Chavez Says Attack Could Send Oil to $500
19 May 2008BloombergCARACAS, Venezuela — Venezuelan President Hugo 
Chavez said last week that crude oil would rise to “$400 or $500” per 
barrel in the event of a U.S. attack on his country, the biggest 
petroleum exporter in the Americas.

The reactivation of the U.S. Fourth Fleet in the Caribbean on July 1, 
as well as what he said is a possible U.S. base on the Guajira 
Peninsula, which is shared by Venezuela and Colombia, are both 
considered to be threats, Chavez said in a speech broadcast last night
from the military academy.

Chavez, who has long criticized the U.S. role in Latin America and 
warned that oil could rise to $200 a barrel in the case of an attack 
on Venezuela or Iran, said that given recent price increases in the 
crude market, his previous estimate was too low.

“Now, we’re at $120 and it’s continuing up,” he said. “If there’s a 
war against Venezuela, with the oil in this soil, it won’t depart from
the Venezuelans, it won’t go to anyone.”

The country is buying light, fast tanks and training citizens to 
defend the country against possible threats, he said.

In July, Chavez plans to meet with President Dmitry Medvedev in Moscow
to discuss more arms purchases, which may include long- and short-
range anti-aircraft defense systems.


Tagged with:

Comments are closed.

Looking for something?

Use the form below to search the site:

Still not finding what you're looking for? Drop a comment on a post or contact us so we can take care of it!