tribesy; have fun on your trip to irrelevenceville.

So you can't read then as well as being unable to understand
Oh looky , from your posted article......
It will cost at least $32 billion to build another three upgrading units and take some five years,
hmmmm interesting eh ....posted by me .......what is the date that venezuela has put on new production ? you know new production as in new expanded production after a big outlay lots of development and lots and lots and lots of foriegn investment ? .. errrrrr you didn't answer that did you Rabbit ...and again..... after all its not like the plans for the development of the belt have been discussed here about half a dozen times already , or the new contracts , or the new tanker fleet , terminals and pipelines .

But OK I know you can't grasp it , but hey have an easy one , maybe you can do some simple sums .....really simple sums .
If a project is slated to be developed in 1012 and it is now 2008 how many more years is it expected to take ? (have a clue as even something that simple might be beyond your ability , the answer is in the post you made)
But there is something you are completely missing as is the writer of that article , as of course that plan does not envisage pumping more oil from the existing fields , they still want to further reduce that output to both keep the reserves and fiddle the market along with the cartel to ensure maximum revenue , this is to open new reserves and new markets....a bit like their other plan for new sources and new markets that the US blocked by threatening the economies of other countries that were part of the deal , but in this case the belt project involves countries that the US cannot threaten much ....especially as their ideology has given them a screwed economy and crazy global commitments that they cannot come through on yet can't get out of .

So to sum up in simple terms that you may be able to just about grab the basics of ...they have cut production because they cut production , they are further cutting production because they are further cutting production . They are not going for the 3 upgrades on the existing production because they are opening up an entirely new development for a new market that is putting up the cash while on their existing facilities they will still seek a further reduction in output(if the rest of Opec also agree of course ...which is very likely)