|
Support nonprofit, independent environmental journalism.
|
|
 Stories About: international politics AND oil AND oil sands AND Venezuela
| Headline |
Author |
Published |
Section |
Chavez makes a play
New scheme for OPEC would make Venezuela's oil reserves world's largest |
David Roberts |
05 Apr 2006 |
Gristmill |
| There's some big stuff happening in Venezuela these days. In an interview with the BBC, President Hugo Chavez announced a bid that could change the entire world oil situation. He wants OPEC to set its long-term oil target price at $50/barrel. Why? At $50, large portions of Venezuela's copious heavy crude in the Orinoco Tar Sands become economically viable, and Venezuela's official oil reserves automatically skyrocket to 312 billion barrels -- surpassing Saudi Arabia's ... |
|
| Topics: international politics, oil, oil sands, Venezuela (all these topics) |
|
|
|
|
©2008. Grist Magazine, Inc. All rights reserved. Gloom and doom with a sense of humor®.