Venezuela’s Whopping Oil Reserves
A new assessment by the U.S. Geological Survey says that Venezuela's oil reserves could be double those of Saudi Arabia, a finding that could significantly alter the world's geopolitical stage and crude oil market.
A new assessment by the U.S. Geological Survey says that Venezuela’s oil reserves could be double those of Saudi Arabia, a finding that could significantly alter the world’s geopolitical stage and crude oil market. –JCL
Wait, before you go…The BBC:
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.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
The economic pain caused by the coronavirus becomes more painfully clear.
The viral outbreak is threatening to crimp worldwide economic growth and hurt profits and revenue for a wide range of businesses.
The three major indexes set more record highs than in 2018 and kept the longest bull market for stocks going.
The former Fed chairman’s obituaries leave out how his policies devastated lives in the 1980s and underwrote the 2008 financial crisis.
Attendance at last year's investment forum was overshadowed by the assassination of Washington Post columnist Jamal Khashoggi.
There are currently no responses to this article.
Be the first to respond.