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BP Announces that Venezuela Now Have the Largest Oil Reserves in the World

Oilprice.com -- BP has just released its annual Statistical Review of World Energy in which it claims that Venezuela now holds the largest proven oil reserves in the world, overtaking the original leader Saudi Arabia.

The South American nation’s oil deposits were increased from last year’s figure to an estimated at 296.5 billion barrels, more than Saudi Arabia’s 265.4 billion barrels.

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Submitted Jun 15, 2012 By: NOTSOGRN

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sparky808 Champion Author Honolulu Posts:3,013 Points:600,660 Joined:Sep 2011	Message Posted: Jun 16, 2012 3:17:03 PM Ignore sparky808 Report Abuse Thank you for posting.
gravityhurts Champion Author North Carolina Posts:4,103 Points:940,205 Joined:Sep 2008	Message Posted: Jun 16, 2012 4:56:36 AM Ignore gravityhurts Report Abuse interesting...now drill it!
melvindale Champion Author Michigan Posts:1,438 Points:351,230 Joined:Jun 2011	Message Posted: Jun 16, 2012 12:10:34 AM Ignore melvindale Report Abuse I suggest building several refineries in Venezuela. At the same time build pipelines for the finished products to the USA. All this in exchange for a guarantee from Venezuela that their government and workforce remain stable, say for 25 years, and that the USA gets all the product we want at reasonable prices. If there is leftover after the USA takes its share, then they can sell it on the open market - but not to any country the USA imposes economic sanctions on. The USA should then embark upon a program where we are completely free from imported energy supplies by the time the 25 years are up. Independent energy supplies should start with solar photovoltaic sources. Second should be wind energy generation that does not kill birds. (Vertical Axis Wind Turbines.) Third should be Geothermal Energy sources. Fourth should be water generation that does not impede fish from spawning. Tidal Generators are one. Wave or Surf Generators are another. Last would be flow generator that does not use a dam; it is like a wind generator in water flow. Like a river, or an ocean current. Fifth and Last should be Natural Gas or Methane powered generators that would only make up shortfalls for when other sources are offline. i.e. solar at night, or wind in calm. Gone would be coal fired, nuclear, or anything else producing pollution, radioactive waste, or (excessive) greenhouse gas emissions. Current greenhouse gases should be reduced by planting a lot of trees all over the planet to capture excess CO2 and store it for (possibly) ever (or until some idiot burns the wood/tree). These trees can also be used to reduce power consumption by providing shade, reducing the need for air-conditioning. Shading pavement in urban areas will reduce the temperature spike found in the summer for these same urban areas. (Heat spike due to heat stored by and given off of cement, asphalt, and gravel road surfaces as well as parking lots.) (Heat spike also caused by the roofs of building, but these will be generating electricity by being covered with solar cells, thus further reducing heat spike, as well as making the electricity required for air conditioning without generating heat.) All electricity sources generate heat with the exception of solar, wind, and water. Geothermal does not generate heat by itself, but instead releases heat into the atmosphere that would have otherwise remained below ground.
TheSicilian Champion Author Jacksonville Posts:5,394 Points:1,472,675 Joined:Feb 2009	Message Posted: Jun 15, 2012 11:03:22 PM Ignore TheSicilian Report Abuse share it with us
Toppers Champion Author Atlanta Posts:9,022 Points:2,472,645 Joined:Mar 2005	Message Posted: Jun 15, 2012 11:02:03 PM Ignore Toppers Report Abuse down the road
badspots Champion Author Houston Posts:2,081 Points:677,185 Joined:Feb 2011	Message Posted: Jun 15, 2012 11:00:54 PM Ignore badspots Report Abuse So?
DUKE_CITY Rookie Author Albuquerque Posts:88 Points:170,355 Joined:Oct 2005	Message Posted: Jun 15, 2012 10:59:29 PM Ignore DUKE_CITY Report Abuse Wonder if we opened up all of our known supply, if we wouldn't be on top?
crewsing Veteran Author Virginia Posts:391 Points:85,030 Joined:Feb 2012	Message Posted: Jun 15, 2012 10:58:37 PM Ignore crewsing Report Abuse Now all of the sudden they are finding all of this oil???
mabrams184 Champion Author Lexington Posts:2,114 Points:536,715 Joined:Aug 2011	Message Posted: Jun 15, 2012 10:54:52 PM Ignore mabrams184 Report Abuse how are they now finding so much "new" oil?
