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The AAPG/Datapages Combined Publications Database

AAPG Bulletin

Abstract


Volume: 13 (1929)

Issue: 9. (September)

First Page: 1187

Last Page: 1209

Title: Geologic and Economic Notes on Venezuelan Oil Developments

Author(s): Edwin B. Hopkins, H. J. Wasson (2)

Abstract:

Venezuelan oil importance rests on three factors: (1) large reserves, (2) favorable legal and political situation, and (3) economic advantages over many other sources of oil.

The first two points are touched on briefly, and the third is more fully developed to include certain conclusions with respect to market zones in general and the influence of Venezuelan oil in particular on sources of production in the United States.

The conclusion is that Venezuela and other sources of low-cost oil, such as the West Texas, California, and the Gulf Coast, will displace increasing amounts of Mid-Continent oil in the Atlantic Seaboard market, and that Mid-Continent oil, if so confined to its normal economic market, may yield to its owners a greater ultimate profit.

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