Chavez: Big oil firms to leave Venezuela

The faster they force us to replace oil with an alternative fuel, the faster they put themselves out of business.

 

This is excellent news, but really not surprising. Cutting the western oil companies out will mean that their political clout at home will wane. Their revenues will fall as the remaining fields they own decline. This will force us to move on to better, more sustainable things at a faster pace than otherwise.

 

After the cutting of the oil umbilical cord, they will find out just how much revenue they just lost and we will be getting closer to seeing a more renewable fuels future. We might even (hear) about a Volt II or a Dodge Electraviper LOL

It is good news it will make us get off the pot and DO SOMETHING

 

<div class='quotetop'>QUOTE(HBO6 @ Jun 25 2007, 10:30 AM) [snapback]467569[/snapback]</div>

Another Jimmy Carter certified election gone to pieces. You gets what you votes for and the people of Venezuela are about to get what they voted for. No free press. Declining oil revenue. Go Chavez Go. Maybe Danny Glover will give back that $18mil he took? I love it. Tell me can they convert oil into foodstuffs yet :lol:

I know, we can start another war for oil and invade Venezuela

 

<div class='quotetop'>QUOTE(dbermanmd @ Jun 25 2007, 12:47 PM) [snapback]467692[/snapback]</div>

Yeah, it's called "Corn".

<div class='quotetop'>QUOTE(dbermanmd @ Jun 25 2007, 12:47 PM) [snapback]467692[/snapback]</div>

Too damn hot and humid down there. They're still exporting a lot of cocaine, maybe we could run cars off of that. Talk about an energy crop.

 

<div class='quotetop'>QUOTE(dbermanmd @ Jun 25 2007, 01:47 PM) [snapback]467692[/snapback]</div>

Why is it so bad that Venezuela wants control of it's own natural resources? The Saudi's did the same thing in the 80's. Why sell it cheap now and let Exxon get the money when they can sell oil for 2x the price in 5 years, or 10x the price in 15 years. Sure Exxon will be pissed, the U.S. Government will be pissed but China, Iran, and Russia will send over some people to help them get their fields up and running. I'm sure they will have no problem finding a market for their oil. Heck, if they opened up their field for new contracts a day after they kicked Exxon out they would get a line around the block of oil companies ready to invest.

 

<div class='quotetop'>QUOTE(dbermanmd @ Jun 25 2007, 11:47 AM) [snapback]467692[/snapback]</div>

Yes, PLEASE bring your gun down there and make a war. You'll get shot and PriusChat will be MUCH BETTER OFF without you!!

 

Maybe Chavez wouldn't be so resistant to Big Oil if they hadn't been cheating Venezuela out of taxes and revenues for so long.

If Big Oil were smart, they'd be getting in to solar, wind, geothermal and anything else the might be a future power source big time starting yesterday. That's the only way they're going to maintain their monopoly.

Me? I'm putting photovoltaic on my roof this year. I'll be able to add to the system and my use increases......like if at some point there is a Prius EV or equivalent.

Hmm. Maybe I should be convering my applicance to electric. Instead of putting in an on-demand gas water heater....maybe it should be an electric one.

 

<div class='quotetop'>QUOTE(wiiprii @ Jun 25 2007, 05:11 PM) [snapback]467835[/snapback]</div>

Don't you know that chickenhawks don't actually have the balls to fight for themselves.

<div class='quotetop'>QUOTE(HBO6 @ Jun 25 2007, 09:30 AM) [snapback]467569[/snapback]</div>

Bad for my Exxon and BP stock, but GOOD FOR VENEZUELA!

 

<div class='quotetop'>QUOTE(jhinton @ Jun 25 2007, 02:48 PM) [snapback]467823[/snapback]</div>

After a company loses maybe $500M because Venezuela nationalizes their assets, you think somebody else would risk losing that kind of money? That's almost like investing in Enron after we found out about their crazy accounting systems.

 

You're discounting the fact that this is a slap in the face to American oil companies by someone who is quite vocally opposed to the way the US gov't and oil companies do business. Chinese oil companies and many other countries WILL be eagar to do business with them, and don't view the US shunning as a reason for the investment to be risky. Rather, it's like a another cash registor opening up and those in other lines WILL rush over to it.

 

<div class='quotetop'>QUOTE(Darwood @ Jun 26 2007, 12:48 PM) [snapback]468465[/snapback]</div>

This isn't just hitting the US. It is also affecting companies from Norway, Great Britian, and France.

Nutjobs like Chavez and those in the middle East are why I bought my Prius. I want them to have as few of my gas dollars as possible.

 

Me too.
I was pointing out that yes:
"somebody else would risk losing that kind of money"

There are plenty of other countries looking to buy oil, ESP. when it means circumventing US, UK, norther European control of said resource.
You think Iran will have a problem selling their oil?

Other countries will not avoid buying oil just because US oil companies got the shaft. In fact it might even entice them further. They think, "Nice job Hugo, way to stick it to those capitalist bastards."
Sorry, oil exports will ALWAYS find a buyer. Go ahead and hate him, but Hugo holds the cards here.

 

<div class='quotetop'>QUOTE(wiiprii @ Jun 25 2007, 06:11 PM) [snapback]467835[/snapback]</div>

You are now the record holder. Less than 50 posts and you spew hate! The prior liberal record was in the 90's. Congrats.

And if you dont like fighting wars for oil perhaps you will wise up and let us drill off our coasts and in anwr

Maybe we can build a few new refineries :lol:

Even better - a few new nuclear power plants :lol:


I would feel out of place down there - Mr Chavez and his anarchists/socialists are much more your kinda folk. i hope he has a nice time down there eating all the oil he can, and then he can try to tame his inflation, and then try to feed his people - but hey we wont know about it because he canned the free press down there another liberal hero - i wonder if jimmy carter has a summer house there? isnt danny glover filming a movie there - or is it michael moooore?? heck - they must have some kinda healthcare system there tooooo - seriously - if you get sick you must try it out and let me know how it goes.

<div class='quotetop'>QUOTE(Darwood @ Jun 26 2007, 04:16 PM) [snapback]468482[/snapback]</div>

Iran has a problem refining their oil for crying out loud - aint that funny!

Any country that wants to invest with Mr. Chavez - they should feel free to - it would be better if they dont have shareholders though :lol: hence the chinese oil companies, and why not, they have something in common - no free press

you are right hugo holds the cards here - it could be differenct if we were allowed to drill off our coasts and in anwr and build more refineries - there are americans here that like putting us into these situations - u know - where we have to fight wars for oil

 

Man that a lot of smileys for talking about war

You will see no large increases in refinery capacity. Why would the oil companies spend billions on a new refinery when as we speak world oil production is peaking? They aren't stupid. Just Sunday I saw a BP commercial that said something to the effect that within the next 20 to 30 years we will have used 50% of the world's oil, and some sources say we already have. Why would an oil company spend money getting out the message that oil in finite? The oil companies know better than anyone that jig is about up.

ANWR, I love it when people dangle this one. By the BEST possible scenario it has enough oil of 18 months of the U.S.A.'s current oil use and it couldn't be online for at least 10 years. The only reason ANWR keeps coming up is because the other fields are about tapped out and production has gotten so low that is questionable if it will continue to be profitable to continue to operate the Trans-Alaskan Pipeline. Alaska is just as bad as the Saudi's afraid it is about to be cut off from it's oil revenue habit. Why destroy a pristine habitat that millions of animals depend on in order to get a couple more months of oil. FACE IT, the party is over, time for a new plan. Instead of spending millions on old technology we need to spend money developing the future.

You are absolutely right that the Chinese will be right there waiting for a chance to get Venezuela's oil. Considering that Venezuela sends the majority of it's oil to the U.S. (#1 consumer of Oil) China would love to take some of that capacity. (China is the #2 consumer of Oil and the fastest growing) You can see by their rapid expansion into Africa that they are not to choosy as to who they deal with. But then again, we deal with the Saudi's so I guess neither are we. :angry:


<div class='quotetop'>QUOTE(Spoid @ Jun 26 2007, 02:36 PM) [snapback]468458[/snapback]</div>

Yes I do. Oil companies are that desperate to add reserves to their portfolio. When the world is operating with a 1% to 2% difference between world production and world demand, any capacity will be snapped up. As someone else said, Chavez holds the cards here, just as Iran and any other oil producing country.

 

<div class='quotetop'>QUOTE(jhinton @ Jun 26 2007, 10:58 PM) [snapback]468632[/snapback]</div>

Why would oil companies build refineries when by limiting production they can keep the price of gas high? They aren't stupid.

 

<div class='quotetop'>QUOTE(Darwood @ Jun 26 2007, 01:16 PM) [snapback]468482[/snapback]</div>

We are talking two different things. To sell oil, first you must extract it, then you must find a buyer.

There a number of oil companies that have invested great sums of money to extract the oil in Venezuela. These firms are going to lose most of their investment because of the nationalizing process. I don't think think many firms will be willing to invest in Venezuela, even outside of the oil industry, for many years to come.

I don't think Venezuela will have any problems selling the oil, their big problem will be extracting it efficiently.


<div class='quotetop'>QUOTE(Godiva @ Jun 26 2007, 09:43 PM) [snapback]468649[/snapback]</div>

That's the neat thing about capitalism. Somebody will have the motive to build a new refinery to make more money. The problem is getting the permits for the refinery.