DanG
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Venezuela's Chavez threatens to cut oil to U.S.
| Quote From Source: | Venezuelan President Hugo Chavez has threatened to cut off oil supplies to the United States if U.S. oil company Exxon Mobile Corp. does not stop its legal action to seize billions of his country's assets.
Chavez's threat caused oil prices to spike on Sunday to nearly $93 US a barrel before retreating slightly in Monday trading in the Asian markets.
Venezuela accounted for about 12 per cent of U.S. crude oil imports in November, the latest figures available from the U.S. Energy Department. The 1.23 million barrels a day from Venezuela makes that country the U.S.'s fourth-biggest oil importer behind Canada, Saudi Arabia and Mexico.
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http://www.cbc.ca/world/story/2008/02/11/chavez-oil.html
Ding - just like that - 4 bucks a gallon. |
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Indy
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That might be enough for $5 a gallon. Supplies were tight as it is. Losing 12% would be tough to swallow.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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Dr.Thrax
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Especially with the prices at the pump today.
You know the expression, "Don't quit your day job?" Well what do you say to
people that work nights? |
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DanG
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Venezuela halts oil supplies to Exxon
| Quote From Source: | Venezuela on Tuesday suspended oil exports to Exxon Mobil Corp, escalating the country's fight with the U.S. oil giant over compensation for a heavy crude project nationalized by President Hugo Chavez.
Venezuelan state oil company PDVSA said it had suspended commercial relations and cut the supply of crude and petroleum products to America's largest company.
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http://www.reuters.com/article/ousiv/idUSN1225071620080213 |
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Dr.Thrax
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| Quote From Source: | During his weekly radio and television program, Chavez said: 'If you end up freezing Venezuelan assets and it harms us, we're going to harm you. We aren't going to send oil to the United States. Take note, Mr. Bush, Mr. Danger.'
| | Click source url to view entire story. |
http://feeds.bignewsnetwork.com/?sid=326260
Gas prices will go through the roof now.
Original Image: edweb.sdsu.edu
You know the expression, "Don't quit your day job?" Well what do you say to
people that work nights? |
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MountainManMike
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when is chavez's time done? in the end, im guessing this is going to hurt them more than us. good call by him not selling his oil to the 1st or 2nd biggest importer in oil in the world. sure, they will sell it elsewhere maybe but that means there will be a surplus somewhere else and we will then buy it from there if we r smart. chavez is really and idiot. |
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MountainManMike
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and=an |
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DanG
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DanG has attached this image:
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Jeffers
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Chavez is looney tunes. |
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FatalWishes
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Ya'll beat me to it....
Venezuela Halts Oil Sales to Exxon Mobil
http://biz.yahoo.com/ap/080212/venezuela_us_oil.html?.v=9
| Quote From Source: | "If they want this conflict to escalate, it's going to escalate. We have a way to make this conflict escalate," Ramirez was quoted as saying.
| | Click source url to view entire story. |
Interesting indeed.
So he just cut off the major source of his income...I wonder how long that will last. I give Chavez a week before he figures out he needs our money more than we need him or his oil.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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MountainManMike
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its funny though how nobody in the media is pointing that out fatal. |
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MountainManMike
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guess it doesnt sell newspapers as well. |
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Indy
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He could sell it at a discount to China.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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FatalWishes
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I bet Wall Street brushes this off as well for two reasons.
1) Demand is down and has been going down for a while so our oil prices have gone down
2) Nobody gives a shit about Chavez and are not worried about his little supply of oil. If shit hit the fan we could get that oil if we had to have it. Not that it would be legal ..but turning the taps back on would not require much effort.
I think CHina has a really good supply right now since most of the country is gridlocked....they may not need any extra oil for a couple of months...and I still give Chavez a week.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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posted on 2/11/2008 at 09:14
