Reply #29: Venezuela oil 'may double Saudi Arabia'

[Octafish]

Funny. The Saudis think THEY'RE "the Roils."

Venezuela oil 'may double Saudi Arabia'

BBC News
Saturday, 23 January 2010

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%.

CONTINUED...

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

Who knows how many long knifes Hugito has escaped?

Thank you for the heads-up, malaise. Interesting times, indeed. Carajo.