Venezuela Invasion ... Act one ...

[belgarion]

Fifth largest oil producer and one of the US's biggest suppliers ... Also a strategic supplier because of the shipping route.

Chavez Tells U.S.: 'Get Your Hands Off Venezuela! (http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=4508564)

... I guess it's just a matter of time now for Chavez. Still, he was fun while he lasted. I cracked up when he called Bush an a.s.s.h.o.l.e. No political leader will be able to stand up to the world's 'free' press when they start propaganda'ising all the skeleton's in Chavez's closet. Shame actually, the people actually like him. So much for democracy.

Sharetraders would do well to keep a watching brief on what happens. If them oil supplies into the US stop or look like stopping, (Chavez has already said they will if the US 'regime change' agencies start operating in Venezuela), the US markets are likely to experience a significant sell off.

[trendy]

Local news here (CNN, ABC etc) are reporting gasoline may hit $3.50 a gallon during this summers (peak gasoline use) driving season due to most of the East Coast being supplied via Venezuela refined gasoline. West coast prices are at $2.50 gallon for premium already. These prices are unheard of especially when it is only $1.65 gallon here today. Have to wait and see what unfolds, but if this doesn't spike inflation nothing will :)

[Capitalist]

Jesus Murphy, this just proves it was a "War for Oil" in Iraq. See what good it has done. Bwahahaha!!! :D:D:D

[belgarion]

What's the matter Cap? ...

Surely as a capitalist you applaud 'free markets'? Venezuela is free to sell to whomever they like, whenever they like. If they choose not to sell to the USA because they deem it not in their best long term interests ... then so be it. Capitalism is about choosing to own and sell and buy when you want and to whom you want to.

Opec and other oil producers know that time is running out. Why produce loads and loads, selling at low prices over a short period when you can restrict supply and sell at higher prices over a far longer period? Surely this is capitalism at it's most pure? The fact that the US economy is going to get stuffed is just a by product of the 'free market' system they are so incredibly fond. More fool them for not planning ahead and using their own resources a little more judiciously than they have.

[marcer]

Belg, how dare you question the right of the US to intervene in any other country. My goodness, the fate of all freedom loving democratic countries could be under threat from this pinko commie thug Chavez.
Reminds me of when the nasty Sandinista's in Nicaragua were "two days march from Texas"(Reagans words) Ohhh the danger to the US, so they had to set up an undercover war there. A war which they were ordered to stop by the world court, a war in which they used planes with red cross markings (illegal under Geneva Contn).

Yep I agree, Chavez controls a fair amount of oil and is also pursuing policies that are benefiting the poor (a huge majority there). Because of that, the US govt will see him as the source of a virus (that Sth and Central American countries will get the idea that they should be able to use their resources to benefit them, not the US). All this points to a possibly short period of time for Chavez to still be President in Venezuela.
Regards Marcer

[marcer]

http://www.zmag.org/content/showarticle.cfm?SectionID=45&ItemID=5364

An article from a Newsday reporter about those amazing lengths the US will go to encourage "democracy" (that benefits itself of course).

Regards Marcer

[mikescott]

aa

[belgarion]

And Venezuelan just happens to be one of the largest suppliers of oil to the US ... Imagine the double whammy of Venezuelan oil refineries and a couple of middle-eastern ones as well were shut down ... Venezuelan Recall Is in Dispute Even Before the Vote (http://www.nytimes.com/2004/06/11/international/americas/11vene.html?ex=1087969966&ei=1&en=4082c208bdd47100) ... Biggest single day fall in world markets in recent times? I wouldn't be supprised.