The president of Venzuela, Hugo Chavez, announced that he is sending his army to the petroleumfields in his country. With this he is threathening to cut off the petroleum supply to the US.
The president said this in his adress this friday in Caracas.
The president said this in his adress this friday in Caracas.
Sunday a referendum will be held in Venezuela about to socialistic revision of the constitution. Chavez used these threats in front of an audience excisting of thousand of supporters in Caracas. He said there will not go another drop of petroleum to the United States if Washington does not revise their plan to destabelise Venezuela. Venezuela is the sixth lagergest petroleum distributer in the world. Half of their production is exported to the United States.
This is offcours very bad news for the United States. If they lose this much petroleum it will have a bad impact on their economy. This could well be a devestating blow to the economy. The goverement is doing their best to stabelize the economy and this could cause a blow to their industry and that would be very bad.
I don't know what Washingtons plan is but they better revise it cause they don't won't this to happen. Im curious what Bush will do.
Nico Cottry
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