Valuing Venezuela’s Orinoco Oil Belt | WHAT REALLY HAPPENED

Valuing Venezuela’s Orinoco Oil Belt

The Orinoco Belt: “oil-in-place” is estimated to be up to 1.4 trillion barrels, of which 70% might be extracted using the most advanced technologies.

“Let’s place 1 trillion barrels of oil in context.

Global oil consumption is currently 35 billion barrels a year. Thus, the Orinoco Belt alone could satisfy 100% of global demand for almost 30 years!

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