Chavez Threatens to Halt Oil Sales to US

[ms]

 

 
     
 
Chavez Threatens to Halt Oil Sales to US 
 
Feb 10 06:23 PM US/Eastern
By SANDRA SIERRA
Associated Press Writer 4 Comments         
 
 


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  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.

Exxon Mobil spokeswoman Margaret Ross said the company had no comment. A U.S. Embassy spokeswoman in Caracas did not return a call.

Venezuela accounted for about 12 percent 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.

Venezuelan Oil Minister Rafael Ramirez has argued that court orders won by Exxon Mobil have "no effect" on the state oil company PDVSA and are merely "transitory measures" while Venezuela presents its case in courts in New York and London.

Exxon Mobil is also taking its claims to international arbitration, disputing the terms it was granted under Chavez's nationalization last year of four heavy oil projects in the Orinoco River basin, one of the world's richest oil deposits.

Other major oil companies including U.S.-based Chevron Corp., France's Total, Britain's BP PLC, and Norway's StatoilHydro ASA have negotiated deals with Venezuela to continue on as minority partners in the Orinoco oil project.

ConocoPhillips and Exxon Mobil, however, balked at the tougher terms and have been in compensation talks with PDVSA.

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[powderman]

I'm happy to say that ALL FIVE of the local citgos have been replaced with mostly Marathon stations. POWDERMAN. 

[crustaceous]

Perfect, now Bush has an excuse to make a preemptive strike, wrap it up in six months, get gas down to  buck a gallon and leave office a hero

[Dee]

Bush doesn't need an excuse.

[Questor]

Actually I think this will be seen as a stroke of genius in environmentalist circles because it will reduce Venezuela's carbon footprint.

[rex6666]

I was amazed and happy to hear that the U.S. imports more oil from Canada than any other
source, I like Canada. This dude in S.A. is going to wake up some day and wonder what
happened.

[Sourdough]

And here we sit on lots and lots of oil and natural gas, and no one will produce it.  Leave it in the ground.  Buy it from foreign sources.

[Cheesehead]

Bush says Chavez has WMD's,,,,,

[beemanbeme]

It's no biggie as Chvez has taken a major hit in the U.S. in his oil sales because of his anti American stance.  He has tried re-naming some of his outlets --I don't think it Marathon-- but it hasn't worked.

[powderman]

I believe that Marathon is the only one that uses strictly American oil and is owned by Americans. Could be wrong. POWDERMAN. 

[SHOOTALL]

let him do what he has to do ! we got oil lets get on with it !
lets find something cheaper and put him out of business !
Oh no ! ya'll don't think him and Bush are conspiring to force us away from oil do ya ! not a new theory !

[nodlenor]

One thing I would like to know, if the foreigners are the ones responsible for high oil prices, why are our oil companies making billions of dollars in profits. I think we are being taken for a ride by our own greedy people. I have heard many times about alternative fuels over the years but we keep burning gas & diesel. Why is this? It wouldn't be because somebody with a lot of money and therefor a lot of pull won't let it happen would it?

[Dee]

Here's the funniest part about our RECORD PROFIT oil companies lie. Diesel is a BY PRODUCT in the refining of gasoline, yet COSTS MORE, than gasoline at the pump.
WHY? Because the shipping industry rides on diesel, and HAS to have it, no matter what it costs. Cost is pasted on to the consumer, big business is happy.

[RaySendero]

If Chavez had of stolen a horse instead of billions from Exxon Mobil Corp we could just hang him! 

[copilot001]

Chavez can sell his oil anywhere he wants, any time.  lots of buyers out there.
Just the facts boys.
Of course Busch has his a** in a sling and can,t do anything about him but lay low and hope he,ll go away.

And those are the facts...like it or not.
Are we ready to send in the troops again?

[Dee]

Well actually the FACT is, that Chavez has TRIED to market his oil else where with VERY LITTLE LUCK. There is too much competition from the arabs for him to quit selling to us. He bluffed this same threat LAST YEAR, and it went know where, just caused his sales to go down here. He's either bluffing now, or is STUPID. We only buy about 10% of our oil from them.
This info was even on Fox News AGAIN, as recent as this evening. You know, that fair and balanced news station?
Chavez is a tyrannical moron, and our government owned and controled oil marketeers are a bunch of bandits. The longer the Bush lovers continue to ignore that his family has been business partners with the arabs FOR YEARS, and that Cheney is still not knee deep in Haliburton, and their UNCHALLENGED bids for jobs in Iraq and other places, the longer the banditry will go on.
If Earl Pitts were here now he would say; WAKE UP A-MERRY-CA!

[powderman]

DEE. Kerosene is almost $5 a gallon now, last I checked it was $4.88. POWDERMAN. 

[Dee]

Yea powderman. Ain't that rich? Unleaded has to jump thru so many hoops in each state, that it is refined down to almost nothing, then gets a bunch of additives throw in, and Diesel costs a dollar a gallon more.
The transportation-shippin industry HAS TO HAVE IT (diesel) and the energy companies like Exxon-Mobile know it, as does Bush and associates. And before any one goes up in arms, it ain't just Bush, it has been happening for YEARS. It's just beginning to take more effect. It is BANDITRY at it's worst. The energy companies are getting fabulously wealthy, and the government officials get pay offs in the form of gifts, and financial support for future campaigns, and stock shares. Most politicians go in average on finances, and retire millionaires. How does that happen on the salary they get?
And we the people are brought closer to submission. Thus the disappearing middle class, which is far to "independent" to suit the government.

[SHOOTALL]

The main problem is the unwillingness of the American public to suck it up and do with out for a long enough period of time to make suppliers glad to have a market and smart enough to not abuse the market !
The housing market crunch is of their own doing ! with national builders setting price as to what the buyer would pay vs. value it is of little wonder a correction period was going to happen !
and that "BACK END MONEY " is the carrot suppliers use to get builders to use product and one can clearly see the abuse . Did ya'll know the builder gets BEM for every ton of cooling installed , every window , yard of carpet , every bath tub , every cabinet etc. ............................... and some homeowner is paying on it for 30 years . Now how much equity in a house is lost from BEM inflating cost above value ? did ya know it goes on on the national and local level so some pay twice !
Now is the fuel industry run the same way ? didn't Chavez hand out free heating fuel ? who paid for it ? US !
we worry about the GOVT. playing ROBIN HOOD , it seems we should worry about big business more !

[Chilachuck]

From what I'm reading, that oil can only be refined in the US or in countries on the Pacific Ocean, and, for some reason, he cannot get the ships through the Panama Canal. So he either sells to the US, or loses money selling elsewhere.

I cannot find the cite any more, but 13 of the 14 largest oil companies are supposed to be owned/controlled by governments, mainly Moslem or Socialist, so it's to their benefit if the mess in Iraq gets drug out longer.

Which politicians in the US are trying to "help" Iraq by weakening the efforts to resolve the situation?