US Energy chief worried over Venezuela oil imports

[sabra]

Source: Reuters

WASHINGTON, June 26 (Reuters) - U.S. Energy Secretary Sam Bodman said on Tuesday he was worried that U.S. oil and petroleum product imports from Venezuela could decline now that Exxon <XOM.N> and ConocoPhillips <COP.N> have decided to exit major oil projects in that country.

The two giant U.S. oil companies both have left huge crude projects in Venezuela's Orinoco Belt, after President Hugo Chavez acted to nationalize the projects as part of his socialist revolution. Venezuela is the No. 4 foreign petroleum supplier to the United States.

"I'm concerned," Bodman told reporters. When asked if he was worried U.S. oil and product imports from Venezuela could be reduced with the companies leaving, he said: "Sure, of course."

Read more: http://www.alertnet.org/thenews/newsdesk/WBT007211.htm

[Double T]

1. Let's see how many more oil producing countries bushco can alienate...........

or annihilate to help drive up the price of oil.

[cobalt1999]

2. maybe in his own backward way, he'll reduce our CO2 emissions

by not having anything to burn.

[Double T]

3. It is a good time to buy a horse, before the prices start to go up.

[4dsc]

4. tip of the iceberg

Heck, its estimated that oil exports will DROP as much as 50% within 5 years so this is nothing.. Its already started in many oil producing countries where peak oil is a reality..