...and in other news today, Hugo Chavez denied that he's talking up the price of oil, his nation's #1 export commodity...
Posted on 04/19/2006 2:25:58 PM PDT by economist-student
Ratcheting up a war of words with Washington, President Hugo Chavez said on Wednesday that Venezuela would blow up its oil fields if a US attack he has repeatedly warned about becomes reality.
While many Chavez supporters in poor neighbourhoods consider a US invasion a real threat, critics and most international observers call it a far-fetched fantasy designed to fire up Chavez's political base.
"We would not have any alternative... We will blow up our own oil fields... they are not going to take that oil," Chavez said in comments broadcast on state television from a meeting of South American presidents in the Paraguayan capital Asuncion.
"If they harm us there will not be any oil for anyone." he added.
Chavez said on Tuesday that the recent deployment of US warships in the Caribbean Sea threatened his country and its ally Cuba.
Venezuela is the world's No.5 oil exporter and a major supplier to the United States
At permanent loggerheads with Washington, which accuses him of destabilizing Latin America, leftist Chavez often warns of a planned US invasion to oust him.
Washington brushes off the possibility of an attack as fantasy.
Looks like Venezuela may be on its way to becoming a large Jonestown.
It makes you wonder just how wild it's going to get re energy. Every net exporter except Mexico and Canada are crapping their pants that the USA will go primitive on them to stay in the game. This tells me there are some crazy days ahead. Kind of like during the great whale oil shortage of 1880 :).
LOL...Now this is really getting serious.
Chavez ping.
That's ok Hugo. We were going to have to rebuild them anyway after the nuclear blasts.
...and in other news today, Hugo Chavez denied that he's talking up the price of oil, his nation's #1 export commodity...
This guy is a nutball.
Sheehan is thinking: "Oh my goddess! He's SO dreamy!"
Chavez is thinking: "I may be insane, but I'm lucid enough to stay the hell away from THAT."
Hugo's mommy needs to put down the tequila, get up and paddle little Hugo's ass for a change.
He's surely not working in conjunction with that crazy bum from Iran! /sarcasm off
I wonder if we can make it look like we're about to invade--and get him to blow up his own oil fields?
That ought to get his own people to get rid of him: "You idiot, you just cut off the gravy train!"
Indeed. Even if he were to do that, it would certainly mean the end to Venezuela.
Venezuela without oil makes Haiti look like Switzerland...
BTW, Chavez's thugs in the army engage in gas smuggling (buying gasoline at $0.15 a gallon and selling it at about $1.90/gallon) That's why they closed down the competition at the Colombian border.
Here it comes boys, $100 a barrel oil! The speculators are liking their chops, and we are getting screwed without the courtesy of a reach-around!
To paraphrase El Dictator:
LOOK AT ME, LOOK AT ME, LOOK AT ME. REMEMBER ME?!
I counted more than 1 million open interest contracts last Monday. More on 2 oil than crude, but still looks like a house of cards if demand craters and I think its possible at $3/gal gas.
"If they harm us there will not be any oil for anyone." he added.
OH NO!?!?.......... no more CITGO's??
Wait for the parabolic top and the inevitable correction. Then, wait for the secondary run at the old highs -- there has been a secondary run in every parabolic bull mkt in history, bar Jan 2000 NG -- and then sell on the 2nd day down after the secondary top fails. If the second run makes new highs (never has, btw), keep playing the waiting game, then enter when the next run fails, same conditions. License to print money.
Looks like this setup will occur in SI before HO or CL, though. Who knows, may get a double play this year (and that would be suh-weet indeed!)
Further details in ''Trading Options To Win'', pp.226-231.
Also, fwiw, I think the crack spreads are going to offer huge opportunities later this year. What say you?
He sounds like a little kid saying, "I'm taking my ball and going home!"
Why didn't the CIA liquidate this effer years ago?
Yes, they are; and I'll bet they're licking them, also.
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