Guidance counselor.... Is such an odd job... What do you do? I tell young people what they could do.... ? Ok... That is it? What if you tell them to do a shit job?... It is just a suggestion....
@@MrThogin In my entire life i've never met a "Guidance Counselor" or "Career Advisor" who knew the first thing about any job besides their own or working at a fast food joint. They can't "advise" someones way out of a paper bag!
Yeah too many people who re-post don't do that. Or if an interview is a few weeks in the past. I agree its incredibly important we know when people produce a video.
@@tonywilson4713 your poor, tender subjective ❄️🍼🚼 feelings Zero facts, actually offended by them Just Tony Wilson and his victim mentality ( constantly offended, cradle to grave victimhood) TOP LEFT ITS IN THE TOP LEFT SIMPLETON THE LEFT…ON THE TOP
You’re forgetting Guyana. Their crude oil production is exploding in volume. As its separated by a jungle from Venezuela and a member of the British Commonwealth the British could provide money, protection and expertise to enable Guyana to replace Venezuela as a stable oil exporter to Europe without involving the Americans.
According to the US Energy Dept, over 600,000 barrels per day, as of the end of 2023. A projection of near 1 million per day, by the end of 2025, from those Guyanese fields. A mix of nasty sludgy crude to light, still comes out of existing California fields. Varies per region. With peak production of over a million barrels a day, in the 1980s. Still a little over 250 thousand barrels a day, today, but well past its peak. Local government status ... well ...
@@MrHealthWellness That is actually the ideal model of a country for US to extend security relation. I am willing to bet that if Guyana was invaded, US will forcefully intervene militarily.
You haven't been watching. YES the Brits can provide protection cos they still have a Navy and an Army, *but they sure can't provide money.* Brexit has all but slammed their economy into deep deep hole from which they haven't a clue on how to get themselves out of. Rachel Reeves, their latest Chancellor of the Exchequer which is the equivalent to the Head of the Fed (Jerome Powell) is a complete Thatcherite nutter who's going to dig that hole deeper and deeper. Back in the 70s & 80s the Brits bought in so hard to the whole Thatcherism (what Americans call Reaganomics) so hard that it became utterly ingrained to both sides of politics. This is sort of what's happened everywhere and is why it feels like nothing changes no matter who wins an election. I'm Australian and its happened here.
Its not just the oil supply. The problem with invading and taking over a 'basket case' of a country like Venezuela is that you have to manage it, or in this case set up a whole new management structure (government) to prevent it from turning into a lawless patch of land (like Libya and Somalia).
The opposition won the elections on 7/28/24 but the dictators didn’t accept it and called themself the winners. There is an elected government ready to take power and make the country great, they just need help taking out the people that want to stay as dictators
Venezuelan here, from Maracaibo. The take here is quite precise. Venezuela is in ruins. The only upside would be that a lot of the skilled workers would return from exile and a few countries have that expertise from 100 years of oil production.
It'll only help if your government invests the money back into the country, diversifies your economy, and doesn't just pocket it. The oil will run out, demand will fall as renewables grow, you've got a short window of a couple of decades to get as much money as possible.
@@echoshatteryes, we need to get rid of the thugs in power. We have protested, many have been killed or imprisoned. We believe we can turn it around. Any help will be appreciated to increase awareness to this.
@ Even here in Finland where we have conscription for all males and there has to be an armory within X amount of kilometers from the people no matter where the people live so we can arm ourselves instantly in the event of (let's be 100% real, Russian, it's all we train for) invasion, we don't have that kind of firearm density.
Guyanese offshore oil (huge Exxon investments currently) and Brazilian pre-salt offshore fields (Texaco is involved with Petrobras among others). Western Hemisphere has a lot of oil.
The american oil companies are kinda irrelevant here. Most os the job is made by Petrobras(mostly), some european companys like total, shell and equinor and a couple of chinese ones.
@@filipebacelar766 com certeza só que as companhias estrangeiras trazem conhecimento tecnológico para o descobrimento e a extração. A Petrobrás ganha conhecimento técnico fazendo negócios com as companhias estrangeiras, incluindo as companhias chinesas.
Peter always offers a very, very succinct and informational analysis of current situations. He may not be right all the time, but the analysis is invaluable for further consideration!!
He is correct about the processors. The largest US refinery for that crude is on St. Croix in the USVI. Which has been shut down for over a decade. So you would need to reopen that refinery to really make it worth it which would cost a few billion and a year or more. So even if they wanted to it would take significant time.
