Comments on: Venezuelan oil exports to the USA: You say you want a revolution…

By: Jason

Jason — Sat, 02 Jan 2010 22:34:46 +0000

I don’t think Chavez really has anything against America as such – consider he gives subsidised oil to several states. It’s the foreign policies of the US Federal Govt he has a problem with. They don’t like him either though, but are too economically addicted to the oil to say no (America itself would survive cutting off the oil, but powerful figures would be toppled, to be replaced by some new status quo).

The increase is more to do with the increased gas-guzzling tendencies of the US, it’s better to sell as much oil close-by than to send it further afield.

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By: Martin

Martin — Thu, 24 Sep 2009 14:57:33 +0000

Just shows the window of opportunity existing right now for the US to put the squeeze on Chavez by exploiting this situation, with oil at $69 a barrel, while doing minimal damage to their own interests. Start pressuring Citgo, restricting imports, diversifying elsewhere (Brazil?). Fat chance Obama will do anything, of course.

By: kocavio

kocavio — Wed, 23 Sep 2009 22:10:05 +0000

Balvant,
According to Espinasa, the drop in exports to the United States has been slower than the drop in total exports. Therefore, Venezuela’s exports have tended to be concentrated in exports to the United States. This is for strictly economic reasons, first the exports from the Strategic Associations by design go to refineries in the Unite States and these are an increasing fraction of total exports, and second, the economies that the CITGO system provides for PDVSA, which is designed to value the Venezuelan crudes, which would be sold at lower prices in other destinations.

By: jen

jen — Wed, 23 Sep 2009 21:59:28 +0000

Would you believe that Venezuela sent oil to Newfoundland (Canada) to be refined in the 80′s…long way to send oil huh?

By: Gringo

Gringo — Wed, 23 Sep 2009 21:16:21 +0000

Here is data for US imports of oil from the 1980s on. Tends to support the graph, as it shows US imports from Venezuela going from 544 BOPD in 1984 to 1020 bOPD by 1990. Have to track down Venezuelan oil exports.

http://www.eia.doe.gov/emeu/aer/txt/ptb0507.html

By: torres

torres — Wed, 23 Sep 2009 19:58:46 +0000

Is this the percentage of USD that oil represents of total VE export value?

By: Kepler

Kepler — Wed, 23 Sep 2009 16:51:00 +0000

It still does not compute. I don’t think Venezuela was sending most of its oil ever to Europe and Asia was not present in Venezuela’s radars in the eighties, as far as I know.

By: moctavio

moctavio — Wed, 23 Sep 2009 13:11:57 +0000

It’s partly that, recall that production went up in the 80′s and 90′s and is down this decade.