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Where's the evidence of that? Why do you think venezuela should be able to solve all their problems by pumping more oil but don't expect failing companies to do
by krisdol 11y ago
Where's the evidence of that? Why do you think venezuela should be able to solve all their problems by pumping more oil but don't expect failing companies to do the same?
- AnimalMuppet 11y agoYou seem to be confused. api's claim was that getting rid of people who know what they're doing, and expecting success, never works. You seem to be arguing that other things can fail to work. That's true; nobody claimed otherwise. Your replies therefore seem to be aimed at strawmen; nobody here has expressed the position you are arguing against.
- krisdol 11y agoYou're right, I was taking issue with the article quote that api embedded, and the notion that getting rid of people who knew what they were doing, assuming it's true, was the cause of VZ's current catastrophe. I think they could have had the most well-oiled oil-pumping machine and they would still be in financial ruin, as has happened to countless corporate oil companies in the US.
- AnimalMuppet 11y agoTrue. If you set your expenses to match your expected income, and your income is from oil, and the price of oil falls spectacularly, you're in deep trouble. It doesn't matter whether your expenses are social programs (Venezuela) or loan payments (frackers), you're just about doomed either way.