13 October 2004

Venezuela raises oil drilling tax

BBC NEWS | World | Americas |



Hmm, looks like they're on to something: not only recognising that Venezualan oil productivity is three times the pre-estimate but I suspect, doing this just as oil produciton is peaking is a smart financial move. The implications are a further reason to beleive that oil prices may not be about to reduce much, if at all, further fuelling [sorry] renewables' development.

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