Chavez calling on OPEC to use the "Oil Weapon"

[williambedloe]

Don't be fooled folks - spooking the oil markets with bluster is getting to be old hat with these people - they spook the oil markets, oil prices rise, and it fills their coffers with money. I think this is Iran's way of getting around sanctions - if they keep the price of oil high with tension, they continue to receive economic benefits despite sanctions. Once the world figures this out, Iran will do something like they did with the British sailors - that spooked the markets enough to really get the cash flowing in...all talk, IMO




Chavez Tells OPEC to Use Politics, Curb `Imperialism' (Update1)

By Daniel Williams and Maher Chmaytelli

[/URL]

Nov. 19 (Bloomberg) -- Venezuelan President Hugo Chavez brought his revolutionary zeal to the cartel that controls 40 percent of the world's oil, urging fellow members at a weekend summit to fight against ``imperialism'' and ``exploitation.''
Chavez used the Riyadh, Saudi Arabia, meeting of the Organization of Petroleum Exporting Countries to advance a struggle for the soul of the cartel. Countering him was the conference host, Saudi King Abdullah, who said the organization's goal was simply to produce prosperity.
Their contrasting visions elbowed aside the usual OPEC talk about production quotas and currency fluctuations. In the short term at least, Abdullah's vision is likely to prevail, said Ihsan Bu-Hulaiga, who runs a private business consulting firm in Riyadh and advises the Saudi government.
``OPEC has to do with oil; it cannot solve the world's problems with a political agenda,'' he said. ``It would be putting its bread and butter at risk.''
Support for Chavez came from President Rafael Vicente Correa of Ecuador and from Iran's Mahmoud Ahmadinejad, whose nation is the target of a U.S.-led campaign of sanctions and pressure over allegations that it is pursuing nuclear weapons and destabilizing the region.
Chavez, 53, and Correa, 44, stopped short of threatening an embargo in case of a U.S. attack on Iran. ``We don't want to speculate,'' Correa said in response to a question about whether a halt in oil sales to the U.S. should be employed in case of war.
Anti-Colonial Roots
Chavez said his call for geopolitical activism takes OPEC back to its anti-colonial roots. He likened OPEC to the Non- Aligned Movement, a group founded in the 1950s to stand outside the Soviet-U.S. rivalry. Chavez also addressed OPEC's debate over whether to drop the U.S. dollar as its currency for pricing oil. ``The dollar is in a free fall and everyone should be worried about it. The fall of the dollar is not the fall of the dollar. It's the fall of the American empire,'' he told a cluster of reporters outside the OPEC meeting hall yesterday.
King Abdullah brushed off proposals from Chavez and Ahamdinejad to drop the dollar.
To counter Chavez's appeal, Bu-Hulaiga said, OPEC needs the U.S. to help ease tensions with Iran and to resolve the Israel- Palestinian conflict. ``It's not enough to ask Chavez to be quiet,'' he said in an interview. ``We need responsibility everywhere. The United States can help lower the tone.''
OPEC has used oil as a weapon before, when its Arab members stopped sales to countries that supported Israel in the 1973 Middle East war. The actions sent petroleum prices spiraling upward, created long lines at gas stations in the United States and Europe and produced high inflation across the globe.
$250 Barrel
Correa said a new war in the region could drive prices to $250 a barrel. Chavez, in his speech, predicted a figure of $200 ``if the United States is crazy enough to invade Iran.'' On Nov. 16 in New York, crude oil for December delivery closed at $95.10 a barrel.
Ahmadinejad, 51, played down the possibility of a U.S. attack, saying that President George W. Bush's administration lacks the ``economic, political and military'' means to carry one out. ``No war will break out in the region,'' he predicted during a news conference yesterday.
``Iran and Venezuela, because they have ideological differences with the U.S., are trying to drag the other OPEC members into the conflict, by appealing to solidarity against imperialism and aggression,'' said John Sfakianakis, chief economist at the Saudi British Bank in Riyadh and formerly a research fellow at Harvard University's Center for Middle Eastern Studies.
The era of OPEC political activism is over, the cartel's Secretary General Abdalla el-Badri told reporters last week. ``We are not using the oil we sell to the world as a political weapon,'' he said at a Nov. 14 press conference in Riyadh..."

[URL]http://www.bloomberg.com/apps/news?pid=20601087&sid=aNmE.oybx0H0&refer=worldwide (http://www.bloomberg.com/apps/news?pid=photos&sid=aNmE.oybx0H0)

[Howler]

What your saying makes some sense.
IMO its more than talk, Iran and Venezuela hate us, and would like nothing more than to crash our economy. Weather they could or not, is open to debate.

