Dilbert_X
The X stands for
+1,810|6076|eXtreme to the maX
Venezuela oil 'may double Saudi Arabia'

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.
This assessment is far more optimistic than even the best case scenario put forward by President Hugo Chavez.

The USGS team gave a mean estimate of 513bn barrels of "technically recoverable" oil in the Orinoco belt.
Chris Schenk of the USGS said the estimate was based on oil recovery rates of 40% to 45%.

Petroleos de Venezuela SA (PDVSA), Venezuela's state oil company, has not commented on the news.
However, Venezuelan oil geologist and former PDVSA board member Gustavo Coronel was sceptical.
"I doubt the recovery factor could go much higher than 25% and much of that oil would not be economic to produce", he told Associated Press news agency.
Venezuela holds the largest oil reserves outside the Middle East. Saudi Arabia has proven reserves of 260bn barrels.
http://news.bbc.co.uk/2/hi/americas/8476395.stm

Explains why the US has been so interested in Venezuela lately.

OTOH

The USGS don't seem to have much of a clue, at least historically.

Putting 'Saudi Arabia' and 'proven reserves' in the same sentence is always funny.
Русский военный корабль, иди на хуй!
CammRobb
Banned
+1,510|6101|Carnoustie MASSIF
And cue invasion in 3...2...1
PureFodder
Member
+225|6256
Isn't it primarily in oil sands, which are hugely polluting and costs a crap load to refine in comparison to Saudi oil?
Noobeater
Northern numpty
+194|6417|Boulder, CO

PureFodder wrote:

Isn't it primarily in oil sands, which are hugely polluting and costs a crap load to refine in comparison to Saudi oil?
By the sound of it yes, Normal oil reserves have a pretty high recovery rate, oil sands however are just a bit shit.
Harmor
Error_Name_Not_Found
+605|6519|San Diego, CA, USA
Don't worry, Hugo will make a deal with China and/or Russia to get the technology to extract more oil for his dictatorship.
BVC
Member
+325|6666
Investing in alternative/renewable energy - electric cars etc - is the best way for the west to take down it's oil-producing enemies.  Kill the market for oil and you kill both their revenue streams and the source of their power.
ATG
Banned
+5,233|6499|Global Command

Noobeater wrote:

PureFodder wrote:

Isn't it primarily in oil sands, which are hugely polluting and costs a crap load to refine in comparison to Saudi oil?
By the sound of it yes, Normal oil reserves have a pretty high recovery rate, oil sands however are just a bit shit.
Tell that to Shell Oil Co.
Kmar
Truth is my Bitch
+5,695|6571|132 and Bush

CammRobb wrote:

And cue invasion in 3...2...1
rumor mongers
Xbone Stormsurgezz
ghettoperson
Member
+1,943|6620

If it's oil sands, it's hardly worth bothering over, at least for the moment with current technology. I was reading an article in New Scientist about it; depending on what technology you're using to extract it from the sand, it seems to take about eight times as long and you get out fewer barrels of oil per barrel invested in the extraction.
11 Bravo
Banned
+965|5208|Cleveland, Ohio

CammRobb wrote:

And cue invasion in 3...2...1
riveting
FEOS
Bellicose Yankee Air Pirate
+1,182|6381|'Murka

Dilbert_X wrote:

Explains why the US has been so interested in Venezuela lately.
Oh yes. That's why.

It's not nutjobs and their nutjob policies, trying to influence the entire hemisphere.
https://www.worldnetdaily.com/images2/hugo_chavez2.jpg
“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”
― Albert Einstein

Doing the popular thing is not always right. Doing the right thing is not always popular
Flaming_Maniac
prince of insufficient light
+2,490|6677|67.222.138.85

FEOS wrote:

Dilbert_X wrote:

Explains why the US has been so interested in Venezuela lately.
Oh yes. That's why.

It's not nutjobs and their nutjob policies, trying to influence the entire hemisphere.
http://www.worldnetdaily.com/images2/hugo_chavez2.jpg
Kind of a shit argument from a country that manages to influence 2/2 hemispheres.

Not that there aren't countless other arguments.
FEOS
Bellicose Yankee Air Pirate
+1,182|6381|'Murka

Flaming_Maniac wrote:

FEOS wrote:

Dilbert_X wrote:

Explains why the US has been so interested in Venezuela lately.
Oh yes. That's why.

