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Venezuela Says Oil Reserves Surpass Saudi Arabia's
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Venezuela Says Oil Reserves Surpass Saudi Arabia's

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Venezuela Says Oil Reserves Surpass Saudi Arabia's

Venezuela has overtaken Saudi Arabia as the world leader in oil reserves, President Hugo Chavez's government said.

More on CNBC...

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  #2 (permalink)
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OPEC members are limited to sales based on % their reserves - therefore everyone has motivation to exaggerate . With that in mind, they are all ( OPEC countries) probably lying about how much oil they have.

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I watched a movie about Crude last year, sorry I can't remember the title but I think it had Crude in the title. Anyway, they mentioned how when OPEC revised how much oil can be sold based on % of reserves, that all major countries suddenly had drastically more reserves overnight.

Obviously, it's all a sham. And obviously, everyone is paid off and doesn't care.

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drago1 View Post
OPEC members are limited to sales based on % their reserves - therefore everyone has motivation to exaggerate . With that in mind, they are all ( OPEC countries) probably lying about how much oil they have.


yep, it is true, the more they sell the more they have in reserve, lol.

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Didnt we hear that before 'xxxx Surpass Saudi's'

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