Just now, impulse said:

Setting aside the political, (like Russkie sanctions), Europe shouldn't care where it comes from. Just how much is on the market, because that's what affects the price. Supply and demand.

If Venezuela's production can be resurrected, that will increase the supply and Europeans will benefit. So will every net importer of oil.

Greta may not be pleased, though.

And why wouldn't those lower prices also benefit countries like the United States that are net exporters of oil? Unless of course, you believe that what's good for US Big oil is good for most Americans.

And why would Chevron want to lower the world price of oil? Apart from the obvious reason, It's got huge commitments elsewhere. For instance, in Kazakhstan where it's currently negotiating a renewal of its contracts. I don't think that the kazakhstanis will be too pleased with Chevron if it's complicit in lowering world oil prices

21 minutes ago, JBChiangRai said:

It's no secret BRICS wants to change that.

Exceptions & Alternatives

• China: Promotes the use of the yuan (CNY) in oil purchases, especially via the Shanghai crude futures market. Some deals with Russia and Middle Eastern suppliers are settled in yuan.

• Russia: Since Western sanctions, Russia has shifted many oil sales to rubles, yuan, and other currencies.

• India: Has experimented with paying for Russian oil in rupees.

• Iran & Venezuela: Often use barter or alternative currencies due to sanctions.

• EU: While oil is priced in dollars, European buyers sometimes hedge or settle portions in euros.

And what percentage of oil inthe world oil market is the price of oil settled in currencies other than the dollar?

44 minutes ago, Hummin said:

Myst be hard for you, when all we need to reply with, is told you so.

Living in denial can also takes its toll!

Life is great for me and mine, thanks!

37 minutes ago, Alan Zweibel said:

And what percentage of oil inthe world oil market is the price of oil settled in currencies other than the dollar?

The point is countries are plotting to increase that.

1 hour ago, impulse said:

You've just made my point... It ain't about stealing Venezuela's oil. We (the USA) don't need it. Europe does. So do some other places.

So basically, what you're saying is that there's no financial incentive for the USA to "steal" Venezuela's oil. We're already producing more than we use.

The 'incentive' is to have control of over half of the world oil reserves and a counterbalance to Russia and China's influence. Also helps that American oil refineries are particularly suited to that kind of crude.

1 minute ago, JBChiangRai said:

The point is countries are plotting to increase that.

The point is that's been going on for a while and there's no evidence that Trump has taken this consideration into account.

On 1/5/2026 at 9:23 AM, impulse said:

I wonder what the going rate is for paid protestors?

Yeah, really. I might need to head to the states to get some of that dough. (my daughter lives in South San Fran. She could probably find me a homeless shelter and In oculd visit her & husband on Sundays for dinner. 😆🤣😉)

8 hours ago, FrankieGoesToHolly said:

The 'incentive' is to have control of over half of the world oil reserves and a counterbalance to Russia and China's influence. Also helps that American oil refineries are particularly suited to that kind of crude.

I'd say partially true. The US President isn't really after the oil even though he lists the theft of the concessions as an injustice done to the petroleum companies who had been awarded them by the previous governments prior to 1975. Exxon, Shell and Mobil/Conoco lost a lot of money when one considers the cost to discover and develop the reservoirs. Texaco (now Chevron) worked some sort of a deal with PDVSA ( Petróleos de Venezuela S.A.) and stayed. The President is discussing the oil as a matter to keep China and Russia from controlling the Venezuela oil and gas. So I agree with your comment.

The partially true comment in my first sentence is using the word "incentive" and having control over half the world's oil reserves. The second part is that Trump really does not like the dictatorship, narcotics pipeline and Maduro. Venezuela haven't had fair elections since who knows when. Probably from the time in the 70's when the Socialist took over.

In addition to the oil, Venezuela also holds one of the largest natural gas reserves in South America (~200+ trillion cubic feet). This is much more interesting to Europe and of course the US and it remains underdeveloped and underutilized. It makes perfect sense to try and stabilized the Venezuelan government into one actually representing the Venezuelan people and not Maduro and his cronies.

On 1/5/2026 at 9:45 AM, impulse said:

The US is already a net exporter of oil and gas. Any additional oil freed up by improving the investment and production situation in Venezuela is going to be consumed in places other than the USA, and it will drive down the price of energy in places like Europe, where their economies are being crushed by the high cost of energy.

On behalf of the American taxpayer, you're welcome.

You mean on behalf of US oil giants surely. Reckon they're gonna to get what they didn't in Eyerack eh?

On 1/5/2026 at 9:23 AM, impulse said:

I wonder what the going rate is for paid protestors?

Under Trump - their freedom.