In Response To: IF PEAK OIL WAS A REAL ISSUE.. (threecats)
The DoE report shows that at today’s prices Venezuela’s oil reserves are bigger than those of the entire Middle East – including Saudi Arabia, the Gulf states, Iran and Iraq.
In the future Venezuela won’t have any more oil – but that’s in the 22nd Century
The US agency also identifies Canada as another future oil superpower.
Venezuela’s deposits alone could extend the oil age for another 100 years.
The DoE estimates that the Venezuelan government controls 1.3 trillion barrels of oil – more than the entire declared oil reserves of the rest of the planet.
Mr Chavez told Newsnight that “Venezuela has the largest oil reserves in the world. In the future Venezuela won’t have any more oil – but that’s in the 22nd Century.”