Imagine what would happen if Bush were still president!
Posted on 05/25/2011 9:57:50 AM PDT by NRG1973
Venezuela's foreign minister warned late Tuesday that it could no longer guarantee regular oil shipments to the United States after Washington placed sanctions on the Venezuelan state oil company, Petroleos de Venezuela SA (PDVSA), this week. The spat underscores long-running tensions over what Venezuelan President Hugo Chávez sees as America's disproportionate, unjust exercise of power on the world stage.
“There are several proposals that are being evaluated by President [Hugo] Chávez to respond to the United States’ imperialist pretensions,” said Foreign Minister Nicolás Maduro, according to the Miami Herald. A close associate of Chávez accused the US of trying to be "the world's policeman as it steps on the sovereignty of the people."
But for now, the almost 1 million barrels of oil a day that Venezuela sells to the US – 10 percent of US oil imports, more than 40 percent of Venezuela's oil exports – remain on track. Reuters reports that past threats to interrupt the US oil supply never materialized.
(Excerpt) Read more at csmonitor.com ...
Better send Zero down there quick to kiss Hugo’s a$$.
This is Hugho!
It sure would be nice to have back all those domestic reserves that we’ve burned to date.
If we buy 40% of Venezuela’s oil then they need us more than we need them.
If we buy 40% of Venezuela’s oil then they need us more than we need them.
How about another war in an oil producing nation?
Wouldn’t have to worry if we were drilling our own.
Imagine what would happen if Bush were still president!
Hugo has made this empty threat before. They actually need to sell the oil as badly as we need to buy it.
Actually, 43 percent. Some perspective. He needs us more than we need him.
“Venezuela’s petroleum exports have dropped by almost 50 percent, since peaking at 3.06 million bbl/d in 1997. Venezuela sends a large share of its oil exports to the United States because geographic proximity enhances export profitability and because refineries on the U.S. Gulf Coast are specifically designed to handle heavy Venezuelan crude. Currently, Venezuela is the United States’ fifth largest supplier of imported petroleum.
“However, U.S. imports from Venezuela have declined in recent years. In 2010, the United States imported 987,000 bbl/d of crude oil and petroleum products from Venezuela, just 8.3 percent of total American imports. Even factoring in 255,000 bbl/d of imports from the U.S. Virgin Islands, which are almost exclusively petroleum products refined from Venezuelan crude, the significance of Venezuela to the American energy sector is in decline (see chart).”
http://www.eia.doe.gov/cabs/venezuela/oil.html
Chavez makes US oil export threat
http://news.bbc.co.uk/2/hi/americas/4153318.stm
15 August 2005
Hugo Chávez oil threats: Why Chávez won’t cut off oil to the US
http://www.csmonitor.com/World/Americas/2010/0726/Hugo-Chavez-oil-threats-Why-Chavez-won-t-cut-off-oil-to-the-US
July 26, 2010
VENEZUELAN OIL THREAT; DEJA VU, ALL OVER AGAIN
http://www.opednews.com/articles/opedne_brock_no_080218_venezuelan_oil_threa.htm
February 18, 2008
Except “we” won’t be drilling our own oil. Multinational corporations will be drilling our oil out of our ground and selling it on the open market to whoever is willing to pay the most.
Exactly. It's just more saber-rattling from that cut-rate despot.
Furthermore, as I've heard it (and perhaps someone can calibrate me on this...) Venezuela has no domestic refineries, or at least not enough capacity to keep up with their own needs. They have most of their gasoline coming from U.S. refineries in the gulf states.
We should have invaded Venezuela and Cuba rather than Libya.
Venezuelan oil has one of the highest sulfur contents of any oil in the world. The closest refinery that can handle their crude is on the US Gulf Coast. They need us, more than we need them.
Sounds like Venezuela is exercising disproportional influence on the world stage. Chavez should be put in his place.
Right ON
Wasn't 0bama supposed to make everyone love us?
We also refine 100% of their gasoline at a refinery located in St Croix which is in the US Virgin Islands. We could cut off his supply of refined products.
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