I still remember what I heard on RHC during the Gulf War.
I think it's exactly what he is pushing for. He's been stockpiling oil. Even though he's asked for a reduction in oil exports, he's been pumping in order to take government royalies profit to shore up his faltering economy. He has a lot sitting in reserve.
Ex-president of Venezuelan state oil company accuses government of eroding morale--[Excerpt] One of the major disagreements centered on the Ministry's insistence on adhering to OPEC production cuts, but forcing PDVSA to continue producing surplus oil that has now filled every available storage facility. Although PDVSA cannot sell the oil, the catch is that it still must pay royalties for producing it to the central government, Lameda revealed after his departure. "I started warehousing" when prices were $26 per barrel, he told El Universal newspaper. "They're now $16. The barrels are worth less every day. I told the minister that I have to go out and ask for $500 million in loans while I have $300 million in the warehouse." [End Excerpt]