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Politics : Politics of Energy

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To: Eric who wrote (46988)	1/28/2014 7:51:15 PM
From: Maurice Winn	of 86356

Venezuelan oil is just fine, at the right price. Venezuelans enjoy almost free fuel because Venezuelan oil is good for making vehicle fuel. Anything is good for making vehicle fuel if the carbon source is cheap enough. Athabasca tars and Orinoco goo are both fine feedstocks at the right price. The idea that oil is "riches" just lying there waiting to be banked is not true. It all needs processing to varying extents. BP Oil International [my old company] had a product "Orimulsion" made from Orinoco goo, en.wikipedia.org but it was never developed commercially because the price of better crude dropped so much from the high of $40 a barrel at the beginning of the 1980s to $10 a barrel by 1986. Now, the Venezuelans are communist so it's not happening either. They stole the oil industry from foreigners so despite oil being $100 a barrel, they are impoverished and ridden with crime. <The trouble with Venezuelan oil is it's specific gravity and what it has in it.. Nasty stuff. The good stuff is long gone.. > People can burn coal, tar, trees, anything, and clean up the exhaust as much as is required. Chemical processes can start anywhere too. It's all just a matter of relative costs to find the best way to do something. <It's a "one time" gift that should be used wisely and husbanded for the long run, not some "Quick Buck" for a few..> Guessing "the long run" is difficult. People who husbanded their trees 100 years ago to sell as firewood "in the long run" lost their shirts as cheaper fuels were developed. Same with coal. "Wise" is best determined by price. I guess you think some government department of wise husbands should determine "the long run". I prefer the free market to decide the value of oil. Leave it to the owners of resources to decide when to sell them and at what price. Remember what Sheik Yamani pointed out about the ends of the oil age and stone age [which didn't end for lack of stones]. Somebody who husbanded their stones, whether wisely or not, did not do well. The government department of conservation of stones will have ruled a poor society. Mqurice

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