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Chavez threatens to halt oil sales to US
www.news.yahoo.com ^ | 2/10/08 | SANDRA SIERRA

Posted on 02/10/2008 2:07:55 PM PST by personalaccts

Chavez threatens to halt oil sales to US By SANDRA SIERRA, Associated Press Writer 13 minutes ago

CARACAS, Venezuela - 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.

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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.

A U.S. Embassy spokeswoman did not immediately return a call seeking comment.

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.


TOPICS: Business/Economy; US: District of Columbia
KEYWORDS: chavez; energy; exxonmobil; mccain; oil; pdvsa; venezuela
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I guess President McCain doesn't have and idea of what to do since he's oppossed to:

drilling in Alaska 45 miles off the coast of Fl (sad that China and Cuba are drilling)

1 posted on 02/10/2008 2:07:59 PM PST by personalaccts
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To: personalaccts
Nothing that a little slant drilling won't solve.

"I drink your milkshake. I drink it up!"

2 posted on 02/10/2008 2:08:48 PM PST by inkling (exurbanleague.com)
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To: personalaccts

Have we nuked him yet?


3 posted on 02/10/2008 2:09:13 PM PST by MNJohnnie (http://www.iraqvetsforcongress.com ---- Get involved, make a difference.)
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To: personalaccts
Chavez threatens to halt oil sales to US

Bring it on you commie POS!

4 posted on 02/10/2008 2:09:37 PM PST by Bigun (IRS sucks @getridof it.com)
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To: personalaccts

Good. Let him. His economy needs our cash. He’ll hurt himself mroe than us.

Maybe this will spur us to increase domestic production — but I guess not if McCain is in the Whtie House, no Hillary or Obama. so don’t vote for any of them. Vote only for candidates who actually care about our long-term security enough to promote energy independence.


5 posted on 02/10/2008 2:09:50 PM PST by TBP
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To: personalaccts

At least if Chavez won’t sell to us, we don’t have to worry about how to promote an effective boycott!


6 posted on 02/10/2008 2:11:13 PM PST by G Larry (HILLARY CARE = DYING IN LINE!)
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To: personalaccts

Hey Chavez, hows sales at your Citgo stations coming along?


7 posted on 02/10/2008 2:12:24 PM PST by driftdiver
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To: personalaccts

What an idiot. So they don’t sell directly to us, but they seell to someone else who sells to us. Net cost increase per barrel... pennies.


8 posted on 02/10/2008 2:12:44 PM PST by AmericaUnited
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To: personalaccts
"If you end up freezing (Venezuelan assets) and it harms us, we're going to harm you,"

Gosh, we'll be forced to buy oil from . . . everybody else, who will trip over themselves to take over Venezuela's market share.

My take on it is that you're running out of cards, Pig Eyes.

9 posted on 02/10/2008 2:13:37 PM PST by SamuraiScot
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To: personalaccts

Their oil stinks anyway. Really dirty and heavy.


10 posted on 02/10/2008 2:14:34 PM PST by freekitty (Give me back my conservative vote.)
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To: personalaccts

He would be cutting his own nose off. Our refineries are the only refineries that can process his crude.


11 posted on 02/10/2008 2:14:51 PM PST by golfisnr1 (Democrats are like roaches - hard to get rid of.)
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To: personalaccts

It’s time to wage total cyber warfare on the Venezuelan banking and military networks.


12 posted on 02/10/2008 2:15:06 PM PST by navyguy (Some days you are the pigeon, some days you are the statue.)
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To: TBP

With these 2 economic genius’s Chavez & McCain, the best thing going is to dump Venezeula oil and let them sell it somewhere else, we’ll buy oil on the world market and boycott everything Chavez!


13 posted on 02/10/2008 2:15:07 PM PST by iopscusa (El Vaquero. (SC Lowcountry Cowboy))
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To: personalaccts

We should invade him and take his damn oil and claim it our own. He’s threatening us and it should be viewed as a threat. It’s a threat to our national interests - no matter how you slice it. Screw the peacenicks... when they whine that we’re “Invading Venenzuela for their oil”, we can say “Damn right we are!” ...


14 posted on 02/10/2008 2:15:09 PM PST by ConservativeTrucker (ConservativeTrucker.com - News Headlines, Opinions, and more - by a rightwing American trucker)
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To: personalaccts

Oh well, oil wells that aren’t serving us make great targets for cruise missiles.


15 posted on 02/10/2008 2:16:17 PM PST by Dreagon
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To: personalaccts

The US should quietly give Exxon enough H1-B visas to hire the best Venezuelan petroleum engineers.


16 posted on 02/10/2008 2:16:21 PM PST by Vince Ferrer
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To: personalaccts

Chavez is Spanish for Mugabe, I see.


17 posted on 02/10/2008 2:17:16 PM PST by Our man in washington
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To: personalaccts
The only way he can stop us from getting as much oil is if he stops selling completely. Otherwise if he sells it somewhere else then the suppliers that were supplying that “somewhere else” simple comes to us.

The other major problem he has is his oil is heavy sour crude. Virtually all the refineries that can refine it are in the US.

So it is fine with me if we play chicken with him. He's got the far weaker position.

18 posted on 02/10/2008 2:17:41 PM PST by DB
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To: Vince Ferrer

They’ve already left.

Oil production has be declining there for some time now.


19 posted on 02/10/2008 2:18:32 PM PST by DB
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To: All

Methinks “Happy Hugo” is asking for a cruise missile enema?


20 posted on 02/10/2008 2:18:40 PM PST by BigEdLB (BigEd)
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