Venezuela oil 'may double Saudi Arabia'

[demoleft]

A new US assessment of Venezuela's oil reserves could give the country double the supplies of Saudi Arabia.

Scientists working for the US Geological Survey say Venezuela's Orinoco belt region holds twice as much petroleum as previously thought.

The geologists estimate the area could yield more than 500bn barrels of crude oil.
...
The USGS team gave a mean estimate of 513bn barrels of "technically recoverable" oil in the Orinoco belt.

source: bbc, http://news.bbc.co.uk/2/hi/americas/8476395.stm

[Jim Sagle]

1. Oops...maybe we shoulda tried to get along with Hugo.

[aquart]

2. YUH THINK?

Could we have been stupider about the Americas? Is Chavez a tyrant? If he is, he's a tyrant with oil and we always LIKED those guys. Personally, I'm charmed by his puckish sense of humor.

For the past eight years, China has been sucking up and signing contracts while we blew our wad on trying to create a middle-eastern empire not even Alexander the Great could manage.

I really hope we do everything right in Haiti. We could use the good PR.

[dipsydoodle]

3. I wish

you'll do everything right in Haiti but somehow I doubt it.

[aquart]

5. Can't do too much harm since I'm not there.

And I gave my mite to DWB so I'm pretty sure that will do what's right. And next month's mite goes to Habitats for Humanity because they're already talking rebuilding.

[shadowknows69]

10. Na, easier to someday just take it.

And it keeps soldiers employed so it looks good for our economy.

[ThomWV]

12. Get along with him? Are you nuts? That's not how we do. "Regime Change"

That's how we roll. "Regime Change"

[Orsino]

4. Then I'd like to apologize in advance to the people of Venezuela for our invasion and occupation.

And for labeling them terrorists.

[RedCloud]

8. Of course its their fault our corporations hate them hoarding "our" oil.

[Junkdrawer]

9. +1 Beat me to it

[piratefish08]

6. must be time for Team America to head to sunny Venezuela......

[eShirl]

11. they better hurry before Hugo buys all the political free speech he can afford

[sabbat hunter]

7. and right now

the US is pretty much the only place that can refine the ultra heavy/very sour crude that comes from that region.

[hunter]

14. China's very interested in sour crude and is building refineries for it.

The U.S. doesn't have any kind of monopoly on that technology.

[taterguy]

13. Cool. Now that the supply has increased, the price will start decreasing

That's how it works right?