Meh, in 2003 the white collar workers for PDVSA went on strike due Chavez mismanagement of it. That put 11 major refineries in TX and LA scrambling for a replacement. The entire reason that Venezuelan crude production and exports to the US increase in the 1980's was due Petroleum Coke market being developed. Remember that gasoline is not really that profitable as percent for refineries. Petcoke suddenly became way more profitable exponentially as a solid fuel to replace coal in some industries. This is the reason that Keystone pipeline was built to across the Mississippi from St. Louis, via Cushing OK, to Phillips refinery in Wood River, IL. Remember that ships from Venezuela take 4 days to get to Gulf Coast refineries, 10 days for the round trip including loading and discharge. Being dedicated to that crude and route, they don't have to clean cargo tanks as often. Steam injection is required to produce much of Venezuela's crude oil. Mobil built a large upgrader on the eastern side for the Orinoco belt. Venezuelan and Canadian crudes are very similar with similar API gravity and sulfur content. California crude is a tad lighter in API gravity. They are all high residual crude oils. Tight Shale crude is completely different and much of it is technically called condensate and not actually crude oil. It is paraffinic as well. It costs more money for the low value product slate from tight shale crude than from very heavy crude. The problem with Venezuela's fields is lack of maintenance to processing capability in the field and the upgraders. You might want to educate yourself about crude oil and refining before even mentioning the topic again.
I'm struggling to understand what anything you just typed had to do with what Zeihan just said. He was talking about the second oil crisis which ended in 1980. What you and Zeihan discuss are chronologically distinct. Perhaps you should study logic and argument a bit before mentioning this topic again.
@@squiresonZeihan is discussing sourcing oil from Venezuela and the comment explained why Venezuela's oil is a heavy, sulfur laden hot mess that should be avoided.
Just curious, aren’t the Chinese in play in Venezuela? Have experience with heavy, sour crudes, and have been involved supporting the kleptocracy and PDVSA for many years. That also supports seaports and naval bases in Venezuela as well as other regional bases. Madurno is certainly a willing partner.
4.3 MIllion barrels per day of Western Canadian select (WCS) crude ships to America daily from Alberta. It's a heavy crude similar to Venezuela crude. Alberta has lots of chemical engineers and engineering companies that would be happy to work in Venezuela or Guyana.
@jimbeam8686 Yes, the proven reserves are there but the Canada blocks Alberta pipelines east and west. The only option left is to build more pipelines south. If we can't even trade within our own country, then why not just join America? It makes a lot of sense.
There was excitement of finding large oil deposits off the coast of Guyana but I haven’t heard anything about that in a while. Is that moving along or kind of in limbo?
Under a Poilievre government, yes. Under a Singh government, never. Under a Carney/Freeland/jk jk they'll never win lol World price for crude has to be something like $90/barrel, which only sometimes happens, for Alberta stuff to be exportable. Otherwise, it would really help safeguard and grow the domestic economy if there was an increase domestic supply.
@ivancho5854 Maracaibo was a hard city to knock over, but the "fishing" was great off of it and Curacao was a friendly port nearby for sell off boott, get repairs and Dutch promotions.
Venezuela's oil has become virtually irrelevant. The US not pnly has figured itself its own oil and gas supply needs but as you have well said some years ago, became the world's swing producer . Guyana is taking away what Venezuela suppl8ed. The issue here is that Venezuela is a regional security problem that must be dealt with urgently given its negative effects in the region.
it seems that despite all the talk about ‘net zero’, geopolitics will be centered on the quest for oil reserves, decades into the future. This will be our children’s inheritance.
The cult of net zero has caused far more harm than good, wasted a good 20-30 years uselessly on ineffective feel good ideas. On the plus side, any grand kids will be born after the climate shift, so they won't have any reason or need to care since it will just be normal for them.
i used to think all these energy books were just hype, but then i heard about Magnetic Aura from friends who suddenly seemed calmer, more in control, like they weren’t letting stress or negativity mess with them anymore. it’s not magic or anything, but i can’t ignore the changes i’ve seen in them since they read it. it’s hard to track down tho, so if you’re curious, you’ll need to dig a little.
I am confused. The USA produces mostly sweet crude, but the refineries mostly want sour crude. So, if the USA is rapidly ramping up refined products, either they are ramping up imports of sour crude from somewhere, or they have finally decided to convert their refineries to handle sweet crude. Is that correct or ?
Dear Sir, will try to answer as a Major in Chemical Engineering. I graduated 20 years ago, so memory might not serve me well. Basically sweet crude is the very best, but usually it requires very specific conditions to be created, so it is relatively rare. On the other hand sour crude is more abundant! So what you want is to get rid of a lot of imputities in oil (sulfur, vanadium and a lot of metals that kill the catalyzers in the Fluid Catalytic Cracking process), crack the long chains into something more manageable for whatever process or purpose you want to use it, then mix it with other oils (like your sweet one) to get within the parameters of what you need for your application. Something akin to put more stock in a soup to make it yield for a bigger meal while tweaking it for the people in your household. That said, that varies from application to application. If possible, investigate upon it as what I am saying is from the top of my head and I haven't studied the topic in over 20 years!
Guyana, next door to Venezuela, is producing loads of oil. Also, Guyana’s oil is sweeter than Venezuela’s. FYI, with US permission Trinidad is bringing in Venezuelas oil, but it has loads of oil and gas itself.
Explain to me why would we spend such a large sum of money outside the US when we can just improve our oil fields and sell US oil on the world market???l
In a few years the U.S. and Finland and Canada will be exporters of technology for developing deep hot rock geothermal technology. This may begin to undermine demand for petroleum in a decade or two.
Seen from a European perspective, if we have to invest 10 biljon dollars into new refineries to import Venezuelan crude, that will be well worth the money if it rids of the dependence on Russian oil forever.
