Venezuela's Chavez says oil headed for $100 barrel

[babsbunny]

http://news.yahoo.com/s/nm/20070811/bs_nm/venezuela_oilprice_dc_1;_ylt=At.Gim11zZ91wh4jrC5NmpBlM3wV

Sat Aug 11, 4:35 PM ET



CARACAS (Reuters) - 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."

[SpiralHawk]

1. "Oh, we're prepared alright. Smirk, smirk, smirk" - Commadner AWOL & republicon oil cronies

[enid602]

2. good news

The good news is that the dollar won't be worth anything, and the rest of the world will enjoy a discount.

[paulk]

3. I'm sure he'd like that, since VZ oil sells for less than the

world average. He sounds like the CEO of a major oil company, trying to pump up the price. Oh, wait - I guess he is, now that the oil industry in VZ has been nationalized.

And the rest seems a hollow threat - who else is he going to sell it to? VZ oil requires special refineries to process, and most of them are here in the US. It will take years for China or, anyone else, to come on line for VZ oil. Chavez needs to cash in on the high prices now, since that's the only thing holding his revolution up. If oil drops, he'll go the same way as Peres - out the door.