Chris46 Champion Author Dayton Posts:23,716 Points:2,084,490 Joined:Sep 2005	Message Posted: Jun 15, 2012 10:54:51 PM Ignore Chris46 Report Abuse Are we friends with Venezuela?
mstearno Champion Author Dayton Posts:8,080 Points:1,734,140 Joined:Jan 2008	Message Posted: Jun 15, 2012 10:54:12 PM Ignore mstearno Report Abuse I thought we did? maybe we knock off chavez and add a start to our flag?
tidalwave3 Champion Author Tallahassee Posts:1,309 Points:1,466,400 Joined:Jun 2008	Message Posted: Jun 15, 2012 10:52:59 PM Ignore tidalwave3 Report Abuse Doesn't Wyoming have a 3.1 Trillion barrel reserve by itself... Oh Nobama won't let us tap into that one :(
kingpin6 Champion Author Arkansas Posts:2,920 Points:1,561,725 Joined:Jul 2007	Message Posted: Jun 15, 2012 10:50:37 PM Ignore kingpin6 Report Abuse Looks to me like they should have had somebody proofread the headline. "Venezuela now have" is very poor grammer.
gmcgas Champion Author Atlanta Posts:5,968 Points:1,716,345 Joined:Mar 2004	Message Posted: Jun 15, 2012 10:47:51 PM Ignore gmcgas Report Abuse AND?
24541 Champion Author Virginia Posts:1,109 Points:1,793,715 Joined:Mar 2004	Message Posted: Jun 15, 2012 10:46:58 PM Ignore 24541 Report Abuse How much longer can Hugo survive with cancer?
kelly1016 Champion Author Victoria Posts:1,953 Points:352,940 Joined:Oct 2011	Message Posted: Jun 15, 2012 10:44:14 PM Ignore kelly1016 Report Abuse Yep until someone finds more somewhere else
SparkieMi Champion Author Kalamazoo Posts:3,277 Points:591,330 Joined:Sep 2011	Message Posted: Jun 15, 2012 10:40:54 PM Ignore SparkieMi Report Abuse Interesting....
CAroadrunner101 Champion Author California Posts:1,837 Points:1,318,125 Joined:Mar 2009	Message Posted: Jun 15, 2012 10:40:02 PM Ignore CAroadrunner101 Report Abuse so what...
Blue48 Champion Author Illinois Posts:7,320 Points:1,640,870 Joined:Feb 2007	Message Posted: Jun 15, 2012 10:39:07 PM Ignore Blue48 Report Abuse WHATEVER!
MRHONEST Champion Author Illinois Posts:2,212 Points:1,677,180 Joined:May 2007	Message Posted: Jun 15, 2012 10:35:02 PM Ignore MRHONEST Report Abuse Very interesting--------------
iceman11 Champion Author Ontario Posts:2,715 Points:536,425 Joined:Feb 2011	Message Posted: Jun 15, 2012 10:34:14 PM Ignore iceman11 Report Abuse Interesting
rxman1 Champion Author Toledo Posts:9,563 Points:1,864,820 Joined:Nov 2007	Message Posted: Jun 15, 2012 10:33:58 PM Ignore rxman1 Report Abuse The key word here is estimated. Whose estimate?
crashintuc34 Champion Author Tucson Posts:4,062 Points:813,840 Joined:May 2010	Message Posted: Jun 15, 2012 10:31:45 PM Ignore crashintuc34 Report Abuse El Presidente Hussein should be happy to hear this.
JimVP All-Star Author Chicago Posts:632 Points:155,710 Joined:Sep 2011	Message Posted: Jun 15, 2012 10:30:18 PM Ignore JimVP Report Abuse Seems we were supposed to run out of Oil back around 1988, but it seems they keep on finding more. Can we believe any of them or do they give us artificial reserves when they really have no idea.
AUREOLAE Champion Author Oakland Posts:3,364 Points:801,165 Joined:Jan 2004	Message Posted: Jun 15, 2012 10:30:07 PM Ignore AUREOLAE Report Abuse Should embolden Chavez's rhetoric.
menagerie1013 Champion Author San Diego Posts:2,365 Points:692,240 Joined:Apr 2011	Message Posted: Jun 15, 2012 10:27:05 PM Ignore menagerie1013 Report Abuse Everyone claims they have the biggest.
nightworker998 Champion Author Maryland Posts:1,812 Points:668,365 Joined:Mar 2009	Message Posted: Jun 15, 2012 10:26:23 PM Ignore nightworker998 Report Abuse The largest oil reserves in another country where the leadership doesn't like America!!!
Dsin44 Champion Author Abbotsford Posts:1,272 Points:273,185 Joined:Apr 2011	Message Posted: Jun 15, 2012 10:25:01 PM Ignore Dsin44 Report Abuse Venezuela- $0.18 per gallon ($0.05 per liter)
robaloma Champion Author Houston Posts:2,616 Points:694,550 Joined:Feb 2011	Message Posted: Jun 15, 2012 10:23:24 PM Ignore robaloma Report Abuse wow?
