Gregory Brew
speaker
418 appearances
1 recordings
1 series
first heard Jan 2026
last heard 7 Jan
Gregory Brew’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jan 2026 with 1.
Appearances
What have you discovered through geological surveys, through drilling test wells, et cetera?
From that point of view, Venezuela could have as much as a trillion barrels of oil within its territory.
In the Maracaibo Basin to the West,
but also most significantly in the Orinoco basin in the east and southeast of the country, which is where this very heavy, extra heavy sour crude is located.
It's probably the largest continuous reserve of oil in the world.
Its rivals would be the tar sands of Alberta and the Guevara Field in eastern Saudi Arabia.
So technically, there is maybe a trillion barrels of oil there.
But when we get down to what is recoverable, you know, the US Geological Survey did a report on this in I think 2009, and the figure they landed on was between 400 and 500 billion barrels of what you could pull out of the ground, not counting on price, not counting on how much money you were willing to spend.
Then we get to proven reserves.
And proven reserves are a function.
Of price, profitability, available investment, security, you know, assessing risks, how much you need to pay if you're an international oil company, how much do you need to split with the national government, all of that.
And that's where we get a much more fuzzy figure.
You know, OPEC, they have figures on proven reserves.
The Energy Information Administration of the United States puts out proven reserve figures on various countries.
When it comes to Venezuela, there is that incident of the Hugo Chavez government radically upgrading the amount of oil that they said was recoverable in I think it was 2007.
The thing about that though is that at the time
Brent crude prices were upwards of $100 a barrel.
So the price of oil was very high.
Cut to today, where you know, adjusting for inflation, the price is very low.
It's $60 a barrel, but you know, compared to the price in 2007, it's even lower than that.
Showing 21–40 of 418 · page 2 of 21
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