Aces High Bulletin Board
General Forums => The O' Club => Topic started by: ZetaNine on February 13, 2008, 03:30:01 PM
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Venezuela Halts Oil Sales to Exxon Mobil
CARACAS, Venezuela (AP) -- Venezuela's state oil company said Tuesday that it has stopped selling crude to Exxon Mobil Corp. in response to the U.S. oil company's drive to use the courts to seize billions of dollars in Venezuelan assets.
Exxon Mobil is locked in a dispute over the nationalization of its oil ventures in Venezuela that has led President Hugo Chavez to threaten to cut off all Venezuelan oil supplies to the United States. Venezuela is the United States' fourth largest oil supplier.
Tuesday's announcement by state-run Petroleos de Venezuela SA, or PDVSA, was limited to Exxon Mobil, which PDVSA accused of "judicial-economic harassment" for its efforts in U.S. and European courts.
PDVSA said it "has paralyzed sales of crude to Exxon Mobil" and suspended commercial relations with the Irving, Texas-based company.
"The legal actions carried out by the U.S. transnational are unnecessary ... and hostile," PDVSA said in the statement. It said it will honor any existing contracts it has with Exxon Mobil for joint investments abroad, but reserved the right to terminate them if permitted by the terms of the contracts.
(http://officespam.chattablogs.com/archives/USS-New-York.jpg)
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Say hello to $5 a gallon gas! 15% of our oil comes from V.
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So this insane dictator in Venazuela is going to cost me a butt load of money then. I hope some shoots that nut before he starts a damn war.
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DO NOT buy Citgo gasoline.
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It's their oil, isn't it? Why not drill in Alaska, rather than start another war?
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Originally posted by bsdaddict
It's their oil, isn't it? Why not drill in Alaska, rather than start another war?
It's not theirs if an American company, found it, drilled, and was exporting it, untill he basically stole it from them and gave it to Citgo (Venazuela'snational oil company)
in all seriousness boycott Citgo. Make the bums go broke and give the assests back to the companies they stole them from.
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so who will Venezuela sell it's oil to? oil is sold on the open market so unless Venezuela is going to shut down it's oil wells the oil will go on the open world market and may end up in your tank anyway.
so there:p
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china
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Yeah the dictator nationalized it, basically said it's our's now, get out.
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Originally posted by john9001
so who will Venezuela sell it's oil to? oil is sold on the open market so unless Venezuela is going to shut down it's oil wells the oil will go on the open world market and may end up in your tank anyway.
so there:p
They can sell it to whoever they want, its all under 1 government controlled company.
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Originally posted by trax1
Yeah the dictator nationalized it, basically said it's our's now, get out.
Yup, now he's pissed that we are giving Venezuelan property in America to a company that he stole from.
I personally would have taken another route, but I'm quite a lot more vindictive.
I would have burnt to the ground / detonated every oil rig, well and set up that he was trying to steal. And THEN I would reciprocate the damage onto Venezuelan controlled rigs equal (but not more than) the amount of places he tried to Nationalize.
Not only would that Communist NOT gain more oil rigs and thus more money, but he'd lose just as much as he would have wished to gain.
Thereafter every time he would whine about it to the World Court / The UN, I would destroy one more location that mines oil in Venezuela.
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Originally posted by bsdaddict
Why not drill in Alaska,?
Alaska is Russian territory...Putin will not be pleased. :O :noid
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Originally posted by C(Sea)Bass
It's not theirs if an American company, found it, drilled, and was exporting it, untill he basically stole it from them and gave it to Citgo (Venazuela'snational oil company)
lol, so it's finders, keepers then?
in all seriousness boycott Citgo. Make the bums go broke and give the assests back to the companies they stole them from.
as zeta pointed out, they'll just sell to China. IMO the solution is to find an alternative, not start wars over finite resources.
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Originally posted by C(Sea)Bass
They can sell it to whoever they want, its all under 1 government controlled company.
no, they can sell it to whoever will buy it, you have no idea how the oil market works do you.
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Originally posted by lasersailor184
I personally would have taken another route, but I'm quite a lot more vindictive.
I would have burnt to the ground / detonated every oil rig, well and set up that he was trying to steal. And THEN I would reciprocate the damage onto Venezuelan controlled rigs equal (but not more than) the amount of places he tried to Nationalize.