This is why I bet 1K on Brazil ETF. one of my smallest bets - They have aswell oil and could maybe be of value to the extraction in Venezuela.- Due to them being swell better priced labour and Portuguese being closer of language to Spanish. Currently that position was -12%percent though rebounded to -7 Percent. Will see how it goes. Brazil is aswell in its prime working years their average population age. -it was impossible to invest in Venezuela thus chose Brazil ETF. -
I was under the impression that refineries don’t retool for different oil fields. I know that regulations combined with grandfathered in processes make it so it’s more cost effective to maintain dirtier processes. I thought that’s why we export our light secure and import heavier crude that more closely matches what came out of the ground prior to the shale revolution. I’d love to know more.
No sane American would ever say anything about eastmed oil and gas… it’s a taboo… the conflict between turkey and Israel is making things worse… if Israel doesn’t take control of the area and make some solid alliances it will remain a distant dream..
@ no sane American or taboo? Where do you get your facts from? Exxon has begun the process of drilling in that area. Now it’s just a question of the partners Egypt, Israel, Cyprus and Greece to support this line. But the drilling is begining.
@@tsifty1 I’m in the industry… there is no drilling or decision for doing so… Egypt has problems and the US might try to help them by diverting gas to their terminal. Turkey doesn’t like this. Irrelevant of what people think about Israel and the US, Trump would always favour Turkey, and I hope I’m wrong about this.
@ but what does Turkey have to do in this? As for drilling process , reports state otherwise. Just of Cyprus coast, Exxon with Qatarenergy has begun drilling. It’s in the news that last one, look it up maybe you didn’t get the memo yet.
@ They are not drilling…they validate seismic studies…nobody ever tried to explain the difference to people… Turkey is pressuring the US not to allow any NG extraction… they even pushed the US during Nuland to terminate all prospects for any pipelines and just concentrate on the electric connection between Israel and EU… its not a simple game… turkey is playing the strategic patience card while Israel is playing the security card…. Also both governments in Greece and Cyprus are incompetent…the Mediterranean people should have an alliance like the Baltic, but they only care about making rich the people who fund them… they are both corrupt and trying to create oligarchies…. Israel is in serious debt… the French and the Italians can’t figure out what they want…so it’s a mess. And all this is happening while the trouble maker in the region is at its lowest economic growth…
Alberta wants to double it’s crude output, with the change in government that’s coming in Canada the US doesn’t need to deal with Venezuela for heavy crude.
Peter forgets the map or stats as long as it gives talking points to fit his narative. 1. Guyana already produces same amount as Venezuela. We still have to see when second big mustache man starts telling that Guyana is drilling his oil. 2. Venezuela's peak production was quarter of Saudi. They can't replace Middle East even on good day. 3. USA Gulf coast refineries are set to process heavy oil extracted in Canada and some South American country with name starting with V. Confederate states of America export light crude for sale and import heavy crude for processing.
Angola just left OPEC, Argentina is no longer socialist, Guyana coming online, and both Biden and Trudeau are gone. Plenty other places to invest in for now.
Considering how poor Venezuela is in general, and even though the country is littered with AK-47 weapons that could (theoretically) create a significant militia to thwart and invasion, does anyone have enough spare cash to buy the ammo for all those AK-47s?
US military needs freedom of movements in Panama Canal before we consider anything in Venezuela. If we were to learn from operation Gideon we have to have assets ready to move and intervene with the full might of US force at a moment notice. US have to take over Panama Canal before even considering anything in Venezuela
The 2019 edition of the BP Statistical Review of World Energy reports the total proved reserves of 303.3 billion barrels for Venezuela (slightly more than Saudi Arabia's 297.7 billion barrels) are recognized as the largest in the world. Crucial to Western Hemisphere autarchy in a China dominated world? Re Europe and Monroe Doctrine; Venezuela for Greenland?
With America being the largest produce, even with Russia under sanctions, oil should be less than 30 a bbl. But that price won't support the cost of making America the largest producer.
Peter, since Cuba is almost empty. THe US can make it the 51st state. Look at the Gulf of Mexico and you see thousands of oil wells.THere must be oil off the coast of Cuba !!! This is logical.
As much as I enjoy your content, in my wildest dreams I cannot see Europe doing anything military-like anywhere. We see what is happening now in the east. Politically Europe is way too divided to do anything so radical as you say.
If a magic wand was waved and everything could happen starting today, it would take 20 or more years to bring Venezuela where it was. And $50 billion? Maybe $200-300 billion. In the meantime if the refineries on the Gulf set up to run this switch over to the more plentiful light shale, then what? Venezuela would have to discount the stuff to get anyones interest.
How can you talk about Venezuela without talking about Guiana and the oil reserves there? You know the light sweet oil reserves there... My question is how quickly can they come online and how quickly can they produce capacity.
Crude oil from Venezuela continues to flow and Saudi Arabia produces 8-19 mbls per day. There is no shortage of Oil in the world. Canada ships plenty of oil to US. Shell Motiva in Texas is configured for Heavy Oil from Canada and Venezuela! I don't believed you know the true picture. I don't think
The Maturo Regime is isn’t socialist or communist, by klepto? Does that mean the USSR wasn’t communist because they stole all kinds of things from the Kulaks?
