Hugo Chavez will be hosting OPEC at the beginning of June. Chavez will be asking OPEC to officially recognize that Venezuela has larger oil reserves than Saudi Arabia. This is monumental.
The U.S. Department of Energy has in their own previously secret estimation put Venezuelas's oil reserves at 5 times that of Saudi Arabia's.
Beyond bragging rights, this will shift power over petro and financial flows from the misogynist grip of Arabian sheik-freaks that George so loves to kiss and hold hands with to the that of one of the U.S.'s favorite latino progressives, and a populist at that.
High oil prices from Bush et al's Persian incursions are making Chavez's extra heavy crude oil reservoirs viable for extraction. Venezuela seems poised to replace Saudi Arabia as the world's swing producer with all the juice such a pivotal role plays.
Tomorrow's oil is Chavez's oil - until of course we take it away from him. Or rather, until we take him away from Venezuela.
2 comments:
So, perhaps the Bushies aren't so concerned after all with China's moving in on the Saudis? Perhaps they'll end up being just another Middle East conquest...when the time is right, of course.
As for Venezuela...muy interesante. More demonization to come from the White House when it comes to Senor Chavez, no doubt.
I too dare fathom a guess of more demonization galore. He'd be the first statesman of color to challenge major American corporate interests and live to tell his grown grandchildren about it - Fidel aside. One precedent is one too many. Two would be suicide according to the mindsets of those gripping the levers of power.
Hmm, China movin' in on the Saudis? They haven't a chance in the short to medium term - or so I guess. How could they?
Sure the Saudis kinda own us...but in the final analysis we own the bejesus outta them.
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