Why Venezuela’s Oil Won’t Matter and Why Heavy Crude Is First Off the Market - CleanTechnica

The article from CleanTechnica challenges the common perception that Venezuela’s vast oil reserves significantly impact U.S. energy security, global oil prices, or the pace of decarbonization. It argues that this view is misleading because the main constraints on Venezuelan oil production are structural and physical rather than political. Venezuela’s crude oil is predominantly extra-heavy and sulfur-rich, located mainly in the Orinoco Belt, which makes extraction costly, slow, and technically challenging. Unlike light, sweet crude that dominates global markets and is easier to refine into gasoline and petrochemicals, Venezuela’s heavy crude requires blending with lighter hydrocarbons and more complex processing, limiting its marketability and economic viability. Despite Venezuela’s reported reserves of around 300 billion barrels—about 17% of the global total—much of this oil is not economically recoverable under current market conditions, which have shifted away from the high-demand, high-price environment of the past. The article also highlights that U.S. oil policy often relies