Focus on the solution. US has 15 years on that chart. That doesn’t even get us to 2050 at this rate. Seems to me we need to speed up the EVs. Then the oil becomes irrelevant.
Venezuela produces a little less than 1 million barrels of oil per day. Since most of it is low gravity oil, there is a global deduct on the average price they get on exports. Add to that, the higher transportation and diluent processing costs; thus, very little profit is made---perhaps $40/barrel. Hence, if half their oil is exported, the country makes about $20 million per day. The U.S. probably spends more on the military we have in the Caribbean chasing the narco boogeymen.
So, what about all those proven reserves? The oil is miles underground and barely economic to extract at today’s (and tomorrows expected) price.
Bottom Line: It would take decades (if not centuries) to extract all that proven oil and would not be all that profitable to do so. And how would we do it? A national U.S. oil company in place that’s run like the post office?
Post WWII: Show me one country that has stolen another country's oil? Saddam tried it in 1990. He got 0 Barrels, got pissed, and torched Kuwait's oil fields on the way out which temporarily raised prices.
Oil is money. Only incidentally does it burn. Chevron tried to make a deal with Venezuela for oil, WHICH THEY BELIEVE THEY CAN GET OUT OF THE GROUND NO TROUBLE, and Trump stopped them. Why? Because some of HIS friends want it, and he had BETTER get it for him. And if Saudi Arabia does not get its hands on at least some of it to control, the desert is going to each the richest family on earth. Venezuela is not a bust. And if anybody thinks this is a drug war, they're on something.
Film by Robert Redford 50 years ago ( his character is a CIA reader looking for threatening plots around the world 🌎 and barely escapes assassination BY THE CIA for putting facts in literature together to conclude: “it’s all about the oil.” “Three Days of the Condor” on target 🎯 then, on 🎯 now. Streaming now.
"Oil, Power, and War: A Dark History" by Matthieu Auzanneau. "Trade is War: The West's War Against the World" by Yash Tandon.
I will absolutely have a look. Thank you!
Focus on the solution. US has 15 years on that chart. That doesn’t even get us to 2050 at this rate. Seems to me we need to speed up the EVs. Then the oil becomes irrelevant.
So, how are we going to get that oil?
Venezuela produces a little less than 1 million barrels of oil per day. Since most of it is low gravity oil, there is a global deduct on the average price they get on exports. Add to that, the higher transportation and diluent processing costs; thus, very little profit is made---perhaps $40/barrel. Hence, if half their oil is exported, the country makes about $20 million per day. The U.S. probably spends more on the military we have in the Caribbean chasing the narco boogeymen.
So, what about all those proven reserves? The oil is miles underground and barely economic to extract at today’s (and tomorrows expected) price.
Bottom Line: It would take decades (if not centuries) to extract all that proven oil and would not be all that profitable to do so. And how would we do it? A national U.S. oil company in place that’s run like the post office?
Post WWII: Show me one country that has stolen another country's oil? Saddam tried it in 1990. He got 0 Barrels, got pissed, and torched Kuwait's oil fields on the way out which temporarily raised prices.
Follow the money, not the oil!
Oil is money. Only incidentally does it burn. Chevron tried to make a deal with Venezuela for oil, WHICH THEY BELIEVE THEY CAN GET OUT OF THE GROUND NO TROUBLE, and Trump stopped them. Why? Because some of HIS friends want it, and he had BETTER get it for him. And if Saudi Arabia does not get its hands on at least some of it to control, the desert is going to each the richest family on earth. Venezuela is not a bust. And if anybody thinks this is a drug war, they're on something.
Film by Robert Redford 50 years ago ( his character is a CIA reader looking for threatening plots around the world 🌎 and barely escapes assassination BY THE CIA for putting facts in literature together to conclude: “it’s all about the oil.” “Three Days of the Condor” on target 🎯 then, on 🎯 now. Streaming now.