[revjhg]

What you say is true. But nah, they can't do it. Not a chance.

[dinar shore]

Don't be fooled folks - spooking the oil markets with bluster is getting to be old hat with these people - they spook the oil markets, oil prices rise, and it fills their coffers with money. I think this is Iran's way of getting around sanctions - if they keep the price of oil high with tension, they continue to receive economic benefits despite sanctions. Once the world figures this out, Iran will do something like they did with the British sailors - that spooked the markets enough to really get the cash flowing in...all talk, IMO




Chavez Tells OPEC to Use Politics, Curb `Imperialism' (Update1)

By Daniel Williams and Maher Chmaytelli

[/URL]

Nov. 19 (Bloomberg) -- Venezuelan President Hugo Chavez brought his revolutionary zeal to the cartel that controls 40 percent of the world's oil, urging fellow members at a weekend summit to fight against ``imperialism'' and ``exploitation.''
Chavez used the Riyadh, Saudi Arabia, meeting of the Organization of Petroleum Exporting Countries to advance a struggle for the soul of the cartel. Countering him was the conference host, Saudi King Abdullah, who said the organization's goal was simply to produce prosperity.
Their contrasting visions elbowed aside the usual OPEC talk about production quotas and currency fluctuations. In the short term at least, Abdullah's vision is likely to prevail, said Ihsan Bu-Hulaiga, who runs a private business consulting firm in Riyadh and advises the Saudi government.
``OPEC has to do with oil; it cannot solve the world's problems with a political agenda,'' he said. ``It would be putting its bread and butter at risk.''
Support for Chavez came from President Rafael Vicente Correa of Ecuador and from Iran's Mahmoud Ahmadinejad, whose nation is the target of a U.S.-led campaign of sanctions and pressure over allegations that it is pursuing nuclear weapons and destabilizing the region.
Chavez, 53, and Correa, 44, stopped short of threatening an embargo in case of a U.S. attack on Iran. ``We don't want to speculate,'' Correa said in response to a question about whether a halt in oil sales to the U.S. should be employed in case of war.
Anti-Colonial Roots
Chavez said his call for geopolitical activism takes OPEC back to its anti-colonial roots. He likened OPEC to the Non- Aligned Movement, a group founded in the 1950s to stand outside the Soviet-U.S. rivalry. Chavez also addressed OPEC's debate over whether to drop the U.S. dollar as its currency for pricing oil. ``The dollar is in a free fall and everyone should be worried about it. The fall of the dollar is not the fall of the dollar. It's the fall of the American empire,'' he told a cluster of reporters outside the OPEC meeting hall yesterday.
King Abdullah brushed off proposals from Chavez and Ahamdinejad to drop the dollar.
To counter Chavez's appeal, Bu-Hulaiga said, OPEC needs the U.S. to help ease tensions with Iran and to resolve the Israel- Palestinian conflict. ``It's not enough to ask Chavez to be quiet,'' he said in an interview. ``We need responsibility everywhere. The United States can help lower the tone.''
OPEC has used oil as a weapon before, when its Arab members stopped sales to countries that supported Israel in the 1973 Middle East war. The actions sent petroleum prices spiraling upward, created long lines at gas stations in the United States and Europe and produced high inflation across the globe.
$250 Barrel
Correa said a new war in the region could drive prices to $250 a barrel. Chavez, in his speech, predicted a figure of $200 ``if the United States is crazy enough to invade Iran.'' On Nov. 16 in New York, crude oil for December delivery closed at $95.10 a barrel.
Ahmadinejad, 51, played down the possibility of a U.S. attack, saying that President George W. Bush's administration lacks the ``economic, political and military'' means to carry one out. ``No war will break out in the region,'' he predicted during a news conference yesterday.
``Iran and Venezuela, because they have ideological differences with the U.S., are trying to drag the other OPEC members into the conflict, by appealing to solidarity against imperialism and aggression,'' said John Sfakianakis, chief economist at the Saudi British Bank in Riyadh and formerly a research fellow at Harvard University's Center for Middle Eastern Studies.
The era of OPEC political activism is over, the cartel's Secretary General Abdalla el-Badri told reporters last week. ``We are not using the oil we sell to the world as a political weapon,'' he said at a Nov. 14 press conference in Riyadh..."

