Notice Chavez became president in 1999. Venezuela missed out cashing in on the great rise in oil prices the last eight years. The sheiks, mullahs and Putin would like to thank the people of Venezuela.
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| Caribbean-Latin America |
| Venezuela not to increase oil output |
| 2010-03-18 |
| Venezuela is satisfied with the current oil market situation and the status proposed by the Organization of Petroleum Exporting Countries (OPEC) with regard to output, and would rather not anticipate future increases in oil supply, said Venezuelan OPEC governor Bernard Mommer. "We have witnessed a relative stability in price levels in recent weeks, even months. The OPEC has done a great job. There has been a lot of unity," said Mommer. "It is always good to stabilize oil prices. That's what we want," Venezuela's OPEC governor said. Mommer referred to the fact that oil prices fluctuate between USD 70 and USD 80 a barrel. The Venezuelan official refused to anticipate a change in OPEC's strategy in the next meeting, to be held in September. "We will monitor the situation in August or September," Mommer said. |
| Posted by:Steve White |
| #16 Venezuelan crude is thick, gummy, and tar-like : it is a real bear to refine. And just like PEMEX in Mexico, the state oil company in Venezuela has been driving away foreign expertise and workers with crazy restrictive laws, and has failed to reinvest in their local oil infrastructure. |
| Posted by: Shieldwolf 2010-03-18 20:23 |
| #15 :-) Ed |
| Posted by: Frank G 2010-03-18 19:26 |
| #14 11 trillion tons is 22,000,000 years of US coal production (at 50% carbon content) That should be 22,000 years. And I wasn't stating all the atmospheric carbon when into energy deposits. A good fraction (even after life evolved) went into carbonate formation (limestone). Oil is found in 55 gallon drums and quart plastic bottles. And 12oz Jheri curl bottles. |
| Posted by: ed 2010-03-18 19:20 |
| #13 sillies. Oil is found in 55 gallon drums and quart plastic bottles. Now with Techcleanium™! |
| Posted by: Frank G 2010-03-18 18:57 |
| #12 ed your supposed to be a pro...correlation of most major oil deposits is related to impacts, the big lie is that organics played any role at all, Thor, you will need to show a map correlating asteroid impacts w/ oil fields. No evidence = not a valid basis for a theory. Here is a map of ancient seas/swamps of North America during the Carboniferous period. Notice the shallow sea bed from TX to western Canada. That corresponds to the great TX/OK oil fields, CO oil shale, WY coal fields, Bakken oil sandstones (ND, SD, MT) and Canadian oil/oil sands fields. Notice the swampy areas. They correspond to the great Appalachian coal/oil fields. In fact, these ancient carbon deposits dwarf anything else on earth. from your reply about uniformity, its clear your not visualizing the holistic nature of an impact. Shoemaker Levy was a long string of impactors. Over time (the 4.5 billions years of the earth) and the random nature of comet/asteroids hits, yes the impacts would be spread more or less uniformly with some local granularity. That's basic statistics. Shoemaker Levy was a long string of impactors......all on a trajectory which accounts for uniform dispersion, but at any point the fractured subsurface would capture and hold material disporportionatly to practically every other point within the affected area. So are you saying asteroid formed oil forms in straight line impact fields or singular impact craters? Questions for you: 1. Explain where did the carbon for the asteroid impact theory of oil come from? Where there trillions of tons of graphite just waiting to be pulverized? What about the hydrogen? Where these asteroids big balloons already filled with oil? 2. What has been happening to the ancient atmosphere (>8000ppm CO2) that has declined to today's 350ppm? Where has all that carbon gone? Atmosphere mass: 5x10^15 tonnes Carbon mass at 8000 ppm CO@: 11 trillion tonnes 11 trillion tons is 22,000,000 years of US coal production (at 50% carbon content) or 65 trillion barrels of oil (2600 times the yearly world production). Biotic plant growth and subsidence provide the mechanism for the extraction of atmospheric carbon, burial, and under heat, pressure and time the formation of oil and gas. blast effects not only go up and out, they also go down...hence, fractures, fissures and all geologic features of land in stasis, are disrupted by degree, creating anomalous sub surface features to be misinterpreted by geologists And yet oil is not found in subsurface rifts and cracks. It is found over ancient highly productive seabeds and swamps capped by oil impermeable barriers (clay or salt domes) ..on someones payroll. Yes, it's all a conspiracy. I've done my part. So please Mr Oil Baron, send me my check. |
| Posted by: ed 2010-03-18 16:11 |
