In one of Venezuela President Hugo Chavez’ most defiant moves against the United States, and the US Dollar the South American populist leader has successfully engineered one of the most stunning economic achievements against Western influence among Latin American Nations by the establishment with Argentina, Bolivia, Brazil, Ecuador, Paraguay and Uruguay (combined GDP of over $3.5 Trillion US) of a South American Bank set to rival both American and European counterparts.

Adding to the financial might of these South American Nations in their direct confrontation against the Western Banking powers is the colossal amount of natural resources under their control, to include nearly 2 Trillion barrels of untapped oil reserves and over 200 Trillion cubic feet of natural gas. These numbers are only matched by the oil and natural gas reserves located in the war torn Middle East .

www.nworeport.com...

Originally posted by benign.psychosis
Seriously, I thought the motto of this site was "Deny Ignorance," but there is a mod here saying the information is bunk?

...

It looks like Mirthful me just saw the name "Sorcha Faal," made up his mind, and closed the window! This MUST have been the case, because were he to read a few paragraphs into the article, he would have seen the mentioning of the International Herald Tribune!

www.iht.com...

Deny Ignorance, Indeed!

ROFL! I guess they get all their information from David Booth...

Errr... I mean Sorcha Faal...

Hint: Even you if you get a story from a questionable source, it DOES NOT mean it has to end there.

Originally posted by Mirthful Me
Sure it does... The original Sorcha Faal article that you copy and pasted... Errr... Quoted, made no reference to the IHT or any other source. It does however make some rather outrageous claims regarding Venezuela's oil reserves. Two trillion barrels of untapped oil reserves? I think not... There's only about 1.3 Trillion barrels of proven worldwide reserves in the world. Deny ignorance indeed. If the source (the true source, not some derivative work) is that far off on an easily researched statistic, then what else is amiss? This is par for the course for David... Errr... Sorcha Faal.

Questionable sources are precisely that... Questionable.

Heavy oils, which can be pumped and refined just like conventional petroleum except that they are thicker and have more sulfur and heavy metal contamination, necessitating more extensive refining. Venezuela's Orinoco heavy oil belt is the best known example of this kind of unconventional reserve. Estimated reserves: 1.2 trillion barrels.

The DoE estimates that the Venezuelan government controls 1.3 trillion barrels of oil - more than the entire declared oil reserves of the rest of the planet.

90% of estimated reserves are in the Orinoco "heavy oil belt" of Venezuela, which has an estimated 1.2 trillion barrels.