tag:blogger.com,1999:blog-9864176.post114086980579295948..comments2023-12-01T16:56:04.415+11:00Comments on Peak Energy: Al-Qaida AttacksBig Gavhttp://www.blogger.com/profile/00682404837426502876noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-9864176.post-1140942990867931482006-02-26T19:36:00.000+11:002006-02-26T19:36:00.000+11:00"An external enemy, he may think, would join the c..."An external enemy, he may think, would join the country."<BR/><BR/>Well - he isn't the only "leader" on the planet to be playing that game - its probably easier to finds one who aren't at the moment.<BR/><BR/>As for the Citgo and Venezuelan supply issue, I figure as long as oil remains fungible who Venezuela "sells" its oil to is kind of academic - at the end of the day those who want oil will get as much as they can afford to pay for, so its largely just a propaganda play at this point.<BR/><BR/>In the advent of a post-peak, carefully controlled global oil market the rules will change of course...Big Gavhttps://www.blogger.com/profile/00682404837426502876noreply@blogger.comtag:blogger.com,1999:blog-9864176.post-1140934102452973062006-02-26T17:08:00.000+11:002006-02-26T17:08:00.000+11:00There is another potential oil crisis and it may b...There is another potential oil crisis and it may be coming from Venezuela.<BR/><BR/>Venezuela’s man in Washington, Bernardo Álvarez, just hinted that oil supplies to the US could be halted. This threat has become a theme of Venezuela’s diplomacy. <BR/><BR/>Is it possible? Can Venezuela cut oil supplies to the US? <BR/><BR/>Only if President Chavez is willing to take an economic shock. <BR/><BR/>During his congressional hearings, Thomas Shannon, US Undersecretary of State for Hemispheric Affairs, clearly articulated the dilemma : <BR/><BR/>"Venezuela in reality does not sell petroleum to the USA ... it sells it to itself." <BR/><BR/>Citgo, A Venezuelan oil company, buys Venezuelan oil to refine in US based Venezuela’s refineries. Then it sells the gas in Venezuelan Citgo gas stations. We are talking of roughly 1.4m barrels per day and close to 60% of Venezuela’s oil exports.<BR/><BR/>Chavez is a big gambler. He already survived a more difficult crisis, one that involved an internal enemy and a national strike. An external enemy, he may think, would join the country.Camilo Pinohttps://www.blogger.com/profile/00859611764923788799noreply@blogger.com