venezuela turns off tap to exxon mobile

goin_south says on Feb 12, 2008, 21:48:

oh boy! gas at $6/gallon coming to your store soon!

Oh, wait.... I forgot: IRAQ

Ciao! Gustav. Bienvenitos, Ike.

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scotty says on Feb 12, 2008, 22:03:

Chavez...he is something else isnt he? I would get angry with him but he is so damn pathetic and just have to laugh at him.

This will be another excuse for the oil companies to raise the price of gasoline, here we go again!

Get Rhythm, when you got the blues. Johnny Cash

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DodgerDogs says on Feb 12, 2008, 22:23:

I forgot what I was gonna write

Our lives begin to end the day we become silent about things that matter.Martin Luther King:

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poco says on Feb 12, 2008, 22:29:

More likely, the market / traders will cause the price to rise.

Six dollars per gallon,, doubt that. Other countries pay that much now but NOT FOR THE GAS ONLY. The big chunk is TAXES. There are places in the world that NEED the tax revenue to support their system. Oh,, I forgot,, this is done to make OTHER fuels cost effective,, reduce emissions, help the environment and of course make having a MOTO fashionable.

Motley Fool has something to say about this.

http://www.fool.com/investing/dividends-income/2008/02/11/exxon-and-ch...

Personally I'd like to see him quit selling oil. I doubt he would last 2 months with no income.

Just think, no income, no food, no Chavez.

"When you men get home and face an anti-war protester, look him in the eyes and shake his hand. Then, wink at his girlfriend, because she knows she's dating a pussy." Quote - General Tommy Franks

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Robert Jorge says on Feb 13, 2008, 04:32:

I always get a kick out of people who still seem to think politicians in the US have control over world oil prices. Try world commodities markets and trader speculation.

--"I believe in making the world safe for our children. But not for our children's children, because I don't think that children should be having sex." - Jack Handy

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tasco66 says on Feb 13, 2008, 05:29:

Chavez is selling Venezuelan assets as fast as he can to finance his “Bolivarian Revolution":

US private equity firm to buy PdVSA's Bahamas oil terminal

The Associated Press
Tuesday, February 12, 2008

NEW YORK: Private equity firm First Reserve Corp. said Tuesday it agreed to acquire a storage terminal from Petroleos de Venezuela SA, just weeks after Exxon Mobil Corp. secured a freeze order on billions of the Venezuelan oil company's assets.

First Reserve said in a statement it would buy Bahamas Oil Refining Co., an oil terminal in Freeport, Bahamas, with a storage capacity of 20 million barrels.

The terms of the deal weren't disclosed, and the transaction is expected to close early in the second quarter.

PdVSA first confirmed its intention to sell the terminal known as Borco in late November. At the time, PdVSA had received an $800 million (€550 million) bid for the facilities.

Exxon Mobil, the world's largest energy company by market capitalization, has secured court orders to freeze more than $12 billion (€8.25 billion) of PdVSA's worldwide assets. Exxon Mobil has already filed for arbitration over compensation for its stake in an Orinoco Basin oil project. The Irving, Texas-based company walked away from the project last summer after rejecting new contract terms demanded by Venezuelan President Hugo Chavez.

The orders are set to be examined during additional court hearings over the next two weeks. Meanwhile, Venezuelan officials have slammed Exxon Mobil for engaging in litigation outside the arbitration process and have threatened to cut off oil exports to the U.S.

Legal experts say the freeze orders won't affect PdVSA's day-to-day operations.

It's unlikely that Exxon Mobil will contest PdVSA's oil storage terminal sale to First Reserve because PdVSA still has tens of billions of dollars of assets on its books.

The acquisition of the terminal will be financed in part by a senior secured credit facility fully underwritten by ABN Amro.

http://www.iht.com/articles/ap/2008/02/12/business/NA-FIN-US-PdVSA-Oil...

Bravo, Presidente Uribe for the perfect operation!

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