Between 2040 and 2050, the EU could lower their oil consumption by 40 to 50 percent. The WOULD turn an acute oil pinch with geopolitical ramifications into a bit more of a negligible juggle of imports.
Surely, it'd be cheaper and easier for Europeans to just consume less oil (which is already happening - oil demand from Europe peaked in the 2000s). EV adoption is already at 15% of new car sales, up from 1% a few years ago (and in Nordic countries its >33%).
so my friends read this book called Magnetic Aura and they all started acting way more confident-one got a job they didn’t even apply for, another’s meeting all these amazing people who actually lift them up. it’s like something shifted in their vibe, not in a flashy way, just subtle and real. it’s wild tho, this book keeps getting removed so fast cuz it’s apparently too powerful-good luck finding it if you’re curious.
The USA petroleum supply would be at international prices. Sadly Australia imports all its petroleum. Sadly Australia does not make Electric vehicles and has been slow to import EVs.
We do want Greenland, and we’d love to have a thumbs up to remove the Panama Canal from Panamanian possession and Chinese control , so using Venezuela as a bargaining chip to achieve those goals is perhaps not so far fetched 🧐
Who knew that a career in geopolitics would allow you to hike amazing places every day? My guidance counselor failed me😂
Guidance counselor.... Is such an odd job... What do you do? I tell young people what they could do.... ? Ok... That is it? What if you tell them to do a shit job?... It is just a suggestion....
Hiking hippy by day, geopolitical strategist by trade.
@@HikeandFishNewEngland guidance counselors psychologist s make good money.
@@MrThogin In my entire life i've never met a "Guidance Counselor" or "Career Advisor" who knew the first thing about any job besides their own or working at a fast food joint. They can't "advise" someones way out of a paper bag!
To be fair he lives in rural Colorado so he's mostly hiking around his backyard.
I’m glad I got to visit Venezuela in the 90’s before it completely went to crap. You forgot to mention the Guyanese oil coming online.
Are you suggesting the US should coup Guyana to become a ESSO vassal?
@@raymondnoel6053 What in world? Nothing in his comment even remotely hints at that. That's all you.
I appreciate the video release date stamp
Yeah too many people who re-post don't do that.
Or if an interview is a few weeks in the past.
I agree its incredibly important we know when people produce a video.
@@tonywilson4713 here in the cheap seats, last weeks news is all we can affrord.
OKAY YOU TWO.
TIME FOR THE EYE DR
the very beginning….top left
OR
Pay up for current videos
@@Paint-brigade1776 I got 2 words for you.
One word is *OFF* see if your lizard brain can guess the other!!!!
@@tonywilson4713 your poor, tender subjective ❄️🍼🚼 feelings
Zero facts, actually offended by them
Just Tony Wilson and his victim mentality ( constantly offended, cradle to grave victimhood)
TOP LEFT
ITS IN THE TOP LEFT SIMPLETON
THE LEFT…ON THE TOP
You’re forgetting Guyana. Their crude oil production is exploding in volume. As its separated by a jungle from Venezuela and a member of the British Commonwealth the British could provide money, protection and expertise to enable Guyana to replace Venezuela as a stable oil exporter to Europe without involving the Americans.
Guyana has a bright future. But I fear for the country because of its extremely small population and its proximity to a failing and hostile Venezuela.
According to the US Energy Dept, over 600,000 barrels per day, as of the end of 2023. A projection of near 1 million per day, by the end of 2025, from those Guyanese fields.
A mix of nasty sludgy crude to light, still comes out of existing California fields. Varies per region. With peak production of over a million barrels a day, in the 1980s. Still a little over 250 thousand barrels a day, today, but well past its peak. Local government status ... well ...
Exxon Mobil is the big player in Guyana now
@@MrHealthWellness That is actually the ideal model of a country for US to extend security relation. I am willing to bet that if Guyana was invaded, US will forcefully intervene militarily.
You haven't been watching.
YES the Brits can provide protection cos they still have a Navy and an Army, *but they sure can't provide money.*
Brexit has all but slammed their economy into deep deep hole from which they haven't a clue on how to get themselves out of. Rachel Reeves, their latest Chancellor of the Exchequer which is the equivalent to the Head of the Fed (Jerome Powell) is a complete Thatcherite nutter who's going to dig that hole deeper and deeper.
Back in the 70s & 80s the Brits bought in so hard to the whole Thatcherism (what Americans call Reaganomics) so hard that it became utterly ingrained to both sides of politics. This is sort of what's happened everywhere and is why it feels like nothing changes no matter who wins an election.
I'm Australian and its happened here.
Its not just the oil supply. The problem with invading and taking over a 'basket case' of a country like Venezuela is that you have to manage it, or in this case set up a whole new management structure (government) to prevent it from turning into a lawless patch of land (like Libya and Somalia).
GREEDLAND is the deal.
Don’t worry, the CIA has ample nation building experience in Iraq and Afghanistan.
