Chavez Threatens To Cut Off U.S. From Oil
CARACAS, Venezuela (AP) - President Hugo Chavez on Sunday threatened to cut off oil sales to the United States in an “economic war” if Exxon Mobil Corp. wins court judgments to seize billions of dollars in Venezuelan assets.
Exxon Mobil has gone after the assets of state oil company Petroleos de Venezuela SA in U.S., British and Dutch courts as it challenges the nationalization of a multibillion dollar oil project by Chavez’s government.
A British court has issued an injunction “freezing” as much as $12 billion in assets.
“If you end up freezing (Venezuelan assets) and it harms us, we’re going to harm you,” Chavez said during his weekly radio and television program, “Hello, President.” “Do you know how? We aren’t going to send oil to the United States. Take note, Mr. Bush, Mr. Danger.”
Chavez has repeatedly threatened to cut off oil shipments to the United States, which is Venezuela’s No. 1 client, if Washington tries to oust him. Chavez’s warnings on Sunday appeared to extend that threat to attempts by oil companies to challenge his government’s nationalization drive through lawsuits.
“I speak to the U.S. empire, because that’s the master: continue and you will see that we won’t sent one drop of oil to the empire of the United States,” Chavez said Sunday.
“The outlaws of Exxon Mobil will never again rob us,” Chavez said, accusing the Irving, Texas-based oil company of acting in concert with Washington.
Venezuela accounted for about 12 percent of U.S. crude oil imports in November.
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Why is he still breathing? The populace can’t stand him anymore, and anyone with wealth that is not a government crony is leaving the country.
February 10th, 2008 at 4:27 pmForget this coke head. we will get your oil one way or another so go ahead and cut us off
February 10th, 2008 at 4:30 pmI’m guessing this is an empty threat. Seeing as we are the largest consumer of oil and that he needs oil revenue to keep his tinhorn dictatorship afloat, this action would be a cutting off of the nose to spite the face. If he thinks other countries would up their consumption to compensate, he’s dreaming: their consumption will continue to rise at it’s previous rate and ll he would be doing is removing a valuable source of income. The act would most likely hurt him much more than it hurts us.
February 10th, 2008 at 4:49 pmWhat a shrewd businessman Jabba is …
Bet he ran one hell of a lemonade stand as a kid, eh?
Can’t wait to see his fat nuts being roasted in the city center of Caracas.
February 10th, 2008 at 5:03 pmWho cares? If I recall correctly, we’ve already made up the diff in Chavez crude with exports from Azerbajan.
7-11 cut them completely off already. So let him take his fucking oil and shove it up his ass.
Besides isn’t it time we get off of foreign oil anyways? This could be a great start to a all-out campaign by the US to be energy self-sufficient.
We have huge untapped oil resources, untapped gas reserves and 1/3 of the world’s coal deposits. WTF do we need with this puke’s oil for anyways? Answer: We don’t need it.
February 10th, 2008 at 5:47 pmWhat’s Chavez going to do with the oil? It’s all he’s got that is worthwhile and since his oil is the heavy sulfur crap, the Chinese can’t even crack it without major problem.
Sorry Hugo. CITGO’s spend billions just to refine your crap. Idle threat unless you want to starve more Vens.
February 10th, 2008 at 6:27 pmA banana republic dictator threatening us? Well, its good for a chuckle.
February 10th, 2008 at 6:55 pmis this a threat or a promise? Dear president dickhead of venezuela, Please, please stop selling oil to us! then we have every reason to gather oil within our own borders.
February 10th, 2008 at 6:58 pmThe last line shows that it may only hurt his own country which he usually fails to pay attention to. Someone get this vato into check.
February 10th, 2008 at 8:34 pmVenezuelan crude looks like black shoe polish wax at room temperature. The refineries on the U.S. Gulf Coast for the most part are built to process this stuff. Similar to it is Mayan Crude from Mexico and some of the SE Asian crudes like Udang from Sumatra. Actually lighter higher sulfur crudes like Isthmus from Mexico and Alaskan North Slope are used to blend with it.
Now does this mean that PDVSA is going to stop shipping to refineries that it owns in Corpus Christi, Houston & Lake Charles? They were built (via modifications in the 1970’s & 1980’s) to process heavy crudes and have large coking units (it is black stuff not powder) that squeeze a little more for gasoline production while make petroleum coke which is used a lot in cement kilns and in alumina smelting as part of Soderberg Carbon Anodes are Pre-baked Calcined Petroleum Coke Anodes to make aluminum. They carry electrical charges to the alumina pot and are gradually sacrificed in the process of making aluminum.
You must realize that when oil is trading at $90 per bbl (42 US Gallons) they are getting far less than that because of the difficulty in processing it. Same with those higher sulfur crudes from Mexico and Alaskan North Slope.
Refineries set up to process primarily Middle Eastern Crudes could never handle Venezuelan Crude, not unless their owners were willing to invest anywhere from a few hundred million to a few billion in equipment to each refinery.
February 10th, 2008 at 8:36 pmWatch out Mr. Presidente, perhaps we’ll arm Guyana and they’ll kick your ass on our behalf just for the heck of it.
February 10th, 2008 at 8:45 pmDo us the favor and cut us off.
Time to drill in Anwar.
Time to use more coal, solar, wind what ever-the heck it may be.
Time for a U.S. Marshall Plan on energy, that is what the time is for.
Do us the favor and cut us off.
Time to drill in Anwar.
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Huh? You rang?
February 10th, 2008 at 9:10 pm
Yes sir.
February 10th, 2008 at 9:19 pmMa`am …
February 10th, 2008 at 9:20 pm