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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (11403)	11/10/2006 10:26:01 PM
From: TobagoJack	Read Replies (1) \| Respond to of 218107

but ... eh... maurice ... like, in your mind, is venezuela a democracy?

To: Maurice Winn who wrote (11403)	11/11/2006 2:12:27 AM
From: Elroy Jetson	Read Replies (1) \| Respond to of 218107

Orimulsion was always a crazy money losing scheme. In 2003 Orimulsion sold for $4.60 a barrel. That's $12.30 per barrel less than the price paid for ultra-heavy oil upgraded to synthetic oil by mixing with lighter crude. In 2004, Venezuela realized they had been duped and stopped making Orimulsion. The value received for Orimulsion was low because it was priced comparable with coal, a lower priced product of lower quality comparable to Orimulsion. Most people in the oil business can't figure out whether BP was somehow making out on this fiasco, perhaps due to royalties, or whether BP scientists simply didn't realize they were destroying value through the Orimulsion process. .