This one comes as a shocker but new exploration efforts seem to have found that Venezuela has far more oil than previously believed. Coming from the US Geological Survey, they appear to be legit.
The geologists estimate the area could yield more than 500bn barrels of crude oil.
This assessment is far more optimistic than even the best case scenario put forward by President Hugo Chavez.
We’ll see if this pans out and if it makes Chavez more aggressive.