[mylife]

there will be sulfur coming out of Caracas.

I think thats the key here. Venuzuelas oil is heavy and sulphorous.

thackney? can you enlighten us as to the "grade" of venuzuelan oil?

[thackney]

--can you enlighten us as to the "grade" of venuzuelan oil?--

They have more than one grade.

http://www.energy.ca.gov/2006publications/CEC-600-2006-006/CEC-600-2006-006.PDF
See page 9, table 2 for some comparisons. Similar sulfur to Saudi Arabia, similar but lower API°s. They have heavier crude as well.

[thackney]

--"grade" of venuzuelan oil?--

That first reply now sounds like I overstated its quality, that was just a sample of some of what the export. They have some really poor quality oil as well. Perhaps the value of their product would be a better comparison.

http://www.opec.org/library/Annual%20Statistical%20Bulletin/pdf/ASB2005.pdf
It is a big file, but page 117, you can see they have some of the cheapest stuff, low value like Mexican Maya junk.