Not only would that Communist NOT gain more oil rigs and thus more money, but he'd lose just as much as he would have wished to gain.
Why bother destroying BILLIONS of dollars worth of infrastructure, and galvanize locals to forever hate America?
Not very smart.
Just overthrow Chavez. Assassinate him.
If he proves resilient to Seal teams spotting him and dropping bombs on his house, like Saddam was, send the Armed Forces in to occupy the country under a WMD/Terror pretext.
If the script ain't broke, don't fix it, that's what I always say.
Exxon-Mobil made more than $400B in *profit* last QUARTER. I'm sure they can afford a few Blackwater guys to laze his house.
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Killing him wont do any good, the people in Venezuela voted this guy into office, they'll just put another dictator in his place.
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Originally posted by trax1
Killing him wont do any good, the people in Venezuela voted this guy into office, they'll just put another dictator in his place.
When they voted him in they were not aware he would turn the presidency into a dictatorship.
I'm sure the Columbians would have no problem taking out the commie pig, with some U.S. backing of course.
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exxon-mobil made $40.6 billion net . The company’s sales, more than $404 billion. That's 10% profit.
if you think they make too much money, stop buying their gas.
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Originally posted by Dos Equis
Just overthrow Chavez. Assassinate him.
Your answer lies in this article.
http://blogs.wsj.com/informedreader/2007/07/08/reasons-to-rethink-the-ban-on-assassination/
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What I've read is that the US is one of a very few that is set up to refine Venezuealen crude. The idiot Chavez is shooting himself in the foot.
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Yea. Venezuela owns a bunch of refineries in the US set up specifically to refine their crude because it's not very high quality. At this time in history, any oil is good oil, but it'll cost them a lot to trick someone else into going into business pumping, importing, and refining Venezuelan oil. After all, who wants to expend capital doing business with a country that just nationalized a bunch of perfectly legal corporate assets?
It would be a really big gamble. Maybe China would benefit from such a venture, but I'm not sure who else would think it's all that great of an idea.
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Originally posted by Dos Equis
Why bother destroying BILLIONS of dollars worth of infrastructure, and galvanize locals to forever hate America?
Not very smart.
Just overthrow Chavez. Assassinate him.
If he proves resilient to Seal teams spotting him and dropping bombs on his house, like Saddam was, send the Armed Forces in to occupy the country under a WMD/Terror pretext.
If the script ain't broke, don't fix it, that's what I always say.
Exxon-Mobil made more than $400B in *profit* last QUARTER. I'm sure they can afford a few Blackwater guys to laze his house.
We don't care what he does, as long as he does it to himself. But when he starts to steal other company's property he and every other communist in the world must know that they will be punished where it hurts them the most. In the bank account.
Screw assassinating him. I want to watch him squirm as he runs out of other people's money.
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Originally posted by trax1
Yeah the dictator nationalized it, basically said it's our's now, get out.
And we're not at war with Saudi Arabia why? ;)
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Originally posted by Arlo
And we're not at war with Saudi Arabia why? ;)
They're 4th on the "list o' places that screw with oil"
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Originally posted by Arlo
And we're not at war with Saudi Arabia why? ;)
because president obama doesnt like war.
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It's only gonna get worst from here on out, I've heard estimates that say we have less then 50 years of fossil fuels left, just think what it's gonna be like when we get closer to the end.
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Originally posted by trax1
It's only gonna get worst from here on out, I've heard estimates that say we have less then 50 years of fossil fuels left, just think what it's gonna be like when we get closer to the end.
I'm moving to Mars
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Originally posted by john9001
because president obama doesnt like war.
Hmmm ... rather random. Have another? :D
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Originally posted by john9001
because president obama doesnt like war.
That made absolutely no sense. Not even to the Rednecks'.
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Can't we just deploy an AH BBS poster to nag Chavez to death? :D
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I see this as the only reason for another world war.
A war over oil.
Endgame. WW3. (http://www.gamespot.com/video/939668/6171322/tom-clancys-endwar-official-trailer-1)
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Originally posted by FrodeMk3
That made absolutely no sense. Not even to the Rednecks'.
No kidding.
