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.
"If you end up freezing (Venezuelan assets) and it harms us, we're going to harm you," Chavez said during his weekly radio and television program, "Hello, President." "Do you know how? We aren't going to send oil to the United States. Take note, Mr. Bush, Mr. Danger."
I was going to write about Exxon's move to have $12 billion in Venezuelan assets frozen, but I didn't think it was much of a story at the time. However, with loud mouth Chavez now saying that he wants to cut us off from oil, the temptation is too great. :)
So, for those of you without the back story, here's a summary: Oil companies invest billions into Venezuela's natural oil resources. Chavez comes along and wants to alter the deal that was signed and threatens these same oil companies. These companies then use their legal right to make sure that they aren't screwed out of their investment. Now, Chavez is trying to claim that he won't send oil to the United States.
Chavez, I know you don't read this site, unless you are one of only a few dozen people from Venezuela that show up from time to time in my web logs. But if you are, please take my advice: Stop sending oil to America.
Yep, I don't want you to send another drop. I'm calling your bullshit bluff. The simple fact remains that you are trying to act like a bully and now you're not getting your way, so you're acting like a child. But please, stop sending us oil, raise the price, and watch a huge backlash from your citizens because the oil revenue isn't flowing in from our end.
Go ahead, I dare you. The simple fact is that you're grand standing for the cameras and you won't do it.
Continue with your ways, the Chevy Volt is nearing production and I won't need another drop of your oil and you can deal with the immense public backlash when they find that you've made promises you can't keep and the services that you've promised won't be coming. The Venezuelan people will throw you out themselves and you'll have no one to blame but you.
Travis
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