ExxonMobil predicts in their energy report at the end of last year that global energy demand will grow by 60 percent between now and 2030.
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Meanwhile Chavez is picking fights with foreign oil companies including Shell, ExxonMobil, Repsol YPF, Chevron, BP, and Total that have been working in Venezuela for years. Thirty-two publicly traded oil companies are accused of owing Venezuela 4 billion in back taxes for overproduction something they deny. This follows Venezuela's hikes in production royalties from 1 to 16.7 in October, hikes in taxes on operating agreements from 32 to 50 in April, and a declared end to contracted dollar payments to foreign oil field operators in May. The desire to operate in Venezuela, ... is fading fast.