Word: orinoco
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Venezuela may be sitting atop one of the world's largest oil deposits--Chávez claims there are more than 200 billion bbl. in the Orinoco Belt, which, if true, is nearly 10 times as many proven reserves as the U.S. has. But most of the stuff is extra-heavy crude. Tapping and processing that tarlike oil require billions in investment. Analysts say PDVSA has been slow to start those projects, including joint stakes with China's CNPC, Brazil's Petrobras and Iran's Petropars in southeastern Venezuela...
...countries can export, and hence the price we pay for it. The lack of new investment in Mexico's oil fields, for example, has led to some of that nation's steepest production drops ever. The drilling ventures Chavez expropriated today involve tar-like heavy crude in Venezuela's Orinoco belt - perhaps enough to add some 300 billion barrels to the country's reserves, which would move it ahead of Saudi Arabia. But to make that heavy oil refinable requires billions of dollars, capital that Chavez's critics fear he may now have alienated - especially if, as the multinationals fret...
...responsible for the company's sustainable development efforts. They include ensuring Total is working with local communities around the world and developing new sources of energy, including wind. Gires is especially proud of a recent $4 billion project in Venezuela that produces and refines extra-heavy crude from the Orinoco basin that a decade ago would have been left in the ground. As part of its efforts to support people living in the area, Total not only built schools, medical facilities and roads but also employed experts to study public health issues there. After discovering that many local diseases were...
...quiz. Name and locate the following: Hekla, Monrovia, Manitoba and Orinoco. Now for a math problem: If a load of wheat weighs 3,942 lbs., what is the worth at 50[cents] a bushel, deducting 1,050 lbs. for tare? (Hint: a bushel of wheat weighs 60 lbs. You're on your own for tare...
...quiz. Name and locate the following: Hecla, Monrovia, Manitoba and Orinoco. Now for a math problem: If a load of wheat weighs 3,942 lbs., what is the worth at 50? a bushel, deducting 1,050 lbs. for tare? (Hint: a bushel of wheat is 60 lbs. You're on your own for tare...