[URL]http://www.bloomberg.com/apps/news?pid=20601087&sid=aNmE.oybx0H0&refer=worldwide (http://www.bloomberg.com/apps/news?pid=photos&sid=aNmE.oybx0H0)

IMO, we need to expose Chavez to one of our 'new weapons'.:swear:

[jram_00]

:giggle:

I looked up "Idiot" in the dictionary and this is what I found:

http://www.theweeklydonut.org/wp-content/donuts/2006/09/Hugo_the_Hawker_1.jpg

[jram_00]

Chavez' bedfellows....
http://www.globalnewscast.com/GoToStories-3091/images/Sheehan-Chavez-anti-US.jpeg

(Notice the peace signs on Cindy's shirt:giggle: )

http://www.newprophecy.net/Venezuelan_President_Hugo_Chavez_greets__Iranian_P resident_Mahmoud_Ahmadinejad.jpg

http://www.russiablog.org/putin-chavez.jpg

http://d.yimg.com/us.yimg.com/p/ap/20070802/capt.75128e4826f946acb8d88d58d2aa9164.venezuela_ch avez_penn_car101.jpg

http://www.news.com.au/common/imagedata/0,,5253273,00.jpg

http://www.moonbattery.com/archives/jimmy-carter-hugo-chavez.jpg

But lets not forget his FAVORITE BEDFELLOW:

http://www.floppingaces.net/wp-content/brokecountryfountain.JPG

[sellmhi]

What you say is true. But nah, they can't do it. Not a chance.
They can do it. What is playing out on the world stage with the spotlight being on oil is just a big game of chess with several masters calling the shots. If Chavez and the other idiots of world governments pursuade OPEC and other producers to have the price of oil raised, it may look bad and will hurt but in the long run hurts them more than the US. 200 dollars a barrel will not go to the producing country. They get a small piece even though it will raise their income. The biggest piece goes to the IMF and World Bank and a large part of these funds are used by the US for "Balance of Payment". The US has been running a trade deficit with the world for several decades which has in fact been used to build several economies worldwide. With the dollar dropping and oil rising it is a dual benefit to the dollar and probably the US economy. US exports have already risen considerably which also has a positive impact on "Balance of Payment". This all contibutes to paying down the US debt which for decades has been exploited to build friends, partnerships and economies of the world. Let's just hope those in power do what's right to make sure that enough is done in a controlled manner to bring the US financials to an acceptible level. JMHO.

[dinar shore]

Chavez' bedfellows....
http://www.globalnewscast.com/GoToStories-3091/images/Sheehan-Chavez-anti-US.jpeg

(Notice the peace signs on Cindy's shirt:giggle: )

http://www.newprophecy.net/Venezuelan_President_Hugo_Chavez_greets__Iranian_P resident_Mahmoud_Ahmadinejad.jpg

http://www.russiablog.org/putin-chavez.jpg

http://d.yimg.com/us.yimg.com/p/ap/20070802/capt.75128e4826f946acb8d88d58d2aa9164.venezuela_ch avez_penn_car101.jpg

http://www.news.com.au/common/imagedata/0,,5253273,00.jpg

http://www.moonbattery.com/archives/jimmy-carter-hugo-chavez.jpg

But lets not forget his FAVORITE BEDFELLOW:

http://www.floppingaces.net/wp-content/brokecountryfountain.JPG


I'm still amazed that any man would ever have sex with sheehan....bow wow!:puke:

[Grizzly Bear]

I call on all true Americans to boycot CITGO, as chavez owns them. No US revenue from his Citgo stations means he will have to fill a huge void elsewhere in the world and ultimately drive the price of oil down as opposed to his rational. Kinda like kicking Chaves' butt at his own threat game. I for one will pass my old friends at Citgo until Chavez is outta the picture, coming fresh off hunting season I would gladly volunteer from a hunting trip to Venezuela:muscle: :muscle:

[jram_00]

I'm still amazed that any man would ever have sex with sheehan....bow wow!:puke:

I thought Sheehan was a man with a girl's name:giggle:

[geowhiz]

Its the politics of oil, and we are stuck in the middle of it. Blame ourselves, we want big houses in suburbia, big SUV's, the ability to fly from one end of the country to another by noon on a Tuesday. OPEC is who we buy the drugs from, Venezuela is the closest supply. If they want to play their mind-games let 'em, OPEC ensures we get our oil from the cartel, not the individual country (for a ridiculous price - no doubt.) Personally its worth it for me to pay 5 bucks or more per gallon so I will. Much of the rest of our country wont be able to, and will have to take the bus. Boo Hoo..