It's not nutjobs and their nutjob policies, trying to influence the entire hemisphere.
http://www.worldnetdaily.com/images2/hugo_chavez2.jpg
Kind of a shit argument from a country that manages to influence 2/2 hemispheres.

Not that there aren't countless other arguments.
How does the fact that we attempt to influence others mean we can't have issues with someone attempting to influence against our interests in our backyard?

It doesn't.

And it certainly doesn't mean that Dilbert's nonsensical oil argument carries any weight.
“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”
― Albert Einstein

Doing the popular thing is not always right. Doing the right thing is not always popular
Flaming_Maniac
prince of insufficient light
+2,490|6677|67.222.138.85

FEOS wrote:

Flaming_Maniac wrote:

FEOS wrote:


Oh yes. That's why.

It's not nutjobs and their nutjob policies, trying to influence the entire hemisphere.
http://www.worldnetdaily.com/images2/hugo_chavez2.jpg
Kind of a shit argument from a country that manages to influence 2/2 hemispheres.

Not that there aren't countless other arguments.
How does the fact that we attempt to influence others mean we can't have issues with someone attempting to influence against our interests in our backyard?

It doesn't.

And it certainly doesn't mean that Dilbert's nonsensical oil argument carries any weight.
Nothing wrong with having something against what they're doing specifically, but you seemed to call them out on the fact that they have an international agenda in general.
FEOS
Bellicose Yankee Air Pirate
+1,182|6381|'Murka

Flaming_Maniac wrote:

FEOS wrote:

Flaming_Maniac wrote:


Kind of a shit argument from a country that manages to influence 2/2 hemispheres.

Not that there aren't countless other arguments.
How does the fact that we attempt to influence others mean we can't have issues with someone attempting to influence against our interests in our backyard?

It doesn't.

And it certainly doesn't mean that Dilbert's nonsensical oil argument carries any weight.
Nothing wrong with having something against what they're doing specifically, but you seemed to call them out on the fact that they have an international agenda in general.
No, I called them out on Chavez being a nutjob and trying to influence the hemisphere in ways that are contrary to our interests. Granted, the last bit was implied, but I figured the regulars here were quick enough to pick up on that.
“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”
― Albert Einstein

Doing the popular thing is not always right. Doing the right thing is not always popular
Flaming_Maniac
prince of insufficient light
+2,490|6677|67.222.138.85
lol right

You are being ridiculously one sided about it. Our interests are our interests and not more valuable than their interests on an international forum, and he's only a nutjob because he's on the other side.
Dilbert_X
The X stands for
+1,810|6076|eXtreme to the maX

FEOS wrote:

It's not nutjobs and their nutjob policies, trying to influence the entire hemisphere.
https://i274.photobucket.com/albums/jj256/Dilbert_X/george-w-bush-picture.jpg

Flaming_Maniac wrote:

Kind of a shit argument from a country that manages to influence 2/2 hemispheres.

Last edited by Dilbert_X (2010-01-24 00:55:21)

Русский военный корабль, иди на хуй!
-Sh1fty-
plundering yee booty
+510|5444|Ventura, California
Have fun filtering the sand out Venezuela.
And above your tomb, the stars will belong to us.
Phrozenbot
Member
+632|6586|do not disturb

That's black gold that they won't be able to touch. Venezuela does not have the money to even invest in future oil ventures, let alone go through all the trouble to get it. Ever since oil crashed, they haven;t been doing so great. They can continue to try and profit from existing oil production, but that won't last forever. They also are in a financial crisis of their own.

I don't like the assertion that we have put Venezuela under the microscope because of oil. That's really a silly argument Dilly. But FM has a point FEOS, maybe we should clean our own house before we go thumbing our nose? Even if Chavez is a complete nut.
Dilbert_X
The X stands for
+1,810|6076|eXtreme to the maX
Venezuela does not have the money to even invest in future oil ventures
China does.
Русский военный корабль, иди на хуй!
Braddock
Agitator
+916|6261|Éire

FEOS wrote:

Dilbert_X wrote:

Explains why the US has been so interested in Venezuela lately.
Oh yes. That's why.

