{"id":1310,"date":"2015-10-26T07:57:18","date_gmt":"2015-10-26T07:57:18","guid":{"rendered":"http:\/\/asadkarim.co.uk\/?p=1310"},"modified":"2015-10-26T07:57:18","modified_gmt":"2015-10-26T07:57:18","slug":"the-oil-reserves-of-venezuela","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=1310","title":{"rendered":"The Oil Reserves of Venezuela"},"content":{"rendered":"<p>Venezuela has 17.5% of the world crude oil reserves. That equates to <strong>298.3 Thousand Million Barrels of Oil.<\/strong><\/p>\n<p>That means, with this level of natural resource wealth, Venezuela should be a very rich and prosperous country, like Oman or Norway.<\/p>\n<p>What is the value of 298.3 Thousand Million Barrels of Oil ?<\/p>\n<p>That is: 298.3 x 1000 x 1,000,000 = <strong>298,300,000,000<\/strong><\/p>\n<p>What is the &#8220;crude value&#8221; of this ?<\/p>\n<p>Crude Oil trades today at <strong>$47.54<\/strong> a barrel.<\/p>\n<p>Thus:-<\/p>\n<p>298,300,000,000 x $47.54 =<strong> $14,181,182,000,000<\/strong><\/p>\n<p>That is \u00a39,192,560,000 = <strong>\u00a39.192 Trillion<\/strong><\/p>\n<p>That is about 6 times the UK&#8217;s Annual GDP. Yet Venezuela does not seem to the prosperity that the oil wealth should bring.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Venezuela has 17.5% of the world crude oil reserves. That equates to 298.3 Thousand Million Barrels of Oil. That means, with this level of natural resource wealth, Venezuela should be a very rich and prosperous country, like Oman or Norway. What is the value of 298.3 Thousand Million Barrels of Oil ? That is: 298.3 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1310","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1310"}],"version-history":[{"count":1,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1310\/revisions"}],"predecessor-version":[{"id":1312,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1310\/revisions\/1312"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}