200porter Champion Author Toronto Posts:2,080 Points:544,760 Joined:Sep 2011	Message Posted: Jun 15, 2012 10:23:13 PM Ignore 200porter Report Abuse Interesting
heysailor Champion Author Pittsburgh Posts:9,597 Points:2,335,595 Joined:Mar 2006	Message Posted: Jun 15, 2012 10:21:39 PM Ignore heysailor Report Abuse Bet that that makes Chavez happy.
Dsin44 Champion Author Abbotsford Posts:1,272 Points:273,185 Joined:Apr 2011	Message Posted: Jun 15, 2012 10:21:25 PM Ignore Dsin44 Report Abuse how much is a gallon of gas there
abcdMA Champion Author Worcester Posts:7,937 Points:1,577,905 Joined:Nov 2008	Message Posted: Jun 15, 2012 10:21:15 PM Ignore abcdMA Report Abuse and again, another country with oil who is not one of our friends
rocky23hy Champion Author Massachusetts Posts:2,620 Points:1,863,310 Joined:Sep 2003	Message Posted: Jun 15, 2012 10:15:14 PM Ignore rocky23hy Report Abuse And now lets all tune in to the Hugo Chavez show... or should we be saying the former Chavez show! Join with me as I sing... good night Irene, good night Irene, I'll see you in my dreams.
mrbee Champion Author Little Rock Posts:3,769 Points:2,468,605 Joined:Oct 2005	Message Posted: Jun 15, 2012 10:14:28 PM Ignore mrbee Report Abuse More for Chavez.
1Casey Champion Author Albany Posts:6,543 Points:1,793,910 Joined:Jun 2004	Message Posted: Jun 15, 2012 10:10:58 PM Ignore 1Casey Report Abuse And ?
drz614 Champion Author Harrisburg Posts:2,314 Points:600,545 Joined:Aug 2011	Message Posted: Jun 15, 2012 10:04:41 PM Ignore drz614 Report Abuse ok
Dodge_Me Champion Author Atlanta Posts:2,214 Points:558,480 Joined:Mar 2006	Message Posted: Jun 15, 2012 10:04:39 PM Ignore Dodge_Me Report Abuse Gee, every one to claim the biggest supply
serrog Champion Author Nova Scotia Posts:5,579 Points:1,515,055 Joined:Oct 2008	Message Posted: Jun 15, 2012 10:03:39 PM Ignore serrog Report Abuse Maybe so
carpenter4u Champion Author Virginia Posts:2,436 Points:618,645 Joined:Jul 2011	Message Posted: Jun 15, 2012 10:01:57 PM Ignore carpenter4u Report Abuse it is all a guessing game
goldrose1 Champion Author Cleveland Posts:10,956 Points:1,927,755 Joined:Feb 2005	Message Posted: Jun 15, 2012 9:59:05 PM Ignore goldrose1 Report Abuse hummmmmmm
Thomtec Champion Author Nashville Posts:2,484 Points:611,070 Joined:May 2011	Message Posted: Jun 15, 2012 9:58:42 PM Ignore Thomtec Report Abuse Ok
DrCashFlow Champion Author Massachusetts Posts:7,079 Points:1,630,050 Joined:Jun 2008	Message Posted: Jun 15, 2012 9:56:24 PM Ignore DrCashFlow Report Abuse good thing their dictator won't be alive much longer
JDisNo1 Sophomore Author Twin Cities Posts:129 Points:89,120 Joined:Jan 2012	Message Posted: Jun 15, 2012 9:56:00 PM Ignore JDisNo1 Report Abuse ok, let's buy it from them!
sickhp Champion Author San Antonio Posts:1,389 Points:519,830 Joined:Sep 2011	Message Posted: Jun 15, 2012 9:55:48 PM Ignore sickhp Report Abuse Wow that is lots more oil for use and we need to continue to drill baby drill.
Busymomma56 Sophomore Author Utah Posts:224 Points:52,120 Joined:Mar 2012	Message Posted: Jun 15, 2012 9:55:36 PM Ignore Busymomma56 Report Abuse Turn it loose!
WIPACKERFAN Champion Author Chicago Posts:8,814 Points:1,845,400 Joined:Aug 2005	Message Posted: Jun 15, 2012 9:53:15 PM Ignore WIPACKERFAN Report Abuse OK
zaq001 Champion Author Atlanta Posts:3,995 Points:1,476,000 Joined:Oct 2008	Message Posted: Jun 15, 2012 9:53:14 PM Ignore zaq001 Report Abuse ok
DustyHorse Champion Author Virginia Posts:6,098 Points:1,393,795 Joined:Oct 2008	Message Posted: Jun 15, 2012 9:52:16 PM Ignore DustyHorse Report Abuse So much for peak oil
BigBob12345 Champion Author Gasbuddy Posts:1,521 Points:304,730 Joined:Aug 2011	Message Posted: Jun 15, 2012 9:49:32 PM Ignore BigBob12345 Report Abuse ok???????????