U.S. Assistant Secretary of State: U.S. 'Can Adjust' to No Venezuelan Oil

[TexasLawyer]

From Voice of America-- Venezuelan oil? who needs it?

U.S. Assistant Secretary of State: U.S. 'Can Adjust' to No Venezuelan Oil

PRESS RELEASE - Washington, D.C., February 4, 2005 - Acknowledging threats by Venezuela to reduce oil exports to the U.S., the U.S. Assistant Secretary of State for Western Hemisphere Affairs Roger Noriega today told the Voice of America (VOA) that Venezuelan President Chavez "has said some strange things recently about oil."

During the VOA Spanish Foro Interamericano TV program, Noriega cautioned that such an action may have unintended consequences. Despite the fact that the U.S. gets 14% of its oil from Venezuela, poor relations between the two countries may jeopardize this economic relationship. Noriega acknowledged that, "maybe in the future the distribution of Venezuela's oil in the U.S. will be reduced." He went on to point out the risk to Venezuela. "If there is a significant reduction in (the U.S.) oil supply, we can adjust. In a matter of weeks we can identify other sources of oil." The Assistant Secretary cautioned, "But for Venezuela, it could be maybe years to find another market."

<snip>

http://www.voanews.com/english/About/Noriega-4Feb2005.cfm

[0rganism]

1. "could be maybe years"???? WTF does that mean?

Fuck the neocon windbags and their mealymouthery. Venezuela will have plenty of success exporting as much oil as she can drill to China and the rest of Southeast Asia.

[mom cat]

20. More like 30 seconds, or whatever time it takes to dial a phone.

How arrogant of the US, how sadly familiar. Venezuela will have no problem finding customers. The only way the US is finding suppliers is bombing them to smithereens, propping up ugly dictatorships, or fomenting strife.

[Robbien]

2. The whole article is a piece of crap

Venezuela has stated over and over again it will honor its commitment to the US, but our propaganda ministers keep trying to stir the pot of hatred towards Venezuela by saying they are threatening to cut us off.

Just an excuse to continue our support of the Venezuela opposition.

Sure, right, the article says we can easily make up that 14% loss of oil. If it were so easy, why are we doing business with a country Bush/Rice hates so much?

[madrchsod]

3. ok they "own" the pamama canal

and they have signed agreements with venezuela...hmmmm..i don`t think they are worried at all about finding a market

[Robbien]

4. All the Citco gas stations distribute Venezuela gas here in the US

Citco is the only distributor of Venezuela gas and Citco station's only gas supply is Venezuela. By the way, Venezuela is the owner of Citco. Unless Venezuela sold off Citco, why would they want to stop supplying their own stations with gas?

The article is bunk.

[tkmorris]

5. I agree with you, but

I could swear I saw an article here at DU which said that Venezuela was considering doing just that, selling off it's Citgo Corp equipment.

[Robbien]

6. The articles are all from US/UK sources

If you read the articles in VHeadline or ZNet, Chavez stated he is not trying to sell Citco. With all the war talk coming out of Rice, I believe Chavez would be smart to start exploring his options on selling out. But any buyer would want a guarantee of a continued supply of crude so my previous opinion remains the same. Chavez wouldn't threaten to cut off the supply.

[puerco-bellies]

8. Venezuela is selling it's U.S. refineries, and has already signed a deal

With China regarding it's oil production. It will only take a different destination (China) for it's tankers to sell ALL the oil Venezuela can pump.

[jmcgowanjm]

11. 1st, it's Citgo, 2nd, Venezuela is not a 100% owner

Chavez said Jan. 28 that the U.S. is ``robbing'' the country of
tax revenue because of unfair contracts between Petroleos
de Venezuela and Citgo.

Chavez said Citgo's contracts gave the U.S. a discount on
oil prices. Energy and Oil Minister Rafael Ramirez made
similar comments in May 2004. Citgo's contracts
include discounts of as much as $4 a barrel, Ramirez
said.

Citgo, a 100-year-old company based in Tulsa, Oklahoma,
on Dec. 8 announced it would pay a $400 million dividend to
its parent company, according to a statement on the
Petroleos de Venezuela Web site.

IMHO, I think Chavez is saying Venezuela
will sell it's stake in Citgo.

http://www.bloomberg.com/apps/news?pid=10000086&sid=aP3vwKnY0rNU&refer=latin_america

[ConcernedCanuk]

7. The US has ALREADY "adjusted" to possible oil supply shortages

.
.
.

:wtf: they'all think Iraq is all about?

:shrug:

[Robbien]

9. I hear China has also come visiting Canada

taking a look around your oil fields as they did when they went to Venezuela.

Interesting.

[ConcernedCanuk]

10. China has also responded to our effort to increase beef trade with them

.
.
.

as well as our steel, lumber, etc that the US has been giving us grief over for some time . .

History may read that the United States USED to be our biggest trading parter, hmmm?

We're not sitting on our asses waiting to go broke while the US dicks around with our economy . .

and, if and when the US needs what we have marketed elsewhere because of what I perceive as vindictive curtailments on our products . .

