Saturday, February 18, 2006

Chavez threatens - the US or Venezuela?

Via EFE News Service, Chavez is threatening to stop oil exports to the US. However, I am wondering who this threat would harm more, the United States or Venezuela itself.

75% of Venezuela's oil exports are destined to the US market. 75% of oil sold at FULL price, no bartering involved, no preferential terms, sold at MARKET PRICE and MARKET CONDITIONS. That's 75% of the main source of economic resources for the Venezuelan economy.

United States imports around 70% of its oil consumption (67% at the end of 2005), out of which Venezuela (ranked as the 5th import country early 2006), accounts for about 11% (at the end of 2005).

Now, let's do the math, 75% vs. 11%? An 11% that could easily be substituted with reserves, or by increasing the imports from another of the 15 other importing countries? Judging by these pictures, I'd say Stooge Chavez needs it more as he is way off in accomplishing his Bolivarian Revolution.

I say, Stooge Chavez, take your oil and shove it!!!

Previous Posts with Related Links:
Stooge Chavez shows his true colors
Something Suspicious

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