Time to dance. Chavez threatens to cut off oil to america if he loses in court
CARACAS, Venezuela (AP) - President Hugo Chavez on Sunday threatened to cut off oil sales to the United States if Exxon Mobil Corp. wins court judgments to seize his government's assets.
"If you end up freezing (Venezuelan assets) and it harms us, we're going to harm you," Chavez said. "Do you know how? We aren't going to send oil to the United States. Take note, Mr. Bush, Mr. Danger."
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.
"The outlaws of Exxon Mobil will never again rob us," Chavez said, saying the Irving, Texas-based oil major acts in concert with "the imperialist government of the United States" and is part of corporate "worldwide mafias."
Tell me again why we have a CIA?
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XOM is up $3 in the past 2 days-must be good news to investors-of course it took a dive since the beginning of the year-sorry, I own a bunch and always look at things like this in this light. Anyway Chavez is an idiot, oil is fungible-if he stops selling us his oil, he'll sell it somewhere else. And we'll buy it some where else.