Chavez makes US oil export threat
I have two words for this inbred half-wit "Naval Blockade". Hugo your oil won't be able to go 'elsewhere'.
"Oil exports to the US could stop amid growing tensions between the two countries, Venezuelan President Hugo Chavez has said. He described recent US government actions as "aggressive" in a speech at a youth festival in Caracas. As a result, Venezuelan oil "instead of going to the United States, could go elsewhere," he said."
It is not particularly brilliant to threaten your largest trading partner, who happens to have the largest navy in the world, when your economy is dependent on shipping that commodity by sea.
Unfortunately the Cult of Crazies in Crawford are neutering the American military and if Chavez shuts the valve we won't have the will to do a thing about it.
Data Reference: Venezuela (07/05):
Petroleum industry (25% of GDP): Oil refining, petrochemicals.
Major markets (2004)--U.S. 55%, Colombia 14%, Mexico 6%, the Netherlands 4%, Ecuador 4.0%, Japan 3%, Brazil 2%.
Major suppliers (2004)--U.S. 33%, Colombia 11%, Brazil 8%, Mexico 5%, Germany 3.4%, Japan 3.2%, Italy 3%.
"The United States is Venezuela's most important trading partner, representing about half of both imports and exports. In turn, Venezuela is the United States' third-largest export market in Latin America, purchasing U.S. machinery, transportation equipment, agricultural commodities, and auto parts.
Venezuela's opening of its petroleum sector to foreign investment in 1996 created extensive trade and investment opportunities for U.S. companies. As a result, Venezuela is one of the top four suppliers of foreign oil to the United States."