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Captain Compassion
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Chavez threatens to halt oil sales to US
By SANDRA SIERRA, Associated Press Writer
Sun Feb 10, 6:23 PM ET
http://news.yahoo.com/s/ap/20080210...n&printer=1;_ylt=Ap8HkSQJ36ZM.vGt12KoA869IxIF
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.
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.
Exxon Mobil spokeswoman Margaret Ross said the company had no comment.
A U.S. Embassy spokeswoman in Caracas did not return a call.
Venezuela accounted for about 12 percent of U.S. crude oil imports in
November, the latest figures available from the U.S. Energy
Department. The 1.23 million barrels a day from Venezuela makes that
country the U.S.'s fourth-biggest oil importer behind Canada, Saudi
Arabia and Mexico.
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.
___
--
If you disagree with the theories and dogmas of Marxism or Scientific Socialism
then you are a tool of Capitalist interests. If you disagree with the theories
or dogmas of Catastrophic Anthropogenic Global Warming then you are a tool of
Capitalistic interests. Notice a pattern here? -- Captain Compassion
The object of life is not to be on the side of the majority but to
escape finding oneself in the ranks of the insane. -- Marcus Aurelius
"...the whole world, including the United States, including all that
we have known and cared for, will sink into the abyss of a new Dark
Age, made more sinister, and perhaps more protracted, by the lights
of perverted science." -- Sir Winston Churchill
Joseph R. Darancette
daranc@NOSPAMcharter.net
By SANDRA SIERRA, Associated Press Writer
Sun Feb 10, 6:23 PM ET
http://news.yahoo.com/s/ap/20080210...n&printer=1;_ylt=Ap8HkSQJ36ZM.vGt12KoA869IxIF
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.
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.
Exxon Mobil spokeswoman Margaret Ross said the company had no comment.
A U.S. Embassy spokeswoman in Caracas did not return a call.
Venezuela accounted for about 12 percent of U.S. crude oil imports in
November, the latest figures available from the U.S. Energy
Department. The 1.23 million barrels a day from Venezuela makes that
country the U.S.'s fourth-biggest oil importer behind Canada, Saudi
Arabia and Mexico.
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.
___
--
If you disagree with the theories and dogmas of Marxism or Scientific Socialism
then you are a tool of Capitalist interests. If you disagree with the theories
or dogmas of Catastrophic Anthropogenic Global Warming then you are a tool of
Capitalistic interests. Notice a pattern here? -- Captain Compassion
The object of life is not to be on the side of the majority but to
escape finding oneself in the ranks of the insane. -- Marcus Aurelius
"...the whole world, including the United States, including all that
we have known and cared for, will sink into the abyss of a new Dark
Age, made more sinister, and perhaps more protracted, by the lights
of perverted science." -- Sir Winston Churchill
Joseph R. Darancette
daranc@NOSPAMcharter.net
