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.
Remember, Jimmy Carter and a handful of Chavez's cronies elected this pos. He WASN'T elected by the people of Venezuela.
He sounds a lot like Norieaga, at this point. And making the same idiotic assumptions, that resulted in his diminishment of stature.
Translation: he's reached a deal with OPEC such that if it looks like he's going to lose power, he'll ensure that oil goes to $100/bbl, in exchange for a large contribution to his retirement account in Lichtenstein
And that's even taken into account refineries being switched from MTBE to ethanol.
I believe $100 oil is coming this year.
*taking
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.Too bad Jimmy Durant didn't heed your advice. Durant was the creator of General Motors (1908). By 1920 had had lost the company, regained it, then lost it again. He spent the 1920s running another car company with moderate success, and otherwise made fabulous speculating in the markets. Working with over a billion in funds from partners, he saw Oct. '29 coming and had sold out by that Aug or Sept. Then he jumped back in at the first rebound the next year. By 1932, he was spent.
His was one of the greatest plays ever. Too bad, for he could have bought back GM flat at its eight buck low in '32.
Why didn't the CIA liquidate this effer years ago?The CIA didn't do it, but here's what happened to Somoza on HIS last trip to Paraguay...
Btw, the engine was still running smoothly. M-B sales skyrocketed down there after that came out!
With apologise to pissant, life sucks when your a pisssant
Well, we could always ratchet up the rhetoric a bit more by 'promising' to nuke Venezuala into radioactive slag should Chavez carry out his rhetoric...
It would be interesting to see how Chavez would respond should the US decide to play his 'rhetoric' game.
Sounds like he has been reading to many sadam books.
How did Reagan get oil prices to plunge from $50/bbl to $20/bbl within a year, igniting the terrible economic malaise that characterized the end of his Administration?
If my memory serves me correctly, the dollar was weak against foreign currencies. As soon as he got elected, the dollar took off. I was in Italy at the time. The Lira went from 800 to 1200 Lira to the $ in a matter of weeks. I think the dollar rose in similar fashion against other currencies.
Better sell your 7-11 stock, too!!!
Looks like a "harmonic convergence" to me! (grin)
Who the hell is BushBotBasher?
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