I'll say feck 'em - they didn't want it, so we found markets elsewhere

too bad . .

so sad

(not)

[Redstone]

16. You Canadians aren't dumb, are you...

I seem to remember some years ago, when the US economy was in the tank and the Japanese were doing well (even though that was kind of illusory), Canada became a strong trading / investment partner with Japan.

Now you're building ties with China, which is a damn good hedge against the vindictive (you picked exactly the right word) policies of the US government.

Good on you. Since our government doesn't seem to understand the concept of treating a country that has been our good neighbor and loyal friend with the respect it deserves, you don't owe the US anything.

You're smart to shape your economy for independence from the US, since you can't trust the US government to keep its word or be cinsistent in its policies for mare than two days.

Redstone

[ConcernedCanuk]

19. ty for the compliment, BUT

.
.
.

SOME of us Canuks do go beyond "dumb", including our leaders . .

Pearson allowed US nukes in Canada, and I suspect some remain . .

Other previous governments committed certain amounts of our Oil, Hydro-Electricity, and Water resources to the US some time back. I am not sure of the duration of that agreement, whether it is renewable in the near future, etc. . .

Lawdy help us if'n we do NOT renew or update those commitments

we is a lot closer supply of oil than Iraq.....

and Fort Drum, only 30 miles from Canada, and very close to our Capital, Ottawa, has showed a marked increase in activity and weaponry since we refused to help Bush destroy Iraq . .

hmmmm . . . :freak:

[bemildred]

12. The US can "adjust" to not having this blowhard on the payroll too. nt

[jmcgowanjm]

13. By every measure: This is more than 'rather unlikely,' it is impossible.

Cognitive dissonance runs rampant.

"I don't know how high oil prices will rise," he said. "But I think
it is inevitable that at some point oil prices will have to rise
to however high it takes to stop growth in the world
economy. The only way the market can balance itself is to
halt growth, because there is not going to be more
supply."

"Our overall supply is deteriorating. We will have to have a
mild winter, or the market will go nuts. We are clearly in
a relatively high-risk situation."

"Civilization as we know it will come to an end sometime in
this century," his book concludes, "unless we can find a way
to live without fossil fuels."

Society, meanwhile, is not ready for what is about to happen.

http://www.cleveland.com/search/index.ssf?/base/business/1093771866210180.xml?bxbiz

[Mika]

14. Higher gas prices mean more profits

Look at the record earnings by big oil. Less supply = more profit.


Mission accomplished.

[jmcgowanjm]

18. only up to a point-oil is inelastic. There can be no less supply

in a "growing" economy.

See Shell's latest report and they're solution.

[smoogatz]

15. Venezuala just signed a deal w/ China...

Last Update: Sunday, January 30, 2005. 1:06pm

China boosts role in Venezuela's oil, gas sector


China has signed energy accords with Venezuela that aim to make the Asian economic giant a major player in the oil and gas industry of the world's number five crude exporter.

The 19 cooperation agreements signed in Caracas during a visit by Chinese Vice President Zeng Qinghong included plans for multi-million dollar Chinese investments in Venezuelan oil and gas fields.

They also foresaw Chinese financing and technical support for telecommunications, mining and farming.

Venezuela ships more than half its daily oil output to the United States in a decades-old energy relationship.

But left-wing Venezuelan President Hugo Chavez, a fierce critic of Washington, has made clear he wants to diversify his country's overseas energy ties to reduce its economic dependence on the American market.

"China is a world power ... She doesn't come here with imperialist airs, she comes here like a sister. God bless China," he told Mr Zeng at the signing ceremony.

Despite Chavez's anti-US rhetoric, many experts say the United States remains Venezuela's most natural energy market because of its proximity and its refineries geared to process Venezuelan crude.

Accumulated American investment in Venezuela's energy sector is in the billions of dollars.

- Reuters

http://www.abc.net.au/news/newsitems/200501/s1291927.htm

[jmcgowanjm]

17. Here's the Deal-The US is 6%, using 25%, borrowing 75%

And we can make up the loss of Venezuela. Right.

Notice you can't access that VOA article anymore?
Notice how many times bush43 mentioned the word
"oil" in his SOTU?

A little bio on Noriega-
Roger Noriega, Ambassador to the Organization of
American States (OAS), is another Cuban American who
served as a senior aide to Senator Jesse Helms, former chair
of the Foreign Relations Committee. Noriega helped
promote Helms' xenophobic, anticommunist and anti-
Castro agenda in Congress. He is a leading proponent of
the US supported war in Colombia.

Google Roger Noriega Iran Contra for more.

Their actual forecasts, it goes without saying, are always
wrong but -- miraculously -- they keep their
jobs!

We're holding on by our teeth.
Here's an evaluation of what happens
when we attack Iran.
Which has the rough equivalent output of Venezuela.
sub the word "Venezuela" for "Iran"
in this article.

Even with that near-ultimate production number for OPEC,
world oil stocks are being worn down, if
slowly.

Taking Iran out will create a big hole in this fragile
equation. Stocks will be drawn down in a way we have
never seen -- even during the 1979-80 Iran crisis - and
prices can only double, and then go on increasing as long
as Iran remains out of the equation.

http://www.vheadline.com/readnews.asp?id=25232