Tuesday, February 12, 2008

And he's not afraid to do it, either.

Venezuela minister ready to halt oil exports-paper
Tue Feb 12, 2008 9:25am EST

CARACAS, Feb 12 (Reuters) - Venezuela is "ready" to cut off oil supplies to the United States, Energy Minister Rafael Ramirez was reported as saying in a newspaper interview published on Tuesday.

His comments came after President Hugo Chavez threatened to stop sending oil to America over a dispute with Exxon Mobil Corp (XOM.N: Quote, Profile, Research), sparking an oil price rally on Monday. (Reporting by Fabian Andres Cambero)

Ready and willing. But are we ready for what will follow? (That's a rhetorical question - the answer is most certainly "no.")


Garnel Ironheart said...

Chavez won't cut off the oil. He's built a socialist paradise on the back of $95 oil. The US is a big client. If he cuts off oil to the US, he cuts billions of dollars out of his artificial economy and it will collapse.

Ahavah B. said...

He built his paradise in less than a year? Neat trick. It's only been four years since oil was only $25 a barrel - I know it seems like forever, but really it hasn't been. I think it's a bit harder to build a paradise on only the $12-30 per barrel price range during the 20 years from 1985 until 2004.

Ahavah B. said...

PS - New Chart at Right.

Garnel Ironheart said...

He didn't build it in a year but his current level of social programs and military spending has been accelerating over the last 3 years, and especially in the last year because he needed to rig an election.
He wants to scare America but he won't cut off his nose to spit in his face.