It's not nutjobs and their nutjob policies, trying to influence the entire hemisphere.
Where's the love people!? Chavez is nowhere near as bad as some of the guys America has backed in the past. Yes, he's got flaws. Yes, he appears to be prone to moments of madness in his policies. But I honestly believe he's just a man with his heart in the right place who has lost the run of himself. Evil dictators don't set up socialist supermarkets and restaurants to provide cheap food for the less well-off (a shit idea that will never work but his heart is in the right place). Chavez appears to suffer from extreme paranoia as regards political opponents and that is somewhat understandable given that US-backed coup attempts have been foiled in the past. Chavez has never been a real threat to the US and he's not killing or enslaving people like some Middle Eastern despot, America should just mind their own business when it comes to Venezuelan affairs. So Venezuela has loads of oil? Good for them... hands off America!
Phrozenbot
Member
+632|6586|do not disturb

Dilbert_X wrote:

Venezuela does not have the money to even invest in future oil ventures
China does.
True, but they won't unless they invest heavily in power in Venezuela. They face risk of a devastating power collapse.

Yahoo wrote:

The entire South American country of 28 million people depends to a large degree on the massive Guri Dam, which holds back the Caroni River in southeastern Bolivar state. It supplies 73 percent of the country's electricity by feeding the massive Guri hydroelectric plant — the world's third-largest in power output — along with two other smaller plants.

Chavez said that the dam's water level is now about 33 feet (10 meters) below where it was last year, and if it falls 82 feet (25 meters) more before the dry season ends, "we would be at a standstill."

Chavez said that would force the government to suspend the generation of about 5,000 megawatts of power — causing blackouts for large swaths of Venezuela.
When it comes to mining and drilling, power is critical. Gold mines for example have been shut down in South Africa because the government can't spare all the power they need, and they need 100% power, not 90% or 80%. If power does become a shortage, I think Chavez will pick his people over the Chinese unless he wants to get ousted.

Braddock wrote:

Where's the love people!? Chavez is nowhere near as bad as some of the guys America has backed in the past. Yes, he's got flaws. Yes, he appears to be prone to moments of madness in his policies. But I honestly believe he's just a man with his heart in the right place who has lost the run of himself. Evil dictators don't set up socialist supermarkets and restaurants to provide cheap food for the less well-off (a shit idea that will never work but his heart is in the right place). Chavez appears to suffer from extreme paranoia as regards political opponents and that is somewhat understandable given that US-backed coup attempts have been foiled in the past. Chavez has never been a real threat to the US and he's not killing or enslaving people like some Middle Eastern despot, America should just mind their own business when it comes to Venezuelan affairs. So Venezuela has loads of oil? Good for them... hands off America!
Because he is a dirty socialist pig on our side of the pond. And he called Bush the devil. Can't forget that.
Braddock
Agitator
+916|6261|Éire

Phrozenbot wrote:

Braddock wrote:

Where's the love people!? Chavez is nowhere near as bad as some of the guys America has backed in the past. Yes, he's got flaws. Yes, he appears to be prone to moments of madness in his policies. But I honestly believe he's just a man with his heart in the right place who has lost the run of himself. Evil dictators don't set up socialist supermarkets and restaurants to provide cheap food for the less well-off (a shit idea that will never work but his heart is in the right place). Chavez appears to suffer from extreme paranoia as regards political opponents and that is somewhat understandable given that US-backed coup attempts have been foiled in the past. Chavez has never been a real threat to the US and he's not killing or enslaving people like some Middle Eastern despot, America should just mind their own business when it comes to Venezuelan affairs. So Venezuela has loads of oil? Good for them... hands off America!
Because he is a dirty socialist pig on our side of the pond. And he called Bush the devil. Can't forget that.
You mean George W. Bush, the dirty Capitalist pig?
Phrozenbot
Member
+632|6586|do not disturb

Braddock wrote:

You mean George W. Bush, the dirty Capitalist pig?
Yup, that'd be him. Keyword: capitalist.
Braddock
Agitator
+916|6261|Éire

Phrozenbot wrote:

Braddock wrote:

You mean George W. Bush, the dirty Capitalist pig?
Yup, that'd be him. Keyword: capitalist.
What's the problem? You guys are Socialist now too, where's the love?

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