Especially since the real answer is that George Senior and his Carlyle Group buddies are good friends with the Saudis.
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Originally posted by SuBWaYCH
I see this as the only reason for another world war.
A war over oil.
Endgame. WW3. (http://www.gamespot.com/video/939668/6171322/tom-clancys-endwar-official-trailer-1)
When you grow up you'll realize that we are due for another Religious Crusade.
That will be a fun World War.
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That will be a fun World War.
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It will be over before you know it.
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Originally posted by lasersailor184
When you grow up you'll realize that we are due for another Religious Crusade.
That will be a fun World War.
To the Holy Land! where ever the hell that may be
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Originally posted by lasersailor184
When you grow up you'll realize that we are due for another Religious Crusade.
That will be a fun World War.
I'm seein' room for more than one needin' to possibly grow a bit there. ;)
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Originally posted by lasersailor184
When you grow up you'll realize that we are due for another Religious Crusade.
"we shall convert the non-believers"
"convert them?"
"TO RADIOACTIVE VAPOR!!!"
:rolleyes:
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Originally posted by Yeager
That will be a fun World War.
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It will be over before you know it.
When you consider it, nearly all of the old World Wars were fought between nations with set lines.
Where are the lines for the Christians and the lines for the Muslims?
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Originally posted by SuBWaYCH
I see this as the only reason for another world war.
A war over oil.
Endgame. WW3. (http://www.gamespot.com/video/939668/6171322/tom-clancys-endwar-official-trailer-1)
Looks like it should be a fun game. Too bad we are all gonna be dead after the EMP pulse and nukes hit the fan by the end of the year.
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Originally posted by Reschke
Looks like it should be a fun game. Too bad we are all gonna be dead after the EMP pulse and nukes hit the fan by the end of the year.
Bubblehead! ;)
(Says the former VP swabbie) :D
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(http://www.robertamsterdam.com/sands.jpg)(http://www.cargillpowerandgas.com/images/alberta_oil.jpg)
(http://nixonisinhell.files.wordpress.com/2007/11/tarsand_gloves.jpg)
I'm hauling freight once in awhile to Fort McMurray, Alberta, been there 2 weeks ago, temperature outside below -40 F, but it's a crazzy economic boom , due to oil sands exploration, Big $$$$ in any jobs, You see signs "Hiring now" all over, huge need of workers in any kind of jobs from simple services,oil field to IT: they are paying over 20$/hour for a simple coffe shop workers, but the cost of living is very high, modest houses cost over 500 000$, monthy rent over 1500 $ for a simple apartment,but everybody makes $$$ there.
There are 175 billion barrels of proven oil reserves here, enough to satisfy the North American market for next 100 years. That’s second to Saudi Arabia’s 260 billion barrels, and it's located 600 miles north of Montana/US border. I wonder why Exxon doesn't invest more $$ there, not arguing with Chavez,
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The oil in venezuela is not the good stuff.. it is high sulfur content and only a few refineries in the world can refine it.. they happen to be US ones.
exxon has more money in the bank than the entire gross national product of venezuela.
exxon won the court battle by an international court.
We do need to do some anwar drilling and some offshore drilling tho.
lazs
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You could assassinate a president, or invade my country and take over Fort McMurray, hell drop a few nukes here and there for good measure.
Or
Park the big ol SUV and use less fuel. I dunno, that might be too tough, its easier to just go to war I suppose.
One thing for certain, fuel will be going up in North America, and there aint a gawd damn thing we can do about it.
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Originally posted by skernsk
You could assassinate a president, or invade my country and take over Fort McMurray, hell drop a few nukes here and there for good measure.
Hmmm, yes we could take over America Jr., I like that idea.:D
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I guess 7-11 is in for a rough time in the near future..
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Originally posted by bsdaddict
It's their oil, isn't it? Why not drill in Alaska, rather than start another war?
He nationalized it all last year.. It would be the same as having our govt take control of all foreign owned assets in our country. I've been expecting a hostel take over in his country every since Chavez started acting like a nut job. I kinda figured a "revolution" would start up sponsored by our govt.
I'm almost certain the only reason he's still alive is because he's been so public and in the news. Otherwise I'm sure he would have been taken out by now.
