Venezuela's End Run Around OPEC
"Big deal," many say, "oil is currently in the $60.00's". But there's more here than meets the eye. With guaranteed contracts from 17 buyers and the new price, Chavez can now force OPEC to recognize Venezuela's heavy crude as guaranteed reserves. The key is the price, $10 above the level required to make refining heavy crude economically viable, and since Venezuela's reserves may be as large as 312 billion barrels (50B more than Saudi Arabia's), they would get a huge increase in their pumping allocation. This would guarantee Venezuela's petroleum income for decades to come and fundamentally change the dynamics of world oil markets.
Considering the hostility that the Chavez regime has shown the US in recent years, this turn of events must have Bu$hCo, not to mention the Saudi's, in a snit. Seems that while the US was positioning it's pieces in the competition for access to oil, Venezuela was preparing to change the rules of the game. I'll leave it to wiser heads to determine what effect this will have on the US consumer, but I would say that selling the car is looking better and better all the time.
Looks like Argentina isn't crying for anyone these days, and making powerful political statements, to boot.
When I lived in Colorado, I didn't bring my car out and bought a mountain bike instead. Not only did I get in great shape, but I felt good about not polluting.
You in SFran? Remember reading about the BART... if I lived there, I might not have one either.
Here, were it's 115 degrees in the summer and miles from the nearest grocery store/ doctor/ etc., we don't have a choice. No public tranportation option, either... I understand why you feel this way, though...
we need to invest in some alternative energy for sure. I have heard coal from Montana and ND, corn ethanol. Brazil, i think, is completely energy independent. Lets look at what they are doing. Living in an area like I do (ND) it is not really possible to go without transportation, everything is too spread out. i have never owned a car that gets less than 30 miles a gallon though.
Graeme, Kathleen, it's like I said above, you do what you can, but every method that can be tried should be tried because with Venezuela having a much larger voice in OPEC, things could get very dicey indeed for the US.