Venezuela's opposition leader Machado wins Nobel Peace Prize

[EX500rider]

111. facts show otherwise IMO

Mass firing of experts: In 2003, after a major strike, then-President Hugo Chávez fired around 18,000 experienced PDVSA employees,
(PDVSA stands for Petróleos de Venezuela, S.A) nearly half the workforce. He replaced them with loyalists who lacked the technical skills to run the complex oil operations.

Loss of expertise: The departure of geologists, engineers, and other experts resulted in a catastrophic brain drain that PDVSA has never recovered from.

Use of funds for political projects: Instead of reinvesting profits into the company, both Chávez and Nicolás Maduro used PDVSA as a political tool to fund social programs and cronies. This diverted billions of dollars that were desperately needed for maintenance and upgrades.

Systemic embezzlement: Corruption became rampant within PDVSA, with billions of dollars siphoned off through fraudulent contracts and kickback schemes. Investigations have revealed massive theft, including one cryptocurrency-based scheme that lost the company billions.

Dilapidated equipment: The chronic lack of investment has left refineries and pipelines in a state of decay. This has led to dangerous conditions, frequent breakdowns, and environmental disasters, including massive oil spills in Lake Maracaibo.

Inability to process heavy crude: Venezuela's extra-heavy crude requires specialized techniques and investment to refine. Without foreign capital and technical know-how, PDVSA has become largely unable to exploit the country's vast reserves efficiently.

Seizure of foreign assets: In 2007, Chávez expropriated assets from major foreign oil companies like ExxonMobil and ConocoPhillips. This drove away foreign investment, which was essential for developing Venezuela's heavy crude reserves.