04-22-2018, 06:09 PM
As Peter Zeihan (zeihan.com) has explained in his YouTube videos, and written about, there is a problem with Venezuelan crude. This "sludge" is so thick-the consistency of toothpaste-and "sour" that only a handful of refineries can handle it.
Almost all of the suitable refineries are on the U.S. Gulf Coast. And they are, or have been, converted to process shale crude. One other possibility is Trinidad and Tobago.
To summarize, the Venezuelan oil industry is in danger of having no customers.
Almost all of the suitable refineries are on the U.S. Gulf Coast. And they are, or have been, converted to process shale crude. One other possibility is Trinidad and Tobago.
To summarize, the Venezuelan oil industry is in danger of having no customers.