The opposition won the elections on 7/28/24 but the dictators didn’t accept it and called themself the winners. There is an elected government ready to take power and make the country great, they just need help taking out the people that want to stay as dictators
@@alphafox400 Its different Venezuelans are western
Like Africa
Once the west leaves, it all comes apart
Venezuelan here, from Maracaibo. The take here is quite precise. Venezuela is in ruins. The only upside would be that a lot of the skilled workers would return from exile and a few countries have that expertise from 100 years of oil production.
Well good thing the American government supports free trade and free speech.
Provided you’re freely talking about selling you good through exon
It'll only help if your government invests the money back into the country, diversifies your economy, and doesn't just pocket it. The oil will run out, demand will fall as renewables grow, you've got a short window of a couple of decades to get as much money as possible.
@@echoshatteryes, we need to get rid of the thugs in power. We have protested, many have been killed or imprisoned. We believe we can turn it around. Any help will be appreciated to increase awareness to this.
I used to work refinery turnarounds, very few persons understand the bi annual changes for summer/winter fuel changes.
I’m fairly certain nobody does. We average Americans just know it as bi annual highway robbery.
@@revolutionaryhamburgerand the highest gas prices in the US are often still cheaper than Canada or a lot of Europe
... Mark ? ...
always love to see a zeihan vieo.
Peter: “Outside a war zone, the world’s largest concentration of assault rifles is in Venezuela.”
American gun owners: “Hold my beer.”
The US is not a war zone?
Military-grade full auto assault rifles? Nah, Venezuela has everyone beat on that one.
@@SeruraRenge11Repeal the NFA and that'll change in a year or so.
@ Even here in Finland where we have conscription for all males and there has to be an armory within X amount of kilometers from the people no matter where the people live so we can arm ourselves instantly in the event of (let's be 100% real, Russian, it's all we train for) invasion, we don't have that kind of firearm density.
@@BobDiot In that case thank goodness for the NFA!
My man. Glad you made it home safe from NZ (where I live). Thanks for coming and best wishes for your future endeavours.
Peter can't be home yet, global shipping has not collapsed, as the profit predicted, LOL.
Guyanese offshore oil (huge Exxon investments currently) and Brazilian pre-salt offshore fields (Texaco is involved with Petrobras among others). Western Hemisphere has a lot of oil.
The american oil companies are kinda irrelevant here. Most os the job is made by Petrobras(mostly), some european companys like total, shell and equinor and a couple of chinese ones.
And brazilian private companies are growing in the market as well
@@filipebacelar766 com certeza só que as companhias estrangeiras trazem conhecimento tecnológico para o descobrimento e a extração. A Petrobrás ganha conhecimento técnico fazendo negócios com as companhias estrangeiras, incluindo as companhias chinesas.
Peter always offers a very, very succinct and informational analysis of current situations. He may not be right all the time, but the analysis is invaluable for further consideration!!
Yeah this time he sounds just preposterous or absurd.
Good enumeration of the issues involved with Venezuelan oil.
He is correct about the processors. The largest US refinery for that crude is on St. Croix in the USVI. Which has been shut down for over a decade. So you would need to reopen that refinery to really make it worth it which would cost a few billion and a year or more. So even if they wanted to it would take significant time.
🎉 Never thought I'd see this video title 😅
It's the wackiest ever. Like Greenland running out of ice.
Meh, in 2003 the white collar workers for PDVSA went on strike due Chavez mismanagement of it. That put 11 major refineries in TX and LA scrambling for a replacement. The entire reason that Venezuelan crude production and exports to the US increase in the 1980's was due Petroleum Coke market being developed. Remember that gasoline is not really that profitable as percent for refineries. Petcoke suddenly became way more profitable exponentially as a solid fuel to replace coal in some industries. This is the reason that Keystone pipeline was built to across the Mississippi from St. Louis, via Cushing OK, to Phillips refinery in Wood River, IL. Remember that ships from Venezuela take 4 days to get to Gulf Coast refineries, 10 days for the round trip including loading and discharge. Being dedicated to that crude and route, they don't have to clean cargo tanks as often.
Steam injection is required to produce much of Venezuela's crude oil. Mobil built a large upgrader on the eastern side for the Orinoco belt. Venezuelan and Canadian crudes are very similar with similar API gravity and sulfur content. California crude is a tad lighter in API gravity. They are all high residual crude oils. Tight Shale crude is completely different and much of it is technically called condensate and not actually crude oil. It is paraffinic as well. It costs more money for the low value product slate from tight shale crude than from very heavy crude.
The problem with Venezuela's fields is lack of maintenance to processing capability in the field and the upgraders.
You might want to educate yourself about crude oil and refining before even mentioning the topic again.
I'm struggling to understand what anything you just typed had to do with what Zeihan just said. He was talking about the second oil crisis which ended in 1980. What you and Zeihan discuss are chronologically distinct.
Perhaps you should study logic and argument a bit before mentioning this topic again.
So in conclusion you are saying that since Texas and Los Angeles refineries scrambled for replacement crude in 2003, it is the case still in 2025?
LA mentioned here refers to Louisiana refineries.
