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Started By
Message
re: The US now controls 65 billion barrels of proven oil reserves in Venezuela
Posted on 8/29/26 at 8:50 am to OU Guy
Posted on 8/29/26 at 8:50 am to OU Guy
Yeah…I’m wondering if the U.S., as in the federal government, worked a deal to own the mineral rights some areas of Venezuela, thereby parts of Venezuela will be involved in U.S. Federal Leases Sales.
That would mean our government receiving the lease bonus payments and the royalties (12.%), if that’s the case. Would be some interesting outside the box thinking, and would appear to be an overall win for America.
That would mean our government receiving the lease bonus payments and the royalties (12.%), if that’s the case. Would be some interesting outside the box thinking, and would appear to be an overall win for America.
0
Posted on 8/29/26 at 8:58 am to RemyLeBeau
Of course the truth is pathetic to a liberal male
Posted on 8/29/26 at 9:08 am to Bunk Moreland
quote:
I'm just saying people look at total reserves as some savior when the real value is, how much can you get out of the ground at any one time from that source?
And at what price point?
President Trump has Chris Wright in hid cabinet and is very close friends with Harold Hamm. Between the two of them, I’m going to assume he, or whomever negotiated this deal, was advised on price points for producing certain reserves. Meaning, I’m hopeful it isn’t stuff where you need $150/bbl oil for it to make sense for companies to extract.
Posted on 8/29/26 at 9:20 am to ragincajun03
quote:
And at what price point?
The numbers being discussed are $70-$80 per barrel makes it more than worthwhile and the estimated price to get it out of the ground is $10 per barrel
I know this will hurt your oil doom and gloom OT threads so I will pour one out for you
Posted on 8/29/26 at 9:45 am to stout
quote:
I know this will hurt your oil doom and gloom OT threads so I will pour one out for you
I find it very weird how some anonymous posters seem to be obsessed with other anonymous posters.
But ya'll do ya'll.
Posted on 8/29/26 at 10:28 am to stout
Secured control at no cost. That was very generous of the Venezualans. :)
Posted on 8/29/26 at 10:35 am to TJG210
How many penises do you jerk per week?
No hard numbers, just an average week.
No hard numbers, just an average week.
Posted on 8/29/26 at 10:50 am to MightyJoeYoung
quote:
Even if we can build 3, it will take a decade of permitting and osha and construction and planning.
That's the kind of problem you get when the government is actively managing the self inflicted decline.
Posted on 8/29/26 at 11:56 am to SDVTiger
quote:
Of course the truth is pathetic to a liberal male
Keep going little buddy. One day you'll make a coherent post
Posted on 8/29/26 at 11:57 am to RemyLeBeau
That post is very coherent unless you dont like the truth
Posted on 8/29/26 at 2:22 pm to SDVTiger
quote:
That post is very coherent unless you dont like the truth
What truth?
Posted on 8/29/26 at 2:32 pm to RemyLeBeau
quote:
What truth?
That you are a liberal.male who complains about everything OMB
Posted on 8/29/26 at 2:46 pm to SDVTiger
quote:
That you are a liberal.male who complains about everything OMB
Where are my complaints? Prove it
Posted on 8/29/26 at 3:42 pm to stout
quote:
I know this will hurt your oil doom and gloom OT threads so I will pour one out for you
This is such a strange take regarding what he post on the OT.
Posted on 8/29/26 at 4:08 pm to stout
Does this mean we don't want Greenland anymore?
Posted on 8/29/26 at 4:09 pm to RemyLeBeau
quote:
And it is incredibly shitty oil
I want to believe that over 2/3 of US refineries are set up to run the thicker sour crude and it is cheaper to import that oil than to redo refineries to process the light sweet crude. It is also my understanding we export domestic light sweet crude to countries who are set up to run those viscosities.
Posted on 8/29/26 at 4:30 pm to stout
And it's the same type of oil, heavy sour crude, that our refineries are set up to handle. It's very bad for Canada
Posted on 8/29/26 at 4:31 pm to lurking
quote:
Not without modifications from what I understand. Which for 65 billion barrels that seems worth the cost/labor to me.
We have several facilities that can refine Venezuelan crude
Posted on 8/29/26 at 5:15 pm to evil cockroach
quote:
Who is going to pay the oil and service (net 30) to build the infrastructure to access those barrels?
Ain't you never seen the Beverly Hillbillies? Uncle Jed signs contract wt oil company. Oil company does what they have to to get the oil out and sell it. The oil itself pays to extract from ground and pays Uncle Jed plenty. Gee Wiz this ain't rocket surgery.
Posted on 8/29/26 at 5:51 pm to TJG210
Iran is the nothing burger. It’s crippled China and Russia. They’re never gonna get nukes now. In like five people died this is a most successful military campaign in all of history.
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