May 16 (Bloomberg) -- Oil prices would soar to $100 a barrel if Venezuela decided to cut sales to the U.S. amid worsening relations between the two countries, Venezuelan President Hugo Chavez said. Venezuela, South America's biggest oil producer, can sell crude that now goes to the U.S. to China, Europe and other nations, Chavez said in an interview with the U.K.'s Channel 4 television. The U.S. yesterday banned all arms sales to the South American country, saying it wasn't cooperating enough in the fight against terrorism. ``If we decided now to stop selling oil to the U.S., among other things, the price of oil would shoot up to $100 a barrel,'' said Chavez, who called the U.S. decision on weapons sales ``absolutely ridiculous.'' | That's a lot of CITGO stations you'd need to close, Hugo. Plus the Russkies are supplying all of your reliable weapons needs, right? Right???? |
A bit more at the link.