@@squiresonZeihan is discussing sourcing oil from Venezuela and the comment explained why Venezuela's oil is a heavy, sulfur laden hot mess that should be avoided.
@@attilaann9421 aha thanks. That is the curse for using acronyms and shorts.
Just curious, aren’t the Chinese in play in Venezuela? Have experience with heavy, sour crudes, and have been involved supporting the kleptocracy and PDVSA for many years. That also supports seaports and naval bases in Venezuela as well as other regional bases. Madurno is certainly a willing partner.
4.3 MIllion barrels per day of Western Canadian select (WCS) crude ships to America daily from Alberta. It's a heavy crude similar to Venezuela crude. Alberta has lots of chemical engineers and engineering companies that would be happy to work in Venezuela or Guyana.
Could Alberta double it's production?
@jimbeam8686 Yes, the proven reserves are there but the Canada blocks Alberta pipelines east and west. The only option left is to build more pipelines south. If we can't even trade within our own country, then why not just join America? It makes a lot of sense.
@@murray7851 But that's not a team Canada approach!
Golden Horn above Denver? I live in Denver.....Golden Horn is almost 7 hours away....
There was excitement of finding large oil deposits off the coast of Guyana but I haven’t heard anything about that in a while. Is that moving along or kind of in limbo?
That would be crazy if Canada could get Oil delivered to Canadian ports east or west coast. We have oil to sell.
Canada has stupid, ignorant people standing in the way of that.
There is no business case bro
Stop voting liberal then.
Under a Poilievre government, yes. Under a Singh government, never. Under a Carney/Freeland/jk jk they'll never win lol
World price for crude has to be something like $90/barrel, which only sometimes happens, for Alberta stuff to be exportable. Otherwise, it would really help safeguard and grow the domestic economy if there was an increase domestic supply.
Keep in mind, it's not always $90/barrel, it's always changing.
Thanks Peter
5:30 Maracaibo - Any Sid Meier's Pirates fans out there? It was my favorite game.
My ex gf is from Maracaibo. I miss her 😢
Yes! I emulated the PSP version on an android tablet recently too and it worked perfectly. 😁👍
@ivancho5854 Maracaibo was a hard city to knock over, but the "fishing" was great off of it and Curacao was a friendly port nearby for sell off boott, get repairs and Dutch promotions.
@@Rob_F8F 😁 🎮
Yes, I was playing that at Christmas 🎄 😂it's still a really good game 🎮
Venezuela's oil has become virtually irrelevant. The US not pnly has figured itself its own oil and gas supply needs but as you have well said some years ago, became the world's swing producer . Guyana is taking away what Venezuela suppl8ed. The issue here is that Venezuela is a regional security problem that must be dealt with urgently given its negative effects in the region.
Perhaps Guyana could do some lateral drilling to the west! 😁👍
it seems that despite all the talk about ‘net zero’, geopolitics will be centered on the quest for oil reserves, decades into the future. This will be our children’s inheritance.
More droughts, floods, hurricanes, etc. anyone?
The cult of net zero has caused far more harm than good, wasted a good 20-30 years uselessly on ineffective feel good ideas. On the plus side, any grand kids will be born after the climate shift, so they won't have any reason or need to care since it will just be normal for them.
Oil isn't just a fuel for automotive vehicles, it's used to manufacture all sorts of products we're addicted to.
i used to think all these energy books were just hype, but then i heard about Magnetic Aura from friends who suddenly seemed calmer, more in control, like they weren’t letting stress or negativity mess with them anymore. it’s not magic or anything, but i can’t ignore the changes i’ve seen in them since they read it. it’s hard to track down tho, so if you’re curious, you’ll need to dig a little.
Bot
Argentina ? Great energy outlook
I am confused. The USA produces mostly sweet crude, but the refineries mostly want sour crude. So, if the USA is rapidly ramping up refined products, either they are ramping up imports of sour crude from somewhere, or they have finally decided to convert their refineries to handle sweet crude. Is that correct or ?
Dear Sir, will try to answer as a Major in Chemical Engineering. I graduated 20 years ago, so memory might not serve me well.
Basically sweet crude is the very best, but usually it requires very specific conditions to be created, so it is relatively rare. On the other hand sour crude is more abundant! So what you want is to get rid of a lot of imputities in oil (sulfur, vanadium and a lot of metals that kill the catalyzers in the Fluid Catalytic Cracking process), crack the long chains into something more manageable for whatever process or purpose you want to use it, then mix it with other oils (like your sweet one) to get within the parameters of what you need for your application. Something akin to put more stock in a soup to make it yield for a bigger meal while tweaking it for the people in your household.
That said, that varies from application to application. If possible, investigate upon it as what I am saying is from the top of my head and I haven't studied the topic in over 20 years!
Plus you have to blend Venezuela's crude with light crude so it can be processed in American refineries
"I'm not sure there's anything in Europe we want that badly."
Greenland?
Guyana, next door to Venezuela, is producing loads of oil. Also, Guyana’s oil is sweeter than Venezuela’s. FYI, with US permission Trinidad is bringing in Venezuelas oil, but it has loads of oil and gas itself.
I’m wondering about the Southern Pacific region royal Dutch Shell oilfield are?
