Venezuela threatens to stop US oil sales over Exxon
Tuesday, 12 February 2008
CARACAS, Feb 11 (Reuters): President Hugo Chavez yesterday threatened to stop sending oil to the United States unless it halted an "economic war" that he said included an Exxon Mobil lawsuit freezing $12 billion in Venezuelan assets.
The anti-American leader of a major crude exporter to the United States also warned that such US aggression could cause world oil prices to spike to $200 a barrel.
Oil prices rose this week in part because of the self-styled socialist revolutionary's dispute with the largest US company over compensation for Chavez's nationalisation last year of an Exxon Mobil Corp project.
The administration of President George W. Bush has distanced itself from the Exxon legal offensive, in which the oil company won international court orders freezing assets of the state oil company PDVSA.
"If you freeze us, if you really manage to freeze us, if you damage us, then we will hurt you. Do you know how? We are not going to send oil to the United States, Mr. Bush, Mr. Danger," Chavez said on his weekly TV show.
Chavez has frequently issued conditional threats to stop shipments to its biggest oil customer, but has maintained supplies despite clashing with Washington over everything from crude prices to free trade to democracy.
"Never again will they rob us-the Exxon Mobil bandits. They are imperial, American bandits, white-collared thieves. They turn governments corrupt, they oust governments. They supported the invasion of Iraq," he said.
Exxon retaliated for the seizure of a heavy crude upgrading project, winning the first big court battle over compensation in a wave of takeovers that Chavez says will help create a socialist state.
The anti-American leader of a major crude exporter to the United States also warned that such US aggression could cause world oil prices to spike to $200 a barrel.
Oil prices rose this week in part because of the self-styled socialist revolutionary's dispute with the largest US company over compensation for Chavez's nationalisation last year of an Exxon Mobil Corp project.
The administration of President George W. Bush has distanced itself from the Exxon legal offensive, in which the oil company won international court orders freezing assets of the state oil company PDVSA.
"If you freeze us, if you really manage to freeze us, if you damage us, then we will hurt you. Do you know how? We are not going to send oil to the United States, Mr. Bush, Mr. Danger," Chavez said on his weekly TV show.
Chavez has frequently issued conditional threats to stop shipments to its biggest oil customer, but has maintained supplies despite clashing with Washington over everything from crude prices to free trade to democracy.
"Never again will they rob us-the Exxon Mobil bandits. They are imperial, American bandits, white-collared thieves. They turn governments corrupt, they oust governments. They supported the invasion of Iraq," he said.
Exxon retaliated for the seizure of a heavy crude upgrading project, winning the first big court battle over compensation in a wave of takeovers that Chavez says will help create a socialist state.