[Cobra64]

"These are heavy oils that not every refinery in the world can process, so the company could not immediately find buyers on the world market, not even by dropping its prices. Quite simply, most of the refineries could do nothing with Venezuelan oil without first modifying their machinery and facilities, a process which could take an average of one or two years. So as a vendor, Chávez is in a bad situation because half of his production is practically tied to his traditional buyers in the United States."

Interesting that I knew this thirty years ago and Chevez just figured it out.

[Lurker]

Well noone ever said he actually knew anything about the oil business.

L