[McGruff]

Something interesting I just found out.

While Venezuela harbors South America’s largest crude oil reserves, it also sits on a huge additional complement of Canada-like “oil sands,” second only to Canada in tar-sands reserves in the Athabasca region of its Alberta Province.

http://www.desertsun.com/story/money/industries/morrisbeschlosseconomics/2014/08/17/venezuela-abandons-citgo-petroleum-corp-and-supplemental-u-s-holdings/14199645/

[MrB]

We (humans of the world) will NOT EVER run out of oil.

[Eric in the Ozarks]

This heavy crude produced a very desirable roofing flux that was shipped to the port of Mobile and made its way into dozens of asphalt shingle plants in the US.

Hugo decided instead to blend this product off and sell it for much less to China. Pure genius.

[BfloGuy]

While Venezuela harbors South America’s largest crude oil reserves, it also sits on a huge additional complement of Canada-like “oil sands,”

True. Venezuela should be one of the richest countries in the Americas. But -- as with all government-run enterprises -- the money that should have gone to exploration and basic maintenance of its equipment was instead siphoned off to bloat the government and buy votes.

[CPT Clay]

Their Oil is also very “heavy” and can not be easily refined.