Venezuelan oil exports to the USA: You say you want a revolution…

September 22, 2009

You have to love this graph of the percentage of Venezuelan exports to the US by Ramon Espinasa which was published in today’s El Mundo. As you can see, 74% of the country’s oil exports go to motorize the Evil Empire an all time high, proving the Beatle’s wisdom when they said: “You say you want a revolution, oh well, you now we all want to change the world”


22 Responses to “Venezuelan oil exports to the USA: You say you want a revolution…”

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  4. Jason Says:

    I don’t think Chavez really has anything against America as such – consider he gives subsidised oil to several states. It’s the foreign policies of the US Federal Govt he has a problem with. They don’t like him either though, but are too economically addicted to the oil to say no (America itself would survive cutting off the oil, but powerful figures would be toppled, to be replaced by some new status quo).

    The increase is more to do with the increased gas-guzzling tendencies of the US, it’s better to sell as much oil close-by than to send it further afield.

  5. […] Venezuelan oil exports to the USA: You say you want a revolution… […]

  6. Martin Says:

    Just shows the window of opportunity existing right now for the US to put the squeeze on Chavez by exploiting this situation, with oil at $69 a barrel, while doing minimal damage to their own interests. Start pressuring Citgo, restricting imports, diversifying elsewhere (Brazil?). Fat chance Obama will do anything, of course.

  7. kocavio Says:

    According to Espinasa, the drop in exports to the United States has been slower than the drop in total exports. Therefore, Venezuela’s exports have tended to be concentrated in exports to the United States. This is for strictly economic reasons, first the exports from the Strategic Associations by design go to refineries in the Unite States and these are an increasing fraction of total exports, and second, the economies that the CITGO system provides for PDVSA, which is designed to value the Venezuelan crudes, which would be sold at lower prices in other destinations.

  8. jen Says:

    Would you believe that Venezuela sent oil to Newfoundland (Canada) to be refined in the 80’s…long way to send oil huh?

  9. Gringo Says:

    Here is data for US imports of oil from the 1980s on. Tends to support the graph, as it shows US imports from Venezuela going from 544 BOPD in 1984 to 1020 bOPD by 1990. Have to track down Venezuelan oil exports.

  10. torres Says:

    Is this the percentage of USD that oil represents of total VE export value?

  11. Kepler Says:

    It still does not compute. I don’t think Venezuela was sending most of its oil ever to Europe and Asia was not present in Venezuela’s radars in the eighties, as far as I know.

  12. Balvant Rajani Says:

    The data on the US import of Venezuelan oil from 1993 to 2009 can be found here . This data indicates that the average between 1993-2008 seems to be about 1.3-1.5 MM/day. It has not varied much.

    Could it be that % oil exported to US has increased over the years because the Venezuelan oil production has dropped?

  13. moctavio Says:

    Remember Venezuela had refineries in Europe and produced light sweet oil mostly that could go anywhere, CITGO was not owned by Venezuela and the internationalization policy was beginning then. Brazil did not produce much oil then. I dont have the numbers that far back, but the industry was different.

  14. GWEH Says:

    you like to reference that song all the time… lol

  15. bruni Says:

    My same reaction when I saw the graph…just 30% of the oil going to the US in 1984 ?

    Let’s say that I am VERY surprised by that value.

  16. Kepler Says:

    Miguel, how is that possible? If I read that well, 30% of Venezuelan oil exports were going to the US. That means 70% was going somewhere else. Where?

  17. Ulises Jorge Says:

    Great… If I may, can I have the link to the original article in El Mundo..?



  18. […] Venezuelan oil exports to the USA: You say you want a revolution… « The Devil’s Excrement – view page – cached + Venezuelan oil exports to the USA: You say you want a revolution… + Chavez’ Economic non-plan + Forrest “Jimmy” Gump Carter: Stupid is, stupid does… + Chavista Management at its best, some case studies + When ignorance takes over a country: Minister of Science Chacon and — From the page […]

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