Natalie Obiko Pearson, Yahoo! News
Beneath the plains and winding tributaries of the Orinoco River lie what Venezuela believes is the planet's largest oil deposit -- a tar-soaked basin that could help meet spiraling global energy needs.

It's known as the "Faja," or "belt": a strip three times the area of Kuwait potentially holding 1.2 trillion barrels of extra-heavy oil.

Jet-black, sticky and oozing like molasses, Orinoco oil was long written off as too difficult and costly to produce. Now rising oil prices make it increasingly attractive.

President Hugo Chavez, who hosts a meeting of the Organization of Petroleum Exporting Countries on Thursday, says these unconventional reserves mean Venezuela will become the world's leading oil source for decades to come.

Oil-Rich Venezuela Looks to Tar Deposits

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