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Wednesday, August 15, 2007

Chavez Is Holding Oil Hostage

Venezuelan President Hugo Chavez said he will cut supplies to the United States if the U.S. government “attacks” his spot again.
Chavez said high oil prices were the sign of a “global crisis” in energy caused by voracious consumption that has vastly reduced available oil reserves. Chavez is well aware that the United States of plotted a bungled coup that ousted him for two days in 2002. This is of course the way the U.S. operates, just ask Aristide. Though Washington denies the accusations, it mostly does so because Hugo fronts oil sales to United States that account for 12-15 percent of U.S. imports.
“No one should think that we’re going to stop sending oil to the United States, no – unless they attack us again.” “If they attack us again like they did in April 2002…there will be no oil.”
Caribbean countries such as Jamaica and the Dominican Republic are offered soft financing terms and the possibility to pay their bills with products like bananas and nutmeg.