberta crude sells at a deep discount. Recuperado de: https://www.oilsandsmagazine.com/market-insights/crude-oil-pricing-differentials-why-alberta-crude-sells-at-deep-discount-to-wti
Peters, S. (2019). Sociedades rentistas: Claves para entender la crisis venezolana. European Review of Latin American and Caribbean Studies, (108), 1–19. https://doi.org/10.32992/erlacs.10505
Rodríguez, F. (2019). Sanctions and the Venezuelan economy: What the data say. Latam Economics Viewpoints, Torino Economics.
Rosales, A. (2016). Deepening extractivism and rentierism: China’s role in Venezuela’s Bolivarian developmental model. Canadian Journal of Development Studies/Revue Canadienne D’Etudes du Développement, 37(4), 1–18. http://dx.doi.org/10.1080/02255189.2016.1208605
Salas, L. (2014). Escritos desde la Guerra Económica. Caracas: El perro y la rana.
Seiffer, T., Kornblihtt, J., y De Luca, R. (2012). El gasto social como contención de la población obrera sobrante durante el kirchnerismo y el chavismo (2003-2010). Cuadernos de Trabajo Social, 25(1), 33–47. https://doi.org/10.5209/rev_cuts.2012.v25.n1.38432
Sutherland, M. (2018). La ruina de Venezuela no se debe al «socialismo» ni a la «revolución». Nueva Sociedad, 274, 142–151.
Sutherland, M. (2019). Hiperinflación, crisis, trabajo asalariado, poder adquisitivo Crónica de una ruina anunciada. Cuadernos Del Cendes, 36(100), 35–55.
Vázquez, O. (2018). La Cuestión Chavista. Caracas: Grupo de Investigación de Ciencias Sociales e Historia.
Informes
Fustier, K., Gray, G., Gundersen, C. y Hilboldt, T. (2016). Global oil supply. London: HSBC Global Research.
Natural Resources Canada (2020). Energy Fact Book. Government of Canada. Recuperado de: https://www.nrcan.gc.ca/sites/nrcan/files/energy/energy_fact/energy-factbook-2020-2021-English.pdf
OPEC (2018). Annual Statistical Bulletin. Recuperado de: https://www.opec.org/opec_web/en/publications/202.htm
OPEC (2020). Annual Statistical Bulletin. Recuperado de: https://www.opec.org/opec_web/en/publications/202.htm
Noticias y artículos periodísticos
Bloomberg (2018). China to Lend Venezuela $5 Billion as Maduro Visits Beijing. Recuperado de: https://www.bloomberg.com/news/articles/2018-09-13/china-to-give-venezuela-5-billion-loan-as-maduro-visits-beijing
Cohen, L. & Párraga, M. (2020). Special Report: How China got shipments of Venezuelan oil despite U.S. sanctions. Reuters. Disponible en: https://www.reuters.com/article/us-venezuela-oil-deals-specialreport-idUSKBN23J1N1. Consultado: 26 de octubre de 2020.
Eaton, C. y Williams, N. (2019). Canada's heavy oil exports to Asia from U.S. surge: data, traders. Reuters. Recuperado de: https://in.reuters.com/article/us-usa-crude-canada/canadas-heavy-oil-exports-to-asia-from-u-s-surge-data-traders-idUSKBN1WC1R9
Gordon, J. y Nickel, R. (2018). Canada dreams of oil exports to Asia, but California beckons. Reuters. Recuperado de: https://www.reuters.com/article/us-canada-pipeline-exports-idUSKBN1JM2VQ
Guerra, J. (2020). Análisis | 86% ha caído la economía venezolana desde 2013. Banca y Negocios. Recuperado de: https://www.bancaynegocios.com/analisis-86-es-caida-acumulada-de-la-economia-desde-2013/
Krauss, C. (2017). Wider U.S. Sanctions on Venezuela Risk Biting Both Countries. The New York Times. Recuperado de: https://www.nytimes.com/2017/07/27/business/venezuela-sanctions-oil-maduro-vote.html
Párraga, M. y Ulmer, A (2017b). Rusia y Venezuela discuten colateral de Citgo para evitar sanciones de EEUU. Reuters. Recuperado de: https://lta.reuters.com/article/businessNews/idLTAKBN1A52ST-OUSLB
Párraga, M. y Ulmer, A. (2017a). Special Report: Vladimir's Venezuela Leveraging loans to Caracas, Moscow snaps up oil assets. Reuters. Recuperado de: https://www.reuters.com/article/us-venezuela-russia-oil-specialreport/special-reportvladimirs-venezuela-leveraging-loans-to-caracas-moscow-snaps-up-oil-assets-idUSKBN1AR14U
Smith, C. (2019). Bondholders lobby US government to soften Venezuela sanctions. Financial Times. Recuperado de: https://www.ft.com/content/7e626ba6-a630-11e9-984c-fac8325aaa04
The Dialogue (2019). China-Latin America Finance Database. Recuperado de: https://www.thedialogue.org/map_list/
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2021 Juan Kornblihtt, Manuel Casique Herrera
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Copyright notice
Authors retain copyright and grant the journal the right to be the first publication of the work as licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of authorship of the work and initial publication in this journal.
Authors may separately enter into additional arrangements for non-exclusive distribution of the version of the work published in the journal (e.g., placing it in an institutional repository or publishing it in a book), with an acknowledgement of initial publication in this journal.
Authors are allowed and encouraged to disseminate their work electronically (e.g. in institutional repositories or on their own website) before and during the submission process, as it may lead to productive exchanges, as well as earlier and higher citation of published work (see The Effect of Open Access).
