US Geological Survey latest assessment indicates Venezuela oil reserves is double of Saudi Arabia reports BBC last Saturday.
1. This is good news for Venezuela which economy depends on its oil revenue.
2. Venezuela neighbors e.g. Cuba, Honduras will continue to benefit from cheap oil from its wealthy neighbor. Cuba in return sends its doctors and top health professionals to serve in Venezuela.
3. The fate of Chavez's 21st Century socialism is anchored strongly to oil revenue. Under his administration significant changes has took place and strong progress are made towards acheiving the UN's MDG.
It is hope there are more projects in future towards improving and sustaining the environment in VE.
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