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Old news,
I've known that for decades
Several of my relatives worked in the oil industry in Venezuela
Venezuela's recognized oil reserves didn't include what is known as "Bitumen", "heavy oil" or "oil sand" (same than in Canada)
One of my relatives always told me that Venezuela's recognized oil reserves didn't include Bitumen for political reasons.
Here's an article from 1990 about it Venezuela Pushing 'Liquid Coal' - NYTimes.com - October 1990
The world's largest deposits of extra-heavy crude and bitumen - 1.2 trillion barrels - lie below the dry, flat plains here in northeast Venezuela. With current technology, largely steam injection, about 22 percent, or 270 billion barrels, can be recovered, making the field equal to slightly more than one-quarter of the world's proven oil reserves.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,766,887 times
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Of course they don't say what kind of oil it is. There is plenty of oil all over the Earth. Canada, Alaska and even the USA have tons of it. There will never be a shortage of oil. The problem is the quality of the oil. The Arabs have a very good quality of crude called "sweet and light" which is very cheap to recover and refine. Most of the rest of the world has heavy "mud" oil that is much more costly to recover and refine. That is why we don't mess with it. It would cost much more to get it and refine it vs buying it from the Arabs.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,766,887 times
Reputation: 3587
Quote:
Originally Posted by Fleet
A ridiculous claim which always turns out to be not so.
No need to anyway, if the libs allow us to drill in our own country.
Many thousands of acres have been opened for drilling and the oil companies have not drilled them because the oil there is harder and more expensive to get than the oil the Arabs have. Gasoline would have to be like $5 a gallon to make the investment worth it.
Sometimes I wonder if anybody has actually ever really sat down and considered what will happen when we run out of oil (which takes millions of years to form from dead creatures). Oh well I suppose we'll leave it for future generations to figure out just as we lean on our ancestors backs today. I guess we've just become too pampered.
I mean, we use oil in paint, food, paper, cars, lights, to keep us warm, to keep us cool, EVERYTHING - when will we stop this addiction?
Sometimes I wonder if anybody has actually ever really sat down and considered what will happen when we run out of oil (which takes millions of years to form from dead creatures). Oh well I suppose we'll leave it for future generations to figure out just as we lean on our ancestors backs today. I guess we've just become too pampered.
I mean, we use oil in paint, food, paper, cars, lights, to keep us warm, to keep us cool, EVERYTHING - when will we stop this addiction?
How many heroin junkies stop using when they have a weeks supply on the night stand? I would guess that they would be the exception to the rule.
We aren't going to stop using oil until we have to or it is easy to. Hopefully the easy part comes first.
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