CARACAS, Thursday July 12, 2012 | Update

Venezuela buys more US gasoline since 2011

In December 2011, 11.3% out of the domestic monthly consumption was imported

The United States also reactivated the sales of liquefied gas (File photo)
Thursday July 12, 2012  10:33 AM

While Venezuelan oil exports from state-run holding Petróleos de Venezuela (Pdvsa) to the United States go downhill, a hike in the volume of gasoline bought from the United States has been recorded since December 2011.

Data of the statistical arm of the US Department of Energy show that in December 2011, Venezuela imported one million barrels of finished gasoline from the United States. This accounts for approximately 11.3% of the total demand of the Venezuelan domestic market, nearing 8.79 million monthly barrels ending last year.

December 2011 numbers are tantamount to the imports of gasoline from the United States in February 2003, following the oil strike staged throughout Venezuela. At that time, exactly 1.01 million barrels a month were purchased.

On aggregate, the purchase of crude oil and byproducts from the United States in December 2011 stood for 2.21 million barrels, 152% over the purchases recorded in December 2010, for a total of 875,000 barrels.

As quoted by Efe, the numbers of last April produced by the US Department of Energy point to exports to Venezuela for 1.62 million barrels of refined products, including gasoline, heavy fuel, liquefied gas and additives.

This is all there is

A simple reason: there is oil galore, would suffice to explain Guyana's actions. Another explanation lies in the little or none efforts made by the Venezuelan government to thwart the move by the Guyanese. This is certainly not a new problem, but a problem only recently highlighted because oil is involved. But what other resources does the disputed area hold? For most of us it is a section on the map with black and white stripes on it, a depiction of something distant, alien, a nothingness not worth paying much attention to in geography classes back in elementary school.

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