Venezuela threatens anew to turn off oil spigot to US

Discussion in 'Energy Futures' started by trader99, Aug 16, 2005.

  1. trader99

    trader99

    CARACAS (AFP) - Venezuela's energy minister, Rafael Ramirez, said that Caracas is "ready and willing" to cut off its oil supply to the United States, if there are any signs of aggression from the superpower toward his country.

    "We are prepared to do that, and we stand ready to defend our rights," Ramirez told the official news agency ABN.

    On Sunday, Venezuelan President Hugo Chavez threatened to end oil exports to the United States if Washington did not stop its "aggressions."

    "We do not want to break relations with the US government; it is not in our plans," Chavez said. "But if the aggressions continue, ... this could put diplomatic relations between Venezuela and the United States at risk."

    Washington's attacks could provoke "something more serious: These two daily boats full of Venezuelan oil could head another way instead of going to the United States," warned Chavez, whose country is the fourth-largest provider of oil to the United States, supplying some 1.5 million barrels a day.

    "The US market is not indispensable to us," he told thousands of young people taking part in a youth festival at a Caracas arena.

    Ramirez made a similar statement on Tuesday, declaring that Caracas, the only Latin American member of the Organization of the Petroleum Exporting Countries, had other clients to court, including China.

    He admitted that cutting off Venezuela's oil supply to the United States would affect his country's economy, but he added: "That is just the price we will have to pay to maintain sovereignty."

    Chavez has become an increasingly outspoken critic of the United States, and accuses Washington of planning attacks against Venezuela, while the United States has accused Venezuela of funding efforts to destabilize Latin American neighbors and allowing weapons to cross into Colombia, whose government is battling a leftist insurgency.

    The latest rhetoric from Caracas came about a week after the Venezuelan government announced that it had cut its anti-drug cooperation with the United States, accusing the US Drug Enforcement Administration of breaking local drug laws.

    Venezuela then withdrew diplomatic immunity for US anti-narcotics agents after the United States withdrew visas for several Venezuelan officials in Washington, on suspicion of involvement in drug trafficking.
     
  2. Babak

    Babak

    Politicians who want to shore up support at home have apparently learned a lesson from the Iranian regime.

    First it was Schroeder who said appropos of nothing that he wouldn't back aggression towards Iran by the US (trying to pull a rabbit out of his hat a second time - the first time he said that, albeit for Iraq, he narrowly won the election).

    Now Venezuela comes out with this. Its a great distraction technique, I suppose.
     
  3. let's see....1 1/2 million barrels per day, times 66 + dollars, equals...hmmm, I freaking doubt it. we'd have to foreclose on them.
     
  4. I say we nationalize the country to allow all the Venezuelan women to come to the United States.
     
  5. Do it Chavez, and see how fast we embargo your ass. If you don't sell to us, then you sell to no one.
     
  6. If Venezuela doesn't sell to us, they'll sell to somebody else. And whoever gets their oil from them, will stop buying from others and the US will pick up that oil.

    Unless they stop selling to everybody. That would hurt everybody, but would hurt Venezuela more than anybody else.
     
  7. What's more interesting is that the US is supposedly having big big problems with:

    Iraq
    Iran
    Venezuela

    Gee...I wonder if it has anything to do with...OIL ?????

    Look...the Bush family has got to make some more dough....
     
  8. Banjo

    Banjo

    Extracting from the markets what the donators provide to be extracted is about only two points, the first most relevant and most secure is the "informational advantage", the second is "art of the game advantage" the consumate player who can sense the truth of the play. I provide you an example of informational advantage;

    "Headquartered in Houston, Texas, CITGO is owned by PDV America, Inc., an indirect, wholly owned subsidiary of Petróleos de Venezuela, S.A. (PDVSA), the national oil company of the Bolivarian Republic of Venezuela"
    http://www.citgo.com/InvestorRelations/InvestorRelations.jsp
    Do you think Chavez will stop sending oil to be refined and sold by a company he controls thereby most assuredly placing money in his personal pocket.
     
  9. Look...the public info highway...is often just another tool for pricing enhancement...

    Right now...oil is hot...and the oil players are very very happy...

    The Bush family...and anyone else whereas oil is their business...are very very happy...The Bush's are in oil and wartime goods...and are very excited about their current windfalls...with more to come...as are their cronies...It's their family business...and they have used the political podium to enhance themselves and their cronies....which was very well planned out in the late 90's.....

    Up and down...like any other price...of any stock or commodity...nothing extaordinary....

    Just another trade....
     
  10. "The latest rhetoric from Caracas came about a week after the Venezuelan government announced that it had cut its anti-drug cooperation with the United States, accusing the US Drug Enforcement Administration of breaking local drug laws.

    Venezuela then withdrew diplomatic immunity for US anti-narcotics agents..."
    _________

    Sadly, this shitty little communist dictator is closer to the spirit of America's founding fathers on this subject than our own rulers.

    "A prohibition law strikes a blow at the very principles upon which our government was founded. Prohibition goes beyond the bounds of reason in that it attempts to control a man's appetite by legislation, and makes a crime out of things that are not crimes."

    ~Abraham Lincoln
     
    #10     Aug 17, 2005