Attack Could Send Oil to $500

Cid_Yama · Posted: Sun May 18, 2008 9:31 pm Post subject: Attack Could Send Oil to $500

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.

"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.

link

Colombian troops intercepted in Venezuela

The Venezuelan government on Saturday accused 60 Colombian troops of illegally entering the Venezuelan territory and called "the incursion" a provocation by the Colombian government seeking to destabilize the region".

Venezuelan Foreign Minister Nicolas Maduro said the Colombian soldiers had been intercepted Friday in Venezuela's western Apure state, about 800 meters from the two countries' shared border.
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Time to recognize there are only two classes of people; those that stole the wealth of America and those that got fleeced.

Mquinon3 · Tar Sands Joined: Apr 03, 2008 Posts: 38

Cid, I enjoy your posts because they keep me up to date with conflict issues occurring globally, but I definately notice a trend with your posts. Keep'em coming.

americandream

Cid has a good handle on the geo-politics of this world..and he approaches our resource crises from a global perspective. Shame I can't say the same for many others on here with their narrow nationalisms/regionalisms and crazy conspiracy theories.

Yeah Cid, keep the news coming. It's very informative.
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Bugger me, I hear oil's runnin out mate!

mos6507

eastbay

Yo Cid.... keep the news flowing. I always hit on your links and am rarely disappointed. Smile

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Everything is Impermanent. Shakyamuni Buddha

mos6507

americandream

Tyler_JC

And this will push up oil prices by a buck a barrel tomorrow, increasing Venezuela's profits by a few million dollars a day.

If I could give a speech and increase my profits by millions of dollars...I'd be giving speeches every day!

Just like Mr. Chavez is doing. Smile

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"www.peakoil.com is the Myspace of the Apocalypse."

roccman