'Junk' Venezuelan oil could become a problem for the US.
US President Donald Trump's desire to control Venezuelan oil could lead to significant problems for the States. The Chinese publication Sohu warned of potential difficulties.
It is claimed that Venezuela has the largest proven oil reserves in the world; however, most of it is extra-heavy and 'junk' oil. This type of oil is characterized by its viscosity and high sulfur and metal content, making its extraction complicated.
The article emphasizes that Venezuela's oil infrastructure is also in a dire state due to years of sanctions and lack of investment. The US will have to spend at least $100 billion to develop the fields, which raises questions about the profitability of Trump's venture, the publication writes.
Earlier, Trump revealed the US plans regarding Venezuela's resources. "We are lowering oil prices and in return we are going to give Venezuela the money it desperately needs," the head of state explained.
Leave a comment