Posted on 07/29/2024 9:41:16 AM PDT by Redmen4ever
Looks like Lucy pulled the football away again.
(Excerpt) Read more at reuters.com ...
Communist government energy --- A-OTAY
Biden and NWO was never in control here! Putin has won:
https://en.mehrnews.com/news/216732/Venezuela-about-to-join-BRICS-Official
https://tvbrics.com/en/news/nicolas-maduro-venezuela-to-join-brics-in-the-near-future/
Venezuelan oil is crap (thick, high sulfur, low VOCs). Expensive to refine.
For 3rd(?) year in a row the US is the world’s largest oil producer, as well as an exporter.
Cue the Police. Cuz that’s when it’ll be valuable.
This Wikipedia article has a lot of interesting data.
https://en.wikipedia.org/wiki/History_of_the_Venezuelan_oil_industry
Highlights:
“By 1940 Venezuela was the third largest producer of crude oil in the world with more than 27 million tonnes per year”
“avid supplier of petroleum to the Allies of World War II”
The Biden administration giveing cover to fellow autocrats/communists.
Oh good. Another chance to talk about oil.
Venezuela’s huge quoted reserves are ultra viscous Orinoco fields. It’s essentially like the tar sands in Athabasca Canada. It’s difficult to get out.
Anddddd, now a presentation of the concept of constituent yield.
Crude oil is a combination of portions of different kinds of liquid. There is gasoline, there is middle distillates (diesel and kerosene (jet fuel)) and there is stuff like ultra heavy bunker fuel or asphalt.
Not all oil is created equal. Some is rich in different portions/constituents. This is determined by a crude assay. You send your crude to an assay lab and they come back with an answer of X% gasoline, Y% diesel etc. The traditional definition of “sweet” was low sulphur, which just meant you didn’t have to scrape out the refinery tank every now and then. So “sweet” because lower costs at the refinery.
But that has faded a bit. Sweet is becoming . . . slowly . . . the definition of diesel rich crude.
Shale oil does not qualify as that. It is gasoline rich, which is a good product, but it doesn’t move trucks around carrying refrigerated food.
Libyan oil is the richest in the world by this measure. A barrel of Libyan crude has twice the diesel as a Saudi barrel and much more than US shale output, which is now over 1/2 of US output, offset by Alaska and Gulf of Mexico.
Anyway, Venezuela oil is hard to get at. It’s not lack of yankee know how. It’s not lack of anything. It’s just hard to get out, even harder than Canada’s tar sands.
They get some flow. They don’t export it, other than to repay Russia and China for their aid.
1940s... Back in the days when refining was simpler and maintenance and replacement parts cheaper. Venezuela does have much cheaper labor though -but much poorer quality. Maybe they can bring in some Western companies to produce and refine their oil -after they repay the billions they stole from them by seizing production assets.
Nope.
Imo smart companies could blend it with light sweet like from Guyana or Brazil and refine it below the limits of their equipment. But smart companies don’t do business with Venezuela.
That is the point—the issue is political.
The technology exists to make their oil usable in the world market.
Kreepy Kamala will fix this!
We could turn the country into a protectorate. I think the people will agree. We get paid back in oil. Leave in 10 years or so and watch the country go back to it’s old ways. Giving away the Panama Canal didn’t hurt us. We have the right to intervene there if civil unrest threatens the operation. That right has never been exercised because they know what could happen especially if the Chicoms get in the way.
She won’t Venezuela is BRICS.
“The technology exists to make their oil usable in the world market.”
C’mon man we’re talking about a communist kleptocracy, not a western nation with professional institutions and standards.
It’s like investing in ‘The economic and financial powerhouse of Cuba’.
These conditions take decades to repair. Usually in extreme hardship and poverty.
The nation is so morally and institutionally destitute it can’t even keep equipment running. But yeah, it’s gonna be all Western-profitable any day now.
Nope.
Capitalism is only suitable for nations with strong institutions, laws and morality. The plunderers attack them to consolidate their power and control over the economy.
I agree there is no quick fix to Venezuela.
It might take a decade to turn it around after the Commies are gone.
My point is the oil will still be there—and the technology will still be there to bring it to the world market.
Whenever that happens—however long it takes—it will be a win win for everyone.
Oil does not rust.
“Oil does not rust”
Yes. “Pitch” had been around for millions of years but it took a whacky, strict and square American to pay chemists to find ways to process it into useable substances to replace more expensive whale oil. -And then many other things. The rest of the world is still copying Rockefeller and Standard Oil’s methods. And many can’t even get that right aided by 150 years of knowledge and experience at their fingertips and in their employ.
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