$200 Oil, here we come ???

[Mega]

Read this:-
http://ap.google.com/article/ALeqM5h...yT7gAD8UNMHC00
Mike

[metalman]

Re: $200 Oil, here we come ???

Read this:-
http://ap.google.com/article/ALeqM5h...yT7gAD8UNMHC00
Mike

so what's old hugo without usa $$$??? nuthin' who's he gonna sell his oil to? besides joe kennedy, that is.

[Guest]

Re: $200 Oil, here we come ???

Whatever the US's present day failings, and they are many, as we are not the nation we used to be 40 years ago - Chavez is an out-and-out nut-case tin-pot dictator in his own country.

He is talking about Venezuela's oil being exploited by Exxon and other majors, while he is giving away vast amounts of Venezuela's oil to widen its' "sphere of influence" without the slightest consultation with Venezuela's people as to whether they approve of this.

Despite being one of the wealthiest countries in the Americas in terms of resources (even though the wealth was horribly misallocated, at least they HAD it), under this "enlightened tin-pot's" tutelage the country is rapidly sliding into dilapidated status, and a dictatorship too, just to top off the roster of it's newfound "blessings".

If I were Venezuelan, I'd be saying "anything but Chavez", and I'd doubtless have their security apparatus all over my ass for the privilege of speaking up. I can imagine a few of the tinfoil hat crowd here shuddering at the thought of speaking out in a real police state though. "Pragmatism rules", or something to that effect. Admittedly that notion does get very appealing when things really start getting repressive.

[nathanhulick]

Re: $200 Oil, here we come ???

I am certainly not an expert on the subject, but I remember hearing somewhere that the oil that comes from Venezuela can only be refined here in the United States, for the most part. Apparently there are different kinds of oil, I'm sure everyone has heard phrases such as "light, sweet crude" and such. Someone once told me that the only oil refineries in the world that were built to refine the type of oil that comes out of Venezuela are here in the US.

I cannot really say that I am 100% sure this information is accurate, but the source seemed reliable at the time.

[Slimprofits]

Re: $200 Oil, here we come ???

I am certainly not an expert on the subject, but I remember hearing somewhere that the oil that comes from Venezuela can only be refined here in the United States, for the most part. Apparently there are different kinds of oil, I'm sure everyone has heard phrases such as "light, sweet crude" and such. Someone once told me that the only oil refineries in the world that were built to refine the type of oil that comes out of Venezuela are here in the US.

I cannot really say that I am 100% sure this information is accurate, but the source seemed reliable at the time.

Venezuela's crude is heavy and/or sour and it's main markets are on the Gulf Coast.

Hovensa L.L.C.

Hess Corporation - Refining and Marketing

HOVENSA, a joint venture between a subsidiary of Hess Corporation and a subsidiary of Petroleos de Venezuela, S.A. (PDVSA) operates a world-class merchant refinery in St Croix, USVI. The facility is one of the most modern refineries in the United States and, with crude oil processing capacity of 495,000 barrels per day (BPD), is one of the largest in the world.

The refinery is strategically located to serve gasoline and heating oil markets in the both the U.S. Gulf Coast and along the eastern seaboard, providing a ready market for finished products. The refinery is capable of receiving and processing crudes from all over the world, although the majority of crude is supplied from Venezuela.

[rtchoke]

Re: $200 Oil, here we come ???

http://www.humanevents.com/article.php?id=23222

Although Venezuela still is a significant oil supplier to the U.S. its relative importance has been decreasing during the last 5 years, going from second to fourth place among U.S. import sources. This is due to the loss of production capacity of the Venezuelan oil industry, a decline brought about by the politicization of the state-owned petroleum company under Chavez. Not only has production capacity declined but also half of the Venezuelan oil exports to the U.S. can only be refined in the United States due to its physical properties. This means that Chavez cannot easily sell this oil to alternative clients such as China or India. For this to be possible these countries would have to build refineries capable of processing Venezuelan oil, something that would take at least three to four years to accomplish, even if they started today.

[blazespinnaker]

Re: $200 Oil, here we come ???

Read this:-
http://ap.google.com/article/ALeqM5h...yT7gAD8UNMHC00
Mike

One of the great accomplishments of the Iraq war was the artificial boost to oil prices. I think the greatest thing for the world right now would be for Venezuela to shut off their oil to the US (though, sadly, I doubt it will have that much of an impact to the US, it would just add a middle man fee as someone sells their "other" oil to the US but uses the Venezuela heavy oil)..

$200 dollar oil would be awesome. The sooner we move away from it, the sooner the world will no longer be beholden to these irrational 3rd world countries who's influence has gone far beyond their capabilities.

[BlackVoid]

Re: $200 Oil, here we come ???

Be careful what you wish for because you may get it. And it is not going to be pretty. Oil has a great return on energy invested, has hundreds of uses and all the infrastructure was built around it. It was not replaced, because there is NO REPLACEMENT. NONE. All the alternatives are worse in every respect.

But $200 dollar oil is coming soon, regardless of what Chavez does.