Quote from: RealBitcoin on July 12, 2016, 06:01:28 PM

Quote from: deisik on July 12, 2016, 05:54:34 PM

Quote from: RealBitcoin on July 12, 2016, 05:43:40 PM

Quote from: ngupowered on July 12, 2016, 03:57:23 PM

Now to Venezuela. You fail to comprehend that an ALREADY capitalistic world isn't going to invest in an ALREADY poor country with low property rights and security - not going to happen - meaning that they are essentially cut off from the world, hence their problems; but it doesn't prove that Venezuela is a failure, just that the "market" doesn't like it. Let's face it: if you believe something to be yours, you're not going to hand it over to someone intent on destroying it.

They have tons of oil, if they had exported that, and divided the profits amongst all citizens, they could have lived in this sort of "utopic" socialism.

But it didnt happen. Why? Because government enterprises are always inneficient. Only private businesses can operate in efficiency

Aramco, no?

You are bubbling something without a second thought if what you say is actually true

Then check the wiki page:
https://en.wikipedia.org/wiki/Saudi_Aramco

It has a President and CEO, which means it operates like a private corporations, where 100% of the shares are owned by the government.

So it has the structure of a private corporation, and only the shares are owned by the government

This is what precisely makes it a "government" enterprise. The correct term is national company, i.e. a company fully or in larger part owned by a national government. You seem to have completely decoupled with logic. According to your words, government enterprises are always inefficient, but since Aramco is owned by the KSA government and assumed to be efficient, this means that no government enterprise can be owned by government...

Which essentially equals stating that government enterprises are not government enterprises, lol

Quote

Saudi Aramco [...] is a Saudi Arabian national petroleum and natural gas company based in Dhahran

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A national oil company is an oil company fully or in the majority owned by a national government

https://en.wikipedia.org/wiki/National_oil_company