One of President Donald Trump’s top billionaire donors, who has spent the past several months backing a push for regime change in Venezuela, is about to cash in after the president’s kidnapping of the nation’s president, Nicolas Maduro, this weekend.While he declined to tell members of Congress, Tru...
Here’s the play: Trump forced embargos on Venezuela oil that made Venezuela-owned CITGO refineries designed to refine Venezuelan oil unprofitable. US Courts forced sale of CITGO assets, Singer swooped in and bought them for $5.9billion, a third of its $18billion value (oil refineries are very expensive to build). 2 months later, Trump attacks Venezuela, removes Maduro and Venezuelan oil is legal again. Presto! Instant profit in billions!!!
So the counterplay is for Venezuela to destroy the refineries.
the refineries are in US.
It’s still not profitable to refine oil in those refineries at the current oil price.