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Chavez Threatens to Halt Oil Sales to US

Published:

Chavez Threatens to Halt Oil Sales to US

Published: 2/10/08, 5:07 PM EDT
By SANDRA SIERRA
     

CARACAS, Venezuela (AP) - 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.

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.



     Copyright 2008 Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
Entry #111

Comments

1.
TenajComment by Tenaj - February 10, 2008, 5:24 pm
What's up with this ya'll?
2.
JAP69Comment by JAP69 - February 10, 2008, 7:43 pm
If the U.S. does not start drilling for oil in its own territory the world has us by the butt. Which it already has.
$10.00 a gallon for gas.
Thank the enviromenalist for this one.
3.
jarasanComment by jarasan - February 10, 2008, 8:38 pm
Go EXXON! I say we cut off his cocaine supply.
4.
inittowinComment by inittowin - February 10, 2008, 9:21 pm
Read about Ciitgo gas & Chavez.

http://www.citgoboycott.org/
5.
Rick GComment by Rick G - February 11, 2008, 8:23 am
JAP69 is right. We're sitting on our own oil in Alaska and yet we're buying oil from Chavez. We're facing world-wide grain shortages and yet we're putting it in our gas tanks in the form of bio-fuels.

Is it really that difficult to separate the hydrogen atom from two oxygen atoms to give us hydrogen for an energy source? Hydrogen provides the energy for our sun and the sun is the single largest source of energy in our solar system. Our planet is covered by 75% water from which we can extract hydrogen. What's holding us back?

6.
jarasanComment by jarasan - February 11, 2008, 9:04 am
Here you go Rick

http://www.it.umn.edu/news/inventing/2004_Summer/harvestinghydrogen.html
7.
Comment by pacattack05 - February 11, 2008, 3:15 pm
Rick, a few years ago I saw a show about what you're talking about and it is much more difficult than you think. This chamber was as large as house or bigger. Before the explosion everyone had to go into a special room for protection. Once the explosion took place, it took about 3 or 4 days for workers to go inside the chamber and wipe down the interior spotless.

That was just one explosion, like one explosion of a combustuion in a piston driving it down. In order for them to continually make the combustion effective, like the constant combusting of the chamber inside of an car engine which has many explosions after the spark, making the pistons go back down, completing one cycle, and more cycles thereafter, they first have to find a way to bypass the 3 day cleaning process. It was a very interesting show to say the least. Where getting there, but we have a long way to go.

They said that when they do finally figure it all out, you could run more than 500 miles on a gallon of water.
8.
Comment by pacattack05 - February 11, 2008, 3:30 pm
Rick, I found a short 6 minute clip on what I was talkning about. Fusion reactor. They don't talk about the cleaning process. Either this is a new version of what I saw years ago, or the cleaning part was somewhere else in the show of this clip.

http://www.youtube.com/watch?v=Gyg0ky_VMzo
9.
Comment by pacattack05 - February 11, 2008, 3:56 pm
This has to do more with a power plant than an engine in your car, but hopefully just like all inventions, it'll be compacted to fit under your hood. Unfortunately by then, humans will have a nuclear exchange and no one will be here but roaches.
10.
TenajComment by Tenaj - February 11, 2008, 6:50 pm
Unfortunately by then, humans will have a nuclear exchange and no one will be here but roaches.

LOL
11.
Rick GComment by Rick G - February 11, 2008, 7:38 pm
Jarasan and Pac, thanks for the links.
12.
justxploringComment by justxploring - February 11, 2008, 8:14 pm
Tenaj, your last comment reminds me of a poster I had in college. "War does not determine who is right, only who is left."
13.
TenajComment by Tenaj - February 11, 2008, 8:58 pm
Pac said that. I was laughing at what he said.

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