| #11 ed your supposed to be a pro...correlation of most major oil deposits is related to impacts, the big lie is that organics played any role at all, which alows the whole scarcity game to go round and round per the circle game. Exon knows but they are not telling you or anyone you know, afterall they have ecylopedias and a huge group of geologists to tell the story to dumb and dumber. from your reply about uniformity, its clear your not visualizing the holistic nature of an impact. Shoemaker Levy was a long string of impactors......all on a trajectory which accounts for uniform dispersion, but at any point the fractured subsurface would capture and hold material disporportionatly to practically every other point within the affected area. blast effects not only go up and out, they also go down...hence, fractures, fissures and all geologic features of land in stasis, are disrupted by degree, creating anomolous sub surface features to be misinterpreted by geologists..on someones payroll. The mineral resources up for grabs out there are staggering. Jeffrey Kargel of the US Geological Survey in Flagstaff, Arizona estimates that even a trifling 1-kilometer-wide metallic asteroid would yield 400,000 metric tons of metal (not just the iron and nickel, but many others including gold and platinum) worth between $300,000,000,000 and $5,000,000,000,000 by 1990 prices. Less widely ballyhooed but potentially much more precious to spacefarers would be the stony asteroids called carbonaceous chondrites. Ceres appears to be one of these. TheyÂ’re rich not only in water but kerogen, that petrochemical ooze that Russia, China, and Brazil currently extract from oil shale. Give or take a zero or two, science writer and space colony advocate Marshall Savage estimates there are at least 1,000,000,000,000,000 tons of kerogen out there. |
| Posted by: Thor Spegum8770 2010-03-18 14:56 |
| #10 You really ought to sell this discovery to Exxon. They, and you, could get rich drilling here. Instead Exxon wastes all their time drilling ancient shallow sea beds where organic matter was deposited over millions of years. Oh, Exxon already is filthy rich? Never mind. BTW, don't you think if oil was created in asteroid impacts that it would be deposited in a uniform layers, much like the iridium layer? Or at least surrounding ancient impact craters? |
| Posted by: ed 2010-03-18 14:32 |
| #9 post your review of Jupiter imagery consider ; An international team of scientists reported this week in Science that when an asteroid or comet about 9 miles in diameter hit the Earth with the energy of 100 trillion tons of TNT, or more than a billion times more explosive power than the bombs that destroyed Hiroshima and Nagasaki, Japan, in WWII, 25 trillion metric tons of rock and debris were blasted up into the Earth's atmosphere" Believe it. No fossils survive a blast of this magnitude....zero zip nada....the oil in the gulf came from the transition under the presence of vacuum temperature and pressure, of some % of the 25 trillion tons of debris that was literally cooked too transition temperatures, achieved by the release of impact energy, contained by vacuums formed as supercavitating waves, the dispersion of the end product, oil, becomes a function of randomness. oil was never a fossil fuel. PERIOD |
| Posted by: Thor Spegum8770 2010-03-18 14:21 |
| #8 ed...experts....lol, bunch of compartmentalists who like the bought and paid for game which reduces to dumb or dumber. check the imagery of oil on Jupiter post shoemaker levy impactor, the pools were spread accross an earth sized diameter staying visible for 9 months before seeping into strata. fisher tropish conditions are created all in a blast impact. no doubt about this one... |
| Posted by: Thor Spegum8770 2010-03-18 14:01 |
| #7 Well Thor, show me the |
| Posted by: ed 2010-03-18 10:55 |
| #6 Great chart and that is a fact. The NON economics of bobo were clear during the mismanagment...should have pumped out the wazoo...like Saudi did, but noooo bobo knows better, keep it in the ground and charge more...its the extortion model. Too bad bobo is going to have to confront the next big realization that oil isnt a fossil fuel at all, but a product of meteor strikes and thus not near as scarce as was thought. Oil in big quantity is just about everywhere...and the "international" will lose the price tool once the facts become known.hearing Virgina is sitting on billions and billions of barrels that were conveniently created by the Chesapeak impactor....an astroid nearly the size of the chixulub impactor if not bigger. |
| Posted by: Thor Spegum8770 2010-03-18 10:52 |
| #5 And the Euros are to blame. Europe Is Unlikely to Match U.S. Shale Boom Soon (Update1) |
| Posted by: phil_b 2010-03-18 09:11 |
| #4 Notice Chavez became president in 1999. Venezuela missed out cashing in on the great rise in oil prices the last eight years. The sheiks, mullahs and Putin would like to thank the people of Venezuela. |
| Posted by: ed 2010-03-18 09:10 |
| #3 Gazprom, Glenmore? |
| Posted by: g(r)omgoru 2010-03-18 08:44 |
| #2 I suspect they won't increase output because they are unable to, not because they are unwilling to. Their 'easy' oil is gone or going fast; although they still have a lot of oil it takes a lot of capital and a lot of technical expertise to exploit it, two things they sorely lack - and which their current behavior is unlikely to attract. |
| Posted by: Glenmore 2010-03-18 07:43 |
| #1 Not to be doom and gloom, but we still need to be oil independent soon. We'll all be raped again this summer at the pump. |
| Posted by: Jith Ghibelline8809 2010-03-18 02:54 |