"The biggestgeostrategic change of the past decade overlooked by Washington
policy wonks in their fixation on their self-proclaimed “war on terror” is that
Latin America has been throwing off the shackles of the Monroe Doctrine.
These ignored developments may well soon refocus Washington’s attention on
the Southern Hemisphere, as Venezuela’s President Hugo Chavez reorients his
country’s to China.
It is not an inconsiderable element of concern for the Obama administration.
According to the U.S. Energy Administration, the United States total crude oil
imports now average 9.033 million barrels per day, with the top five exporting
countries being Canada (2.666 mbpd), Mexico (1.319 mbpd), Saudi Arabia (1.107
mbpd), with Venezuela in fourth place at 930 thousand barrels per day. Note that
two of America’s top four energy importers are south of the Rio Grande.
Furthermore, Venezuela’s reserves according to OPEC
now top those of Saudi Arabia, with Venezuela now estimated to have the largest
conventional oil reserves and the second-largest natural gas reserves in the
Western Hemisphere. Two years ago OPEC reported that of the organization’s 81.33
percent of the globe’s known oil reserves Venezuela had 24.8 percent, exceeding
Saudi Arabia with 22.2
So, why is Chavez in Washington’s bad books? Well, among other reasons, for
the company he keeps, as the Russian Federation, Iran and Cuba are all allies.
Note that the first two are also major oil exporters..."
at http://www.zerohedge.com/news/guest-post-venezuela-ramps-china-oil-exports-unsettling-washington
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