U.S. Oil Supply: Drilling Down to the Facts [View article]
"Venezuela would collapse without its top customer to the north - responsible for 60% of all petrodollar revenue that has been showered upon the Venezuelan people in the form of grandiose social programs.The United States is the only existing industrialized nation equipped with the refining technology capable of processing this lower quality, heavy Orinoco Basin crude oil."
Actually, this isn't entirely correct. China has the refining technology capable of refining Venezuelan crude. In fact, Venezuela has recently been shipping crude tankers to China. China is also due to finish completing a new much larger refining plant which will enable them to receive much more Venezuelan crude. The problem is cost to ship is much more than the U.S., and with prices so low now, it may be a loser for Venezuela currently. Additionally, you mentioned Venezuela as the lone country expressing anti-American rhetoric from your list but, Ecuador is following in Chavez footsteps with the rhetoric. Nevertheless, they're just a pipsqueak anyway.
U.S. Oil Supply: Drilling Down to the Facts [View article]
Actually, this isn't entirely correct. China has the refining technology capable of refining Venezuelan crude. In fact, Venezuela has recently been shipping crude tankers to China. China is also due to finish completing a new much larger refining plant which will enable them to receive much more Venezuelan crude. The problem is cost to ship is much more than the U.S., and with prices so low now, it may be a loser for Venezuela currently.
Additionally, you mentioned Venezuela as the lone country expressing anti-American rhetoric from your list but, Ecuador is following in Chavez footsteps with the rhetoric. Nevertheless, they're just a pipsqueak anyway.