What do you think about Modero talking about taking Puerto Rico?
The state of world since 2015, summed up perfectly in two words: 0:12
Wonder how Marco Rubio would interfere with Venezuela
😂😂😂
I lived in Denver Colorado for over 20 years, um, it can snow any month there Peter.
Explain to me why would we spend such a large sum of money outside the US when we can just improve our oil fields and sell US oil on the world market???l
Happy b-day G
Goodr glasses. Nice !!!
Thx
Peter, how about the drones in N.J…….is it a 3rd rail for you?
In a few years the U.S. and Finland and Canada will be exporters of technology for developing deep hot rock geothermal technology. This may begin to undermine demand for petroleum in a decade or two.
Is Tachira the state, there is a lake.
Brazil has untapped offshore oil in the north, maybe they are easier to deal with, but is a kleptocracy not as bad as Venezuela.
What about Guyana?
in exchange for Greenland?
PRC is involved.
Seen from a European perspective, if we have to invest 10 biljon dollars into new refineries to import Venezuelan crude, that will be well worth the money if it rids of the dependence on Russian oil forever.
Strange as it seems. USA is set up to refine Venezuela oil and export cracked oil to refinery in Europe.
This is why I bet 1K on Brazil ETF. one of my smallest bets - They have aswell oil and could maybe be of value to the extraction in Venezuela.- Due to them being swell better priced labour and Portuguese being closer of language to Spanish. Currently that position was -12%percent though rebounded to -7 Percent. Will see how it goes. Brazil is aswell in its prime working years their average population age. -it was impossible to invest in Venezuela thus chose Brazil ETF. -
Peter! Russia is the one that depends on Europe as the major buyer + EU has diversified suppliers to reduce reliance…
Scandinavian oil?
Wrong question... wrong answer.
North Africa, Sahara Desert for PV solar electricity would be a desert of Broken glass. 😮
Or a base for foreign army to protect the solar farms. 😮
I was under the impression that refineries don’t retool for different oil fields. I know that regulations combined with grandfathered in processes make it so it’s more cost effective to maintain dirtier processes. I thought that’s why we export our light secure and import heavier crude that more closely matches what came out of the ground prior to the shale revolution. I’d love to know more.
Could a combined Llanos region be a manufacturing powerhouse?
Venezuela lost the ability to produce any oil in reasonable quantities.
What about EastMed? Can it help Europe needs?
No sane American would ever say anything about eastmed oil and gas… it’s a taboo… the conflict between turkey and Israel is making things worse… if Israel doesn’t take control of the area and make some solid alliances it will remain a distant dream..
@ no sane American or taboo? Where do you get your facts from? Exxon has begun the process of drilling in that area. Now it’s just a question of the partners Egypt, Israel, Cyprus and Greece to support this line. But the drilling is begining.
@@tsifty1 I’m in the industry… there is no drilling or decision for doing so… Egypt has problems and the US might try to help them by diverting gas to their terminal. Turkey doesn’t like this. Irrelevant of what people think about Israel and the US, Trump would always favour Turkey, and I hope I’m wrong about this.
@ but what does Turkey have to do in this? As for drilling process , reports state otherwise. Just of Cyprus coast, Exxon with Qatarenergy has begun drilling. It’s in the news that last one, look it up maybe you didn’t get the memo yet.
@ They are not drilling…they validate seismic studies…nobody ever tried to explain the difference to people… Turkey is pressuring the US not to allow any NG extraction… they even pushed the US during Nuland to terminate all prospects for any pipelines and just concentrate on the electric connection between Israel and EU… its not a simple game… turkey is playing the strategic patience card while Israel is playing the security card…. Also both governments in Greece and Cyprus are incompetent…the Mediterranean people should have an alliance like the Baltic, but they only care about making rich the people who fund them… they are both corrupt and trying to create oligarchies…. Israel is in serious debt… the French and the Italians can’t figure out what they want…so it’s a mess. And all this is happening while the trouble maker in the region is at its lowest economic growth…
What about Argentine shale?
Hum 🤔 no word about Guyana ?
Alberta wants to double it’s crude output, with the change in government that’s coming in Canada the US doesn’t need to deal with Venezuela for heavy crude.
Peter forgets the map or stats as long as it gives talking points to fit his narative.
1. Guyana already produces same amount as Venezuela. We still have to see when second big mustache man starts telling that Guyana is drilling his oil.
2. Venezuela's peak production was quarter of Saudi. They can't replace Middle East even on good day.
3. USA Gulf coast refineries are set to process heavy oil extracted in Canada and some South American country with name starting with V. Confederate states of America export light crude for sale and import heavy crude for processing.
Angola just left OPEC, Argentina is no longer socialist, Guyana coming online, and both Biden and Trudeau are gone. Plenty other places to invest in for now.
Considering how poor Venezuela is in general, and even though the country is littered with AK-47 weapons that could (theoretically) create a significant militia to thwart and invasion, does anyone have enough spare cash to buy the ammo for all those AK-47s?
