Venezuela is going over the cliff

[dan_s]

Read this: http://www.miamiherald.com/latest-news/ ... 20589.html

Venezuela, where oil production already has fallen from 3.4 million to 1.4 million barrels per day since the late Hugo Chávez was first elected president in 1999, could see its sales plummet by up to 700,000 barrels per day if multiple creditors file lawsuits, dealing a powerful blow to the Maduro regime's revenues, according to experts.

“The situation is rapidly becoming more complicated. It's getting increasingly difficult,” said Miami oil expert Horacio Medina, explaining the risks that PDVSA could face if creditors start to seize its oil shipments to other countries such as the United States.