Venezuela's Chavez says oil headed for $100 barrel

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Venezuela's Chavez says oil headed for $100 barrel

Venezuela's Chavez says oil headed for $100 barrel

Sat Aug 11, 4:35 PM ET

World oil prices are headed for $100 per barrel, Venezuelan President Hugo Chavez predicted on Saturday, and said he will cut supplies to the United States if the U.S. government "attacks" the South American nation again.

"I've always said that oil prices are headed straight to $100 per barrel," he said during a televised speech. "We should prepare ourselves for those prices of one hundred dollars."

Chavez said high oil prices were the sign of a "global crisis" in energy caused by voracious consumption that has vastly reduced available oil reserves.

Chavez has accused the United States of plotting a bungled coup that ousted him for two days in 2002, though Washington denies the accusations, and has repeatedly made conditional threats to cut off oil sales to the United States that historically account for 12 to 15 percent of U.S. imports.


Last seen: 12 years 3 months ago
Joined: Tuesday, September 4, 2007 - 02:35
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Re: Venezuela's Chavez says oil headed for $100 barrel

Chavez is right about the price of oil. It's not like the trend has been for it to get cheaper. Oil is over twice what it was not very long ago. It wouldn't surprise me if he is right about that coup attempt as well.

I know some people don't like Chavez but he's got support deep and wide and was elected, unlike some of our allies. You may not like some of his rhetoric but at least he hasn't invaded a foreign country illegally, causing the deaths of hundreds of thousands and the creation of millions of refugees. Or kidnapped people and tortured them.
Speaking of kidnapping, he's recently offered to try and help Columbia gain the freedom of a huge number of kidnapped people held by the FARC. Columbian President Álvaro Uribe was extremely grateful for the offer.

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