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Politics : Politics of Energy

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To: Maurice Winn who wrote (46975)	1/28/2014 4:46:36 PM
From: Eric	Read Replies (1) of 86356

Venezuelans are seriously poor. They have a huge surplus of oil. They keep prices really really cheap at home instead of selling it overseas for a fortune and being better off. In Canada decades ago when we were there [and probably still] the same argument was made that Canadians should have cheap oil instead of letting producers sell it to Americans for big profits. Yup, the Venezuelans are poor.. They could be very wealthy as a country such as my Norwegian relatives are. The trouble with Venezuelan oil is it's specific gravity and what it has in it.. Nasty stuff. The good stuff is long gone.. I was over visiting my dad the other day and one of his neighbors is a recently retired senior petroleum geologist for Shell. He was way up in management of his department and we had a good discussion of the problems some of these countries are facing. He is on board with the subject of "peak oil" and I found it enlightening what he said about the subject. It's amusing that the USA has absurd export control laws. It shows they are likely to go down the Zimbabwean gurgler too, because they don't understand economics and will do very bad things when the time is right. The export controls were introduced at a time when there was no incentive to export so it was probably a law which hurt a few people but had no general effect. Now that there's a general effect, there's some squawking. But ignorant Americans will squawk about letting "our oil" go overseas. They don't want a Keystone pipeline but they want oil? They want Canadians to move the oil to the coast and sell it to China but they want oil? I don't find it amusing.. It's a "one time" gift that should be used wisely and husbanded for the long run, not some "Quick Buck" for a few.. It is a critical strategic resource. Eric

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