Truemors
CARACAS, Venezuela (AP) -- Venezuela's state oil company said Tuesday that it has stopped selling crude to Exxon Mobil Corp. in response to the U.S. oil company's drive to use the courts to seize billions of dollars in Venezuelan assets. Exxon Mobil is locked in a dispute over the nationalization of its oil ventures in Venezuela that has led President Hugo Chavez to threaten to cut off all Venezuelan oil supplies to the United States. Venezuela is the United States' fourth largest oil supplier.
Tuesday's announcement by state-run Petroleos de Venezuela SA, or PDVSA, was limited to Exxon Mobil, which PDVSA accused of "judicial-economic harassment" for its efforts in U.S. and European courts.
So, I guess next, The White House will say they found evidence of WMD's in Chavez's closet, and we will be at war with Venezuela. IDIOTS!
Sapphira
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at 05:39 on February 15th, 2008
I have read recently that many newspapers in south america are not particular happy about how Chavez is handling the relationsship with the likes of Exxon, but at the same time there's an eagerness to break free of the influence of the big western corporations that (according to many) have been leeching off the natural resources in many of the south american countries for many years.
I think they feel like its time to take matters in their own hands and brings back the income and nationalise the natural resources industry and one way is to create joint venture business models in which companies still will be able to make money (except of course Exxon, unlike Shell which is still doing business in Venezuela)
Its a trend not only happening in Venezuela but in other countries in the region..
One could say the transition though could have been handled in a better way. What do you think?