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Surely A Large Human
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Look what this crazy muuuhfukkah done went 'n did now.

Exxon Mobil cut off from Venezuela's oil - CNN.com

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.

President Hugo Chavez has said Exxon Mobil is no longer welcome to do business in Venezuela.

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 currently 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.

PDVSA said it "has paralyzed sales of crude to Exxon Mobil" and suspended commercial relations with the Irving, Texas-based company.

"The legal actions carried out by the U.S. transnational are unnecessary ... and hostile," PDVSA said in the statement.

It said it will honor any existing contracts it has with Exxon Mobil for joint investments abroad, but reserved the right to terminate them if permitted by the terms of the contracts.

The impact of the decision on Exxon Mobil, the world's biggest publicly traded oil company, was not immediately clear. Both Chavez and Oil Minister Rafael Ramirez previously said the company is no longer welcome to do business in Venezuela.

Exxon Mobil spokeswoman Margaret Ross declined to comment on the move by Venezuela but said that "it is our long-standing practice to take appropriate steps to meet our customers' needs."

Exxon Mobil is challenging the Chavez government's nationalization of one of four heavy oil projects in the Orinoco River basin, one of the world's richest oil deposits.

A British court issued an injunction last month temporarily freezing up to $12 billion of PDVSA's assets.

Other oil companies including Chevron Corp., France's Total, Britain's BP PLC and Norway's StatoilHydro ASA have negotiated deals with Venezuela to continue as minority partners in projects. ConocoPhillips and Exxon Mobil balked at the government's tougher terms and have been in compensation talks with PDVSA.

Earlier Tuesday at an energy conference in Houston, Exxon Mobil senior vice president Mark Albers declined comment on any court proceedings with Venezuela, though he said the company is eager to negotiate fair compensation for its assets. Exxon Mobil is taking the dispute to international arbitration, to which Venezuela has agreed.

Venezuela's announcement came after Ramirez, the oil minister and PDVSA president, reiterated in a newspaper interview Tuesday that Venezuela is ready to cut off oil supplies to the United States if pressed into an "economic war."

"If they want this conflict to escalate, it's going to escalate. We have a way to make this conflict escalate," Ramirez was quoted as saying.

The White House on Tuesday declined to comment on Venezuela's threat. "When there's a litigation that's ongoing, different parties will say anything to try to win over on an argument," said White House press secretary Dana Perino.

Meanwhile, Venezuelan state television has begun airing short anti-Exxon segments, with a message appearing on the screen in red text reading: "Exxon Mobil turns oil into blood."

The U.S. remains the No. 1 buyer of Venezuelan oil, and Chavez relies largely on U.S. oil money to stimulate his economy and bankroll social programs that have traditionally boosted his popularity.

Some analysts say it would make little sense for Chavez to follow through on his threats because Venezuela owns refineries in the United States that are customized to handle the South American country's heavy crude.

Ramirez said Venezuela is selling the U.S. a daily average of 1.5 million barrels of crude and other products derived from oil.​

NEVER trust a world leader who wears a beret, a goofy-ass hat ALL THE TIME, or a dress military uniform. Never.




 

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A lesson I learned a long time ago. Never play chicken with a crazy man. You WILL lose.



At some point I really wish we, as a country would try the thinking approach to stuff. Seems to me we would have many fewer messes to deal with in the long run.
 

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If Chavez cuts of oil supplies to the US, this whole country is going to go nuts.
 

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A lesson I learned a long time ago. Never play chicken with a crazy man. You WILL lose.

At some point I really wish we, as a country would try the thinking approach to stuff. Seems to me we would have many fewer messes to deal with in the long run.
Surely you're not suggesting that the government step in and "placate" another of our self-proclaimed enemies, are you? I'm sure that Exxon-Mobil has many people thinking about this. Oh, I forget. You want a government solution to this. Hillary has already proposed taxing all Exxon-Mobil profits. The company then has to fight Hugo and Hillary at once.

Chavez has played hardball and doesn't seem to like it when he's on the receiving end. We're not going to nationalize his assets here, but I loudly applaud Exxon-Mobil's actions to attach them with court action, here and abroad. Since oil is a fungible commodity, it will be nearly impossible for him to prohibit our purchasing oil on the open market, whether it came from Venzuela or somewhere else. He has to sell it to someone; we'll just buy it from them.
 

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You obviously don't understand the oil market. It doesn't go on a shelf somewhere like your fucking Cheerios. Chavez will sell it to the Chinese, or he and the Iranians will both embargo oil at the same time, sending the price of oil into the stratosphere, where, yeah, we will get to purchase it on the open market, lucky us. Exxon is playing games with our national security.
 

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You obviously don't understand the oil market. It doesn't go on a shelf somewhere like your fucking Cheerios. Chavez will sell it to the Chinese, or he and the Iranians will both embargo oil at the same time, sending the price of oil into the stratosphere, where, yeah, we will get to purchase it on the open market, lucky us. Exxon is playing games with our national security.
And your solution is....what? Start some little oil companies so we don't have to support BIG OIL?

No, the Dumocrats are playing with our national security--let's open ANWAR and off coast drilling. We're stuck needing oil for the foreseeable future.
 

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Surely you're not suggesting that the government step in and "placate" another of our self-proclaimed enemies, are you? I'm sure that Exxon-Mobil has many people thinking about this. Oh, I forget. You want a government solution to this. Hillary has already proposed taxing all Exxon-Mobil profits. The company then has to fight Hugo and Hillary at once.

Chavez has played hardball and doesn't seem to like it when he's on the receiving end. We're not going to nationalize his assets here, but I loudly applaud Exxon-Mobil's actions to attach them with court action, here and abroad. Since oil is a fungible commodity, it will be nearly impossible for him to prohibit our purchasing oil on the open market, whether it came from Venzuela or somewhere else. He has to sell it to someone; we'll just buy it from them.
Well, you certainly read a lot into so few of my words. Now if you only understood what you were talking about we might could discuss it.
 

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Always Remembered RIP
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Chavez el estupido, tu vida NO VALE NADA, ahora. (Uh oh.)

Sr Chavez hasn't read his history books, has he?

Central and South American "Presidents" and dictators have been overthrown, or assassiinated for FAR less than this, and their governments overturned.

Latin American history is replete with similar examples to choose from.

(Loosely paraphrasing),
"Those who do not learn the lessons of history are doomed to repeat them".

Would not surprise me in the least if in a couple of months that the President (himself a Texas Oil Man, in case you forgot) gravely announces, with deep regret, the untimely and unfortunate passing of Hugo Chavez.

It could really happen like that!!!
 

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Sr Chavez hasn't read his history books, has he?

Central and South American "Presidents" and dictators have been overthrown, or assassiinated for FAR less than this, and their governments overturned.

Latin American history is replete with similar examples to choose from.

(Loosely paraphrasing),
"Those who do not learn the lessons of history are doomed to repeat them".

Would not surprise me in the least if in a couple of months that the President (himself a Texas Oil Man, in case you forgot) gravely announces, with deep regret, the untimely and unfortunate passing of Hugo Chavez.

It could really happen like that!!!
Depletion of revenues into the country are actually the best defense we have against Chavez. As you say, at some point his people will turn. But the violence is likely to be as short term damaging as any Chavez embargo.

Funny part is, Chavez is still very much interested in the US market.

This is from last year when Jono and I were at the Rolex24
 

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Venezuela's State Oil Company Halts Oil Sales to Exxon Mobil

Venezuela's State Oil Company Halts Oil Sales to Exxon Mobil

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.

PDVSA said it "has paralyzed sales of crude to Exxon Mobil" and suspended commercial relations with the Irving, Texas-based company.

"The legal actions carried out by the U.S. transnational are unnecessary ... and hostile," PDVSA said in the statement. It said it will honor any existing contracts it has with Exxon Mobil for joint investments abroad, but reserved the right to terminate them if permitted by the terms of the contracts.

It was unclear how much oil PDVSA supplies to Exxon Mobil, the world's biggest publicly traded oil company. Both Chavez and Oil Minister Rafael Ramirez previously said the company is no longer welcome to do business in Venezuela.

Venezuela's decision leaves up in the air the situation of a refinery in Chalmette, La. -- a joint venture supplied by Venezuelan oil in which PDVSA and Exxon Mobil are equal partners.

Exxon Mobil spokeswoman Margaret Ross declined to comment on the move by Venezuela but added that "it is our long-standing practice to take appropriate steps to meet our customers' needs."

Exxon Mobil is challenging the Chavez government's nationalization of one of four heavy oil projects in the Orinoco River basin, one of the world's richest oil deposits.

A British court issued an injunction last month temporarily freezing up to $12 billion of PDVSA's assets. Exxon Mobil also has secured an "order of attachment" from U.S. District Court in Manhattan on about $300 million in cash held by PDVSA. A hearing to confirm the order is scheduled for Wednesday.

Other oil companies including Chevron Corp., France's Total, Britain's BP PLC and Norway's StatoilHydro ASA have negotiated deals with Venezuela to continue as minority partners in the nationalized projects. ConocoPhillips and Exxon Mobil balked at the government's tougher terms and have been in compensation talks with PDVSA.

Earlier Tuesday at an energy conference in Houston, Exxon Mobil senior vice president Mark Albers declined comment on any court proceedings with Venezuela, though he said the company is eager to negotiate fair compensation for its assets.

Exxon Mobil is taking the dispute to international arbitration, to which Venezuela has agreed. Its legal actions essentially seek to corral Venezuelan assets ahead of any decision by the arbitration panel.

Venezuela's announcement came after Ramirez, the oil minister and PDVSA president, reiterated in a newspaper interview Tuesday that Venezuela is ready to cut off oil supplies to the United States if pressed into an "economic war."

"If they want this conflict to escalate, it's going to escalate. We have a way to make this conflict escalate," Ramirez was quoted as saying.

The White House on Tuesday declined to comment on Venezuela's threat. "When there's a litigation that's ongoing, different parties will say anything to try to win over on an argument," said White House press secretary Dana Perino.

Meanwhile, Venezuelan state television has begun airing short anti-Exxon segments, with a message appearing on the screen in red text reading: "Exxon Mobil turns oil into blood."

The U.S. remains the No. 1 buyer of Venezuelan oil, and Chavez relies largely on U.S. oil money to stimulate his economy and bankroll social programs that have traditionally boosted his popularity.

Some analysts say it would make little sense for Chavez to follow through on his broader threats to cut off oil sales to the U.S. because Venezuela owns refineries in the United States that are customized to handle the South American country's heavy crude.

Ramirez said Venezuela is selling the U.S. a daily average of 1.5 million barrels of crude and other products derived from oil.

Venezuela Halts Oil Sales to Exxon Mobil: Financial News - Yahoo! Finance
 

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You obviously don't understand the oil market. It doesn't go on a shelf somewhere like your fucking Cheerios. Chavez will sell it to the Chinese, or he and the Iranians will both embargo oil at the same time, sending the price of oil into the stratosphere, where, yeah, we will get to purchase it on the open market, lucky us. Exxon is playing games with our national security.

So exactly how does Exxon recoup their losses? They are only doing what they think is right and what they are legally entitled to do.
 

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Surely A Large Human
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Discussion Starter #15
You obviously don't understand the oil market. It doesn't go on a shelf somewhere like your fucking Cheerios. Chavez will sell it to the Chinese, or he and the Iranians will both embargo oil at the same time, sending the price of oil into the stratosphere, where, yeah, we will get to purchase it on the open market, lucky us. Exxon is playing games with our national security.
What??? How do you get from a dispute between Venezuela and Exxon to threats on our national security?
 

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Well, you certainly read a lot into so few of my words. Now if you only understood what you were talking about we might could discuss it.
I'm sure you'll tell us, that you do!:eek:
 

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So exactly how does Exxon recoup their losses? They are only doing what they think is right and what they are legally entitled to do.
I'm sure, if Exxon Mobil wants to, they can replace that lost oil in about 60 days. They have enough capped off oil wells to not even worry about the loss. The only thing they're pissed off about is the fact they spent billions helping Venezuela get that shitty tar based oil and refine it for use. I'd want the bastard's blood, too. Unappreciative prick.
 

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You are utterly delusional.
 

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It was fun while it lasted
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You are utterly delusional.
You live in a state covered in capped off wells. Surely you're not so ignorant as to not know what's going on in your own stomping grounds. My friend who lives outside of Dallas has a well that is one of 2000 Exxon drilled and capped 2 years ago.
 

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You live in a state covered in capped off wells. Surely you're not so ignorant as to not know what's going on in your own stomping grounds. My friend who lives outside of Dallas has a well that is one of 2000 Exxon drilled and capped 2 years ago.
He once said that he works for a Haliburton company so he's probably hip to all of the raging conspiracies perpetrated by his pal, Dick Cheney.

B
 
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