Tuesday, August 16, 2005

I guess oil is a fungible commodity

Venezuela ... says US market not vital
'We do not want to sever links with the US government, but if the attacks keep increasing, as they recently did, this will put at risk the relations between Venezuela and the United States,' Chavez said in a speech yesterday.

Chavez added: 'The two oil tankers that ship oil everyday to the United States might go somewhere else.'

I don't know much about Chavez, but I think someone should tell him that waving a red flag in front of an enraged bull is never a good idea.


At 7:57 PM, August 19, 2005, Anonymous Anonymous said...

Screw him. He's an idiot Socialist who doesnt realize that selling to country X means lower imports from another country, say Nigeria, means we just buy from them.

He needs customers more than we need his oil.

At 11:30 PM, August 19, 2005, Blogger monkeygrinder said...

Indeed. You make a good point, and I think we should stop trying to run coups down there, given that we can buy oil from Nigeria. (Probably in unlimited supplies, from the famed Nigerian offshore oil shale deposits).

At 10:17 AM, August 20, 2005, Blogger mh497 said...

Tankers get booked a ways out and the trip to China is a long one, I believe he'd find a lot of his oil building up at his terminals if he tried this between now and 2007.

Anyway, he probably won't like the insurance bill covering the Asian pirates.

At 6:52 PM, August 21, 2005, Blogger monkeygrinder said...

Good point. And of course, after 2007, there will be more and more empty tankers plying the seas. So maybe Chavez is crazy like a fox.

At 8:53 AM, February 12, 2008, Anonymous Luigi said...

"He needs customers more than we need his oil."

This is probably the stupidest comment I have read all year (don't worry pat, the year is still new)

Since the US is one of the largest importers of oil in the world, Venezuela cutting off our supply will not be good. We import about 8-10% of our oil from Venezuela. That is a huge amount and will be quickly reflected at the pump. Also, we can't just keep saying screw you to countries we don't like because if that keeps happening our suppliers will find another customer. India, China, Japan, Europe would probably appreciate cheaper oil. Also, why do you suppose we didn't say "screw you" to Saudi Arabia after 15 of their citizens crashed airplanes into the World Trade Center? Maybe because we can't say "screw you" to them? Ever think about that?


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