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$126 A Barrel

By Justin Gardner | Related entries in Energy, Gas, Oil, Venezuela

Yep, it’s getting worse.

So how long before $200?

Well, if we move against Hugo Chavez…probably not that long:

On Friday, The Wall Street Journal published a report that suggested closer ties between Venezuelan President Hugo Chavez and rebels attempting to overthrow Colombia’s government, heightening chances that the U.S. could impose sanctions on one of its biggest oil suppliers as a state sponsor of terror.

Chavez has been linked to Colombian rebels previously, but the paper reported it had reviewed computer files indicating concrete offers by Venezuela’s leader to arm guerillas.

“If we put on sanctions I’m sure Chavez would threaten to cut off our oil supply,” said Phil Flynn, an analyst at Alaron Trading Corp. “Obviously that would have a major impact on oil prices.”

More as it develops…

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This entry was posted on Friday, May 9th, 2008 and is filed under Energy, Gas, Oil, Venezuela. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “$126 A Barrel”

  1. gerryf Says:
    May 9th, 2008 at 10:01 am

    Oh boy, here come the drill in ANWAR, dang liberals won’t let us build refineries nonsense again…..

  2. kranky kritter Says:
    May 9th, 2008 at 11:01 am

    Wouldn’t it be more sensible to invade and annex? I mean what with the whole axis of evil thing and everyone thinking we’re imperial anyway.

    I’ve always said that if we invade somewhere, make sure there’s something good in it for us. Ayn Rand foreign policy. Real politik.

    and iff we could get Bush to do this now, we could blame him for it all and drive down the price of gas too. The next president cpuld come in and play good cop. Everybody wins. Well, maybe not Chavez, but, other than that…

  3. Dos Says:
    May 9th, 2008 at 11:16 am

    kranky — that is a superb idea, as far as I’m concern, time to rev-up up the new F-22s and give Seal Team 6 a new mission. Seriously, Venezuela could be a traffic place to vacation.

    This is the withdrawal of our petroleum addiciton. No one likes it because it hurts, but if it didn’t hurt then nothing would be accomplished in terms of this countries love affair with the black gold. Everyone hang on, because it is going to be a shacky next couple of years, maybe decade. But I believe it is ultimately in the interest of next generation (our children) to bear the pain of this withdrawal.

    Yee-haw.

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