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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The major international oil companies want in on Venezuela because the world has reached peak oil demand. This means oil surpluses and falling prices.

Venezuela has low production cost($8-$12 a barrel). 
The US is a high cost oil producer. Fracking cost $70-$100 a barrel. If oil is headed to $30-$40 a barrel or lower oil over the next 5 years companies need to find low cost production to make money.

Oil prices in the last five days has fallen by 3.71%. This is with Russian(3rd largest producer) production severely cut and Trump announcing an oil blockade of Venezuela(18th largest producer). [/quote]

The world is past peak oil demand. Prices are low, demand is dropping and it is only Russia and the saudi's who are scrambling to maintain any sort of market share, given the rest of the world has moved on to renewables and nuclear.[/quote]

Shale production does not cost $70-100 a barrel.  It costs half that.  If PP is talking out of their buttocks on that...[/quote]

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