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Re: [greenyes] More oil from where?


Wayne,
Importing significantly more crude from Venezuela is unlikely in the near future. The Bush Administration and Chavez Administration are, to put it mildly, on bad terms. Chavez has even threatened to reduce or cut off oil shipments to the US because of what he sees as US support for his critics. That's not very likely either, since Venezuela's production is heavily geared to the US market and not easily and cheaply retooled and the US market not easily replaced. Also, however, as I understand it, Venezuela crude is not nearly of the same grade and quality as Saudi crude, and to take in more would require changes in US refineries. Venezuela sells more heating oil to us than anything else.
Hope this helps.
Regards,
Keith

Wayne Turner wrote:

Headlines in Monday newspapers and on several web news services stated
that President Bush was going to ask the Saudi crown prince to increase
oil production, ostensibly to increase worldwide supply and thus lower
prices. According to 2003 DOE statistics, the US imports about
1,700,000 bbl/day of crude oil from Saudi Arabia and 1,600,000,
1,500,000, 1,200,000 bbl/day from Mexico, Canada and Venezuela,
respectively. Can anyone tell me why the same overture Bush made to the
Saudis wouldn't be made to these other 3 oil exporting countries with
whom we do a lot of business, all of which are in more politically
stable areas of the world and certainly much closer to home? Based on
an NPR report I heard, Saudi Arabia is already producing oil at their
infrastructure's capacity, so it doesn't appear to be an available
capacity issue.

Wayne





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Sr. Keith Edward Ripley
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