Reply #94: Venz. Embassy Statement to Senate Committee on Energy and Natural... [View All]

[Say_What]

I'm hardly naive enough to believe that simply because an article *quotes* Hugo as saying something, that it is FACT. No doubt the quote was taken out of context as is the habit of so-called journalists who are little more than note takers. A litte research sometimes goes a long way.

<clips>
The Embassy of the Bolivarian Republic of Venezuela in the United States Before the Senate Committee on Energy and Natural Resources
On the Energy Information Administration Annual Energy Outlook 2004

...Venezuela's proven reserves of crude oil and condensates amount to over 78 billion barrels, the largest outside the Persian Gulf. Venezuela's total oil resources are, in fact, much greater by virtue of one of the largest hydrocarbons reserves in the world � the Orinoco Belt, which contains 1.2 trillion barrels of conventional and unconventional crude oil in situ, of which 270- 320 billion barrels are recoverable under today's technology. Venezuela also has 148 trillion cubic feet (tcf) of natural gas reserves and an additional 198 tcf of anticipated reserves. In addition, Venezuela maintains a vast worldwide distribution system and has access to most of the
Caribbean Basin oil storage capacity.

http://www.embavenez-us.org/news.php?nid=51