Seems that Hugo Chavez is banking on Venezuela becoming more important as a nation on the world stage in the near future; it appears he may not be wrong: Oil reserves in the Orinoco area are estimated at 235 billion barrels which, added to the more than 70 billion barrels of light oil, would make Venezuela the country with the greatest oil natural reserve in the world.
Venezuela expects to confirm that it has reserves of 235 billion new barrels of crude, which would boost its reserves to 316 billion barrels - the world's largest oil reserves, ahead of even Saudi Arabia. (Let's wait and see if it's confirmed; if it is then this could cause a major change in the balance of OPEC and other oil-producing countries.
"The Orinoco river oil strip will become the world's greatest reservoir of petroleum for the next years". This may explain why Chavez seemed so cocky and triumphant as he strutted his stuff on his world tour in the last few weeks. In my opinion it only makes him more of a danger.
S.O.
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