Monday, August 15, 2005

Supply worries continue to plague America

http://www.forbes.com/markets/feeds/afx/2005/08/15/afx2181137.html

AFX News Limited
Chavez threatens to cut off oil exports to US
08.15.2005, 12:58 PM

CARACAS (AFX) - Venezuelan President Hugo Chavez has threatened to cut off oil exports to the United States if Washington does not stop the 'aggressions' against his leftist government, Agence France-Presse reported.

'We do not want to break relations with the US government,' Chavez said Sunday. 'It is not in our plans, but if the aggressions continue to increase ... this could put at risk diplomatic relations between Venezuela and the United States.'

Washington's attacks could provoke 'something more serious: These two daily boats full of Venezuelan oil could head another way instead of going to the United States,' said Chavez, whose country is the fourth largest provider of oil to the United States.

'The US market is not indispensable to us,' Chavez said before thousands of young people waving Latin American countries' flags in a Caracas arena during a youth festival.

Chavez, who has called US President George W. Bush a 'jerk' and 'Mr. Danger,' also joked that he may give the US leader a scare at the Summit of the Americas in Argentina in November.

'I have something in mind,' Chavez said. 'I will walk to him very quietly and say 'boo.''

The Venezuelan leader held Sunday an 'anti-imperialist tribunal' to 'judge' the US government.

The former paratrooper has accused Bush of plotting to have him assassinated and of being behind a coup that toppled him for nearly 48 hours in April 2002.

On Friday, Vice President Jose Vicente Rangel said Venezuela had withdrawn diplomatic immunity for US anti-narcotics agents after the United States withdrew visas for Venezuelan officials in Washington.

The Venezuelan government also announced last week that it had cut anti-drug cooperation with the United States, accusing the US Drug Enforcement Administration of breaking local drug laws.

The United States rejected the charges and accused Caracas of flagging cooperation in the fight against narcotics trafficking.

The United States has accused Venezuela of actively funding efforts to destabilize its Latin American neighbors and allowing weapons to cross into Colombia, whose government is battling a leftist insurgency.

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