The reason that Venezuela isn’t reaching their potential in drilling is because they kicked the US out and lost that access to tech improvement as well as brain power. Now imagine if Venezuela resumed that prior relationship with US oil companies. Sure, their shitty oil would have to be refined to a greater extent than other companies oil, but it could be done
If ever Venezuela builds the infrastructure and refineries to process that pain in the ass oil, much of the world will probably be on fusion and using much less oil than today. Is it possible Venezuela gets to that bitumen? Yes. Is it probable? No.
The reason that Venezuela isn’t reaching their potential in drilling is because they kicked the US out and lost that access to tech improvement as well as brain power. Now imagine if Venezuela resumed that prior relationship with US oil companies. Sure, their shitty oil would have to be refined to a greater extent than other companies oil, but it could be done
If ever Venezuela builds the infrastructure and refineries to process that pain in the ass oil, much of the world will probably be on fusion and using much less oil than today. Is it possible Venezuela gets to that bitumen? Yes. Is it probable? No.