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Boycotting CITGO primarily serves to hurt independent American petroleum marketers. CITGO does not operate any company ops. CITGO has also been one of the better companies as far as taking care of its marketers, and it has some excellent marketers. It's a shame they have Chavez looming over their operations. Chavez is going to end up ****ing over the golden goose he uses to bribe the poor.
BTW, sat in on a presentation by Imperial Oil (Canada) on it's oil sands projects this week. Amazing stuff. Some of the sands have a viscosity higher than peanut butter, and the process involved with extracting the sands then converting it to bitumen or synthetic oil is pretty intense. It requires strip mining (often); a lot of energy and a lot of water. As long as crude stays above $40 to $50 bbl though it can make sense. There is even talk of using nuclear reactors for the energy component, though nuclear has some steep up front capital costs. Also, a lot of pipeline work needs to be done to fully exploit the oil as well as refinery enhancements to process. Of course, another significant source of oil sands in the hemisphere is Venezuela :(
Charon
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Originally posted by crockett
He nationalized it all last year.. It would be the same as having our govt take control of all foreign owned assets in our country. I've been expecting a hostel take over in his country every since Chavez started acting like a nut job. I kinda figured a "revolution" would start up sponsored by our govt.
I'm almost certain the only reason he's still alive is because he's been so public and in the news. Otherwise I'm sure he would have been taken out by now.
I thought he nationalized some domestic oil assets as well.
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Originally posted by lasersailor184
I thought he nationalized some domestic oil assets as well.
Yea it wasn't just Exxon. It's why I've been expecting him to blow up in a car or get shot for quite some time now. You just don't "steal" that kind of money from those kind of companies and not pay the piper.
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Originally posted by skernsk
You could assassinate a president, or invade my country and take over Fort McMurray, hell drop a few nukes here and there for good measure.
Or
Park the big ol SUV and use less fuel. I dunno, that might be too tough, its easier to just go to war I suppose.
One thing for certain, fuel will be going up in North America, and there aint a gawd damn thing we can do about it.
Why even bother invading Canada. we could just go up and take the oil, they wouldn't care, especially if it is hockey season.:D
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Originally posted by Charon
Boycotting CITGO primarily serves to hurt independent American petroleum marketers. CITGO does not operate any company ops.
I understand that. the stations are independently owned by americans...but the fact is.......what runs through their pumps is 100% chavez iol........ and in this case.......I perfer to kill the message and the messenger. the operators have the option to go with someone else, I'm sure...even under penalty...so that's their choice to make.
Kudo's to 711 for doing this and dumping Citgo already.
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isn't Chavez giving millions of gallons of heating oil to the poor in our own country? Kinda funny.
Cant say i agree with his choices of taking over the oil inderstry in his country, But he is not the first to do it either, Russa did it a couple years back. When they decided privatization of iol is not good for their country
Its the chances you take when you operate in a country. Companies get fined and closed down when they do something not in the interest of the country they operate in.
Chavez got elected because he talked about creating social programs to help his country, including getting more of the money from there own natural resources..
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I am working on a few long term projects for the Fort McMurray area dealing with tar sands transportation via pipelines. There are some pretty high dollar projects happening with many long term outcomes. The projection on three of the projects I am working on is a deal for 24" ID abrasion resistant pipes worth a few billion dollars. We know that our material will outlast anything else up there on the abrasion resistant side of things but we can not guarantee we will be able to meet expected requirements on delivery.
The problem with a lot of that area is the companies that are investing heavily up there are owned by the Chinese government and they are tossing money around like it is sand on the beach. A pretty good chunk of that oil up there will not make it into North America since the rights have been purchased by the Chinese. The only way to secure it for North America is for Canada and the US to agree to jointly nationalize the fields there but then you create an issue just like you have in Venezuela.
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Lets look at this from a more of a financial standing. Venezuala has about $65.94 billion in its GDP. Exxon has that much money in its bank account.
I think we know who is going to win here.
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70 % of Venezuela's oil exports go to the US, who is sticking who?
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$5 a gallon?
Oh the humanity!
When you're paying $2 a litre, let me know. You might get some sympathy! ;)
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Let Chavez cut off the flow of money to Venezuela and he may join these guys.
(http://www.pissedonpolitics.com/mussolini.jpg)