US military needs freedom of movements in Panama Canal before we consider anything in Venezuela. If we were to learn from operation Gideon we have to have assets ready to move and intervene with the full might of US force at a moment notice. US have to take over Panama Canal before even considering anything in Venezuela
Greenland mite be a good trade to get access to Venezuela
As I said, is a basket case, also there is a problem with drug tracking you have to deal with if you do a war with Venezuela.
So your saying Venezuela crude is unpredictable for the US to depend on, how smart is it to be starting a tariff war with Canada?
Do you see Argentina stepping in ?
The 2019 edition of the BP Statistical Review of World Energy reports the total proved reserves of 303.3 billion barrels for Venezuela (slightly more than Saudi Arabia's 297.7 billion barrels) are recognized as the largest in the world. Crucial to Western Hemisphere autarchy in a China dominated world? Re Europe and Monroe Doctrine; Venezuela for Greenland?
With America being the largest produce, even with Russia under sanctions, oil should be less than 30 a bbl. But that price won't support the cost of making America the largest producer.
Can Europe offer Greenland?
Peter, since Cuba is almost empty. THe US can make it the 51st state. Look at the Gulf of Mexico and you see thousands of oil wells.THere must be oil off the coast of Cuba !!! This is logical.
Maricaibo, Orinoco, Citgo....i hear Enya
As much as I enjoy your content, in my wildest dreams I cannot see Europe doing anything military-like anywhere. We see what is happening now in the east. Politically Europe is way too divided to do anything so radical as you say.
Alberta should be filling all of that.
“Oh dear”. LOL
Last decade of world economic history on a short walk at altitude. Amazing!
If a magic wand was waved and everything could happen starting today, it would take 20 or more years to bring Venezuela where it was. And $50 billion? Maybe $200-300 billion.
In the meantime if the refineries on the Gulf set up to run this switch over to the more plentiful light shale, then what?
Venezuela would have to discount the stuff to get anyones interest.
How can you talk about Venezuela without talking about Guiana and the oil reserves there? You know the light sweet oil reserves there... My question is how quickly can they come online and how quickly can they produce capacity.
I personally think that they will come online quick enough. The world economy is trending down and so will energy demand for a bit.
Crude oil from Venezuela continues to flow and Saudi Arabia produces 8-19 mbls per day.
There is no shortage of Oil in the world. Canada ships plenty of oil to US.
Shell Motiva in Texas is configured for Heavy Oil from Canada and Venezuela!
I don't believed you know the true picture.
I don't think
Don't the French Foreign Legion have a history of getting busy in that area of the world?
European armies invading Venezuela: “We’re back! did you miss us?”
The Maturo Regime is isn’t socialist or communist, by klepto? Does that mean the USSR wasn’t communist because they stole all kinds of things from the Kulaks?
Between 2040 and 2050, the EU could lower their oil consumption by 40 to 50 percent. The WOULD turn an acute oil pinch with geopolitical ramifications into a bit more of a negligible juggle of imports.
Venezuelan kleptocracy is not a regime, is a drug cartel. One action can solve 2 problems at the same time.
Don’t forget the MILLIONS of refugees that have gone to western countries from VZ recently
Doesn’t it make more business and political sense to deepen the energy relationship with Canada instead of Venezuela?
You mean for Europeans? Canada here lack oil export terminal to ship the oil to Europe
So, a whole month in New Zealand?? You're killing me...............
Why would Europe not just get the oil from Canada?
Surely, it'd be cheaper and easier for Europeans to just consume less oil (which is already happening - oil demand from Europe peaked in the 2000s). EV adoption is already at 15% of new car sales, up from 1% a few years ago (and in Nordic countries its >33%).
How are you making the electricity for all those EVs in cloudy Europe, when many countries are shutting down their nuclear plants?
You forgetting Canada
so my friends read this book called Magnetic Aura and they all started acting way more confident-one got a job they didn’t even apply for, another’s meeting all these amazing people who actually lift them up. it’s like something shifted in their vibe, not in a flashy way, just subtle and real. it’s wild tho, this book keeps getting removed so fast cuz it’s apparently too powerful-good luck finding it if you’re curious.
@@prince76963 do you know the author of Magnetic Aura?
Even better is Electro Magnetic Aura. It comes in waves.
The USA petroleum supply would be at international prices.
Sadly Australia imports all its petroleum.
Sadly Australia does not make Electric vehicles and has been slow to import EVs.
Greenland?
Peter first then Coffeezilla 😁
We do want Greenland, and we’d love to have a thumbs up to remove the Panama Canal from Panamanian possession and Chinese control , so using Venezuela as a bargaining chip to achieve those goals is perhaps not so far fetched 🧐
oh dear.
Or Europe can just, you know... buy oil from the US. We do export a crapton of the stuff, as has been noted.
But, but, we are suppose to drive electric in 5 years!🤔
Bloomberg predicts 27% of cars sold globally this year will be BEV or PHEV, up from 21% in 2024. So it’s happening… it will just take time.
I’m still waiting on my personal jet back pack I was promised in 6th grade.
@@Paint-brigade1776 Trump is going to sanction Nato
for trade, in europe there is something you want... its called Greenland
If you could modify a refinery to take either Canadian or Venezuelan oil then supply would be guaranteed.