[frank a bouchet]

Chavez is doing exactly what every dictator does when they get total control.Nationalize all industry,confiscate all personal property,throw a few crumbs to the poor (make them think he is on their side)As long as oil is high, they use this money to cover up all deficiencies in their economic policies,but as soon as the price begins to fall (and it will)then the country turns into total chaos,the currency starts to fall in value-then you see them try to resort to the same old tactics that never work-loop the currency,freeze money from leaving the country,and other acts of desperation.Then there is a revolt and they get overthrown-hopefully for the better,but most of the time by someone just as bad, or worse-see Cuba.Venezuela will be the same. My thoughts!!!

[williambedloe]

They can do it. What is playing out on the world stage with the spotlight being on oil is just a big game of chess with several masters calling the shots. If Chavez and the other idiots of world governments pursuade OPEC and other producers to have the price of oil raised, it may look bad and will hurt but in the long run hurts them more than the US. 200 dollars a barrel will not go to the producing country. They get a small piece even though it will raise their income. The biggest piece goes to the IMF and World Bank and a large part of these funds are used by the US for "Balance of Payment". The US has been running a trade deficit with the world for several decades which has in fact been used to build several economies worldwide. With the dollar dropping and oil rising it is a dual benefit to the dollar and probably the US economy. US exports have already risen considerably which also has a positive impact on "Balance of Payment". This all contibutes to paying down the US debt which for decades has been exploited to build friends, partnerships and economies of the world. Let's just hope those in power do what's right to make sure that enough is done in a controlled manner to bring the US financials to an acceptible level. JMHO.

It will hurt if the oil sales are no longer denominated in dollars. For now, these rogue powers are having a field day making everyone skittish, and raising the price of oil:

http://www.forbes.com/business/2007/03/29/iran-oil-hostages-biz-cx_tvr_0329iran.html

Energy
Iran Rakes In A Profit
Tom Van Riper, 03.29.07, 12:54 PM ET



What's a single British sailor worth to the Iranian government? In excess of $2 million, so far.
Oil analysts have pointed to the political tensions stemming from Iran's capture of 15 British sailors and marines on March 23 as the prime catalyst that has moved crude prices higher every day since. That's provided a nice little windfall for the world's fourth-largest oil producer.
From a closing price of $61.69 a barrel the day before the capture to the latest trading price of $65.34, crude has risen from as little as four cents to as much as 67 cents in each of the last five trading days. Multiplying the increases by Iran's average daily production of 4.2 million barrels nets an extra $38 million in proceeds that have hit the country's coffers, or just over $2 million for each sailor captured.
Shareholders of big Western oil companies have benefited too, of course. Shares of BP are up 6.5% since March 22, leading the sector higher in tandem with oil prices. Exxon Mobil is up 3.3% and Chevron 4.5% over the same period..."
For Iranian leaders, there's certainly been a benefit for bad behavior. Thumbing their noses at the U.S. and U.N. on nukes, taking British sailors hostage and publicly declaring a wish to see Israel "wiped off the map" all succeed in creating tensions that result in rising oil prices. That means cash for Iran. Each dollar that crude oil moves up in price would yield an additional $4.2 million in revenue. Theoretically, the country could keep pushing until the U.S. or one of its allies got fed up enough to bomb its nuclear facilities.
Escalating hostilities could also result in Iran blockading the Strait of Hormuz, where 20% of the world's oil passes. If the country's control of that waterway results in $100 a barrel oil by, say, the end of May, then it would parlay the $34 million Iran has raked in to date into a cool $5 billion, possibly enough even for some type of reactor.
Is it likely? No. But, as Gheit points out, a group of hostages Iran grabbed up 28 years ago "spent 444 days as [their] guests."




This last part is chilling...he (Gheit) said it is not likely that this incident would push oil over $100 a barrel by end of May earlier this year (which it did not) , but where exactly does the price stand now? $94.16 about 40 minutes ago...and I believe that Venezuela is one of the biggest sources of US oil imports, so both of these nations profit from these prices. Mind you, these nations are predominantly oil exporters, so they really have no other major sources of revenue...they have to play this game. I think Iran pulled back on arming the insurgency a bit because oil prices seemed to have stabilized at this high price and because the US looked seriously as if it was going to attack.


I really believe these jokers are playing us as much as possible.

[sunsetