11 February 2008

Venezuela Threatens Oil Cutoff Over Exxon Lawsuit

Well, it looks like we'll have to choose between the folks who poisoned Prince William Sound, and the average American driver, because we have a threat from Chavez to cut off oil shipments over Exxon lawsuit filed in London.

How a company based in the US files suit in the UK, over actions taken in Venezuela is beyond me.

FWIW, Venezuelan oil is not fungible. It's a "sour" crude, and refineries have to be set up to refine it, so this would be a hole in the world oil supply.

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