CARACAS, Venezuela"” President Hugo Chavez on Sunday threatened to cut off oil sales to the United States if Exxon Mobil Corp. wins court judgments to seize billions of dollars in Venezuelan assets.[/b]
"If you end up freezing (Venezuelan assets) and it harms us, we're going to harm you," Chavez said, directing his words to U.S. President George W. Bush. "Do you know how? We aren't going to send oil to the United States. Take note, Mr. Bush, Mr. Danger."
"The outlaws of Exxon Mobil will never again rob us," Chavez said, saying the Irving, Texas-based oil major acts in concert with Washington and is part of corporate "worldwide mafias."
Chavez is a moron, while Venezuela is our fifth largest supplier of petroleum they aren't selling it to us at below market rates, we could buy oil on the open market just as easily. All he's trying to do is look tough by threatening us, it's not smart to bite the hand that feeds you.
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Kevin Haendiges
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Just like castro found out in the 60's Chavez will find out today. You can talk a good game, rally the people around you with promises, but when it comes time to deliver, you'll come up short. It sure sounded good to nationalize the oil field industry. The problem they are having, one paying for the investment. Infact they aren't paying for the investment and Exxon seem to be the only oil company willing to go after them in court. Exxon will win this one too. You don't freeze assets unless there is a good chance of winning. Second problem Chavez is finding out, they don't have the skill set to run these sort of operations. Two of the companies short changed are banking on Chavez opening up new partnerships and therefore have choosen not to challenge their payment. In my opinion this is very stupid on their part. They are banking on the future that includes Chavez. I won't bet on that one. Castro stayed in power because of the USSR. Chavez doesn't have the luxury and time is running out. As soon as his intentions were anouced. All investment stopped into his field and that ment the clock started ticking. His oil fields will be decreasing and his hold on power will end sooner then he thinks.
Please Chavez, follow through on your threats. Cut off our oil. I dare you but I know you don't have the balls to do it.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
If I were an oil company, I'd sabotage all of my equipment in a country if government decided to confiscate I mean nationalize it. Let the venezualans pay to put out iburning oil wells.
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Location: On an Island in the west coast of New England
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RE: Chavez Calls Exxon Mobil 'Outlaws'
It concerns me and I wonder when Opec will start the same rhetoric. We think just because we will pay the going rate there will be oil available. China and India have plenty of money and a growing need for oil. I understand much of our domestic oil is being sold on the open market abroad since it is worth more money than what we pay here. Oil is fundamental to our economic and military security. All our production should stay right here unless we make more than we can use which doesn't happen. Oil is the most important commodity out there and our future depends on the supply.
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Too busy with fishing to spend much time here.
It concerns me and I wonder when Opec will start the same rhetoric. We think just because we will pay the going rate there will be oil available. China and India have plenty of money and a growing need for oil. I understand much of our domestic oil is being sold on the open market abroad since it is worth more money than what we pay here. Oil is fundamental to our economic and military security. All our production should stay right here unless we make more than we can use which doesn't happen. Oil is the most important commodity out there and our future depends on the supply.
CI, there is a world market. That's why I've said, : "Cahvez cut us off." Where is he going to sell his oil to that needs it? There is no oil shortage. In fact he sells it to us because we are the highest bidder. We are the closest country that has the need he can supply. Should he choose to send it somewhere else it will cost him money. Will it cost us some money? I'm not sure. Possibly 1 cent a gallon. There might just be a company out there that lost the contract because they were 1 cent higher. If he sells it to someone else that means the suplier who had been suppling their oil will loose out. Where are they going to?
Those who are for closing the borders need to wise up and see the benifit nad the negative. The negative is far worst and that's our direction.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
CI, there is a world market. That's why I've said, : "Cahvez cut us off." Where is he going to sell his oil to that needs it? There is no oil shortage. In fact he sells it to us because we are the highest bidder. We are the closest country that has the need he can supply. Should he choose to send it somewhere else it will cost him money. Will it cost us some money? I'm not sure. Possibly 1 cent a gallon. There might just be a company out there that lost the contract because they were 1 cent higher. If he sells it to someone else that means the suplier who had been suppling their oil will loose out. Where are they going to?
Those who are for closing the borders need to wise up and see the benifit nad the negative. The negative is far worst and that's our direction.
I don't think it would be wise to tempt fate and stretch supplies any thinner than they are. Chavez is pulling a stunt to destabilize markets and bump the price of oil up. He would be a real pendejo to hurt his bottom line by enacting an oil embargo. He's a wealthy man thanksto our oil consumption. Let's justlet things quiet down and we can keep trying to undermine his support in Venezuela and around the world.
Location: On an Island in the west coast of New England
Posts: 13,133
RE: Chavez Calls Exxon Mobil 'Outlaws'
If he cuts oil sales to the US I wonder what will happen to the tens of thousands of people who own/ run Chevron stations. I understand what you are saying FM but any reduction in our supply will boost prices down the line. To replace the lost oil will require us to spend more to get it. We aren't buying it there because it is expensive. I understand world markets but from what I gather China has a need for more than they are buying now and they have plenty of money.
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Too busy with fishing to spend much time here.
If he cuts oil sales to the US I wonder what will happen to the tens of thousands of people who own/ run Chevron stations. I understand what you are saying FM but any reduction in our supply will boost prices down the line. To replace the lost oil will require us to spend more to get it. We aren't buying it there because it is expensive. I understand world markets but from what I gather China has a need for more than they are buying now and they have plenty of money.
Well I can only go by what the market is reporting. There is no shortage of oil/gas on the market. In order for Chavez to convince someone else they need to switch their supplier and go with him, he either must have better product or cheaper oil. Once the switch is made, the supplier who lossed out needs to find a market for their oil. I dealers would be very interesting. I suspect quite a few are financed through Citgo. I'm sure there is some kind of agreement but if he stops shipment, they must have an out clause.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Chavez Calls Exxon Mobil 'Outlaws'
