Posted on 03/19/2010 5:37:42 PM PDT by Ernest_at_the_Beach
IsraelNN.com) Scientists at the U.S. Geological Survey announced Friday that approximately 513 billion barrels of “technically recoverable” oil were found in the Orinoco belt region of Venezuela – twice as much as previously believed.
Outside the Middle East, the largest oil reserves in the world exist in Venezuela. The Orinoco region spans a 50,000-square-kilometer (19,305-square-mile) area in the eastern portion of the country. Nearly 20 foreign oil companies hold contracts there, according to the Latin American Herald Tribune.
The USGS estimate outstrips the best-case scenario presented by Venezuelan President Hugo Chavez, and equals about double the supplies in Saudi Arabia, which owns a proven reserve of 260 billion barrels.
Chavez, a close associate of Iranian President Mahmoud Ahmadinejad, took the opportunity last January during Israel's counterterrorism Operation Cast Lead to cut Venezuela's long-standing diplomatic ties with the Jewish State. He is also deeply critical of the United States.
Venezuelan oil geologist Gustavo Coronel, a former board member of Petroleos de Venezuela SA (PDVSA), the country’s state oil company, tried to play down the importance of the discovery. He told the Associated Press that the U.S. estimate was too high, saying, “I doubt the recovery factor could go much higher than 25 percent, and much of that oil would not be economic to produce.” PDVSA has estimated the area contains a total of 1.3 trillion barrels of oil – but only 280 billion are actually recoverable - compared with the 45% estimated as recoverable by the USGS.
(Excerpt) Read more at israelnationalnews.com ...
Building a case is what it's called in DC
Building a case for what?
To take it back to where it flowed away from.
That makes even less sense.
I believe that these plants also need to be refitted in about 5 years because of the caustic nature of the process.
Cheers!
Well then, maybe if we ask him real nice, Hugo will use some KY on us.
“....513 billion barrels of “technically recoverable” oil were found in the Orinoco belt region of Venezuela – twice as much as previously believed.”
.
Egad, the age of cheap oil is over. Nothing but dry holes from now on.
Careful, if “we” took it over, our “greenies” would never let “us” pump it up. Much better to leave it in the hands of a practical cadre who would exploit the find.
Shoot... Just take Trinidad and do some directional drilling.
“but only 280 billion are actually recoverable - “
or, ab about 20 trillion dollars at $100 a barrel ...
First you push some propaganda that gets the ball rolling..."lots of oil there"...Unspoken: lots more than a third rate ranting dictator should control
Then you start coming up with "problems"....like Cuban operatives running the government for said third rate ranting dictator
Then you come up with a violent provocation: like his gunboats sink one of your oil companies ships or something similar (think Turner Joy).
Then you send in the F-18's to "secure the safety of our ships".
Ranting dictator retaliates.
You retaliate twice as hard. Maybe 10 times as hard.
A little luck, no more ranting dictator.
The good guys get the oil, Venezuelan wives get to shop in Me-Am-Ee with oil cash, and everyone happy.
Except Sr. Ranting Dictator.
But we don't care about him. Anymore.
Similar events recently in well known Middle Eastern country...dictator gone, oil flowing now, people less stressed
Sounds like a plan for improvement .
I saw something online about wind-farms...
this is not, repeat not, a fact...
but, it said...
wind farms generate more heat due to various frictions...
then they could cool by generating electricity to power an A/C.
Not to mention interrupting virgin airflow...
ie..., a wind farm would do more harm than good.
Don't forget, if you take Trinidad...
you are going to have Tobago breathing down your neck!!
So which president failed to make sure that Venezuela was on our side? Also I understand that their Maricaibo crude is high sulfur, is the Orinoco crude any better?
It all depends on who is recovering it.
With Hugo running the show, that sh*t ain't goin' nowhere.
“We don’t seem to have the desire to drill for it.”
Oh but we do, it is just that most people are too prone to fall asleep and let the envioros and courts dictate our future.
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