Chavez: Big oil firms to leave Venezuela

No, the new refineries are going to be built in the countries that actually have oil to refine. IE: Iran, Saudi Arabia, Venezuela. Even Iranian consumtion is rising, and they currently import gas back in, due to lack of refinery capacity. China will be more than happy to invest in refineries for these places we Americans don't get along with, as long as some of the products produced can be shipped to China, where they can continue surpassing the American economy, which would sputter without the very same resources we are talking about.

And the neat (not so neat, really) thing is they can make the investment with all the money we spend on cheap plastic crap we keep on buying here in America. And when we stop buying that crap, they'll call in the massive amount of money we owe them instead. (Money we borrowed to open up Iraqi oil for future production).