Chavez vs ExxonMobil

[LTVibe]

Hopefully this is just another empty threat from this lunatic.

Chavez Latest Threats

Quote:
CARACAS, Venezuela -- 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 rulings 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.

 

[JustinH]

They can start with closing up all the citgo gas stations.

 

[crw]

Chavez installed price controls on food. The result? Food shortages. Chavez is a madman whose debunked economic policies will eventually cause a collapse. It's only a matter of time before he is gone. (Well, one can hope. I guess it didn't turn out well for Cuba.) Unfortunately the real loser is the Venezuelan people.

 

[LTVibe]

12:15pm AP update...

Oil Prices Jump on Chavez Threat

 

[buster]

Mobil 1 vs Chavez

 

[BarkerMan]

Chavez shouldn't pick a fight with someone bigger than him.

 

[Lyondellic]

Chavez can't afford to cut off oil sales to the USA. The Vens need a place to dump all of the heavy sour crude that they produce and there are only a few refineries that can process it. Anytime Chavez wants to beat on his chest he threatens to curtail oil sales. The reality is that he can not afford to do so if he wants to stay in power.

 

[hi-miler]

Soo, Mobil takes him out indirectly. Ask me if I mind?

 

[MGregoir]

I was just thinking could Citgo upgrade their refinery capacity, only use Venezuelan oil, take the full margin as they would be an integrated producer and then sell it from their stations at a cut price to put downward pressure on all of the other oil companies and artificially hold oil prices down, while still maintaining their cash flow?

Strange but intriguing.