Venezuela sells the US 989,000 bpd of oil in November
The United States has narrowed the energy buy-sale gap
Venezuelan exports of crude oil to the United States better performed in November, as appears from the preliminary numbers collected by the US Department of Energy.
Last month, Venezuela extended its rally and sold around 989,000 barrels per day (bpd) of crude oil to the United States, almost 100,000 bpd, or 11.7%, over 885,000 bpd in October.
Preliminary reports of sales in November also point to a 32% surge over the same month in 2011. At that time, only 748,000 bpd of crude oil would be sent. Exports in October 2012 plunged by 31,000 bpd, or -3.3%, compared to 916,000 bpd in October last year.
The United States has demonstrated a substantial downward trend in its energy imports, whereas its energy exports have risen.
Approximately 86% of the energy imported by the United States in 2011 accounted for oil. Canada was the major supplier, followed by Mexico, Saudi Arabia, Venezuela and Nigeria.
Overall, 40% of the oil bought by the United States last year came from the Organization of Petroleum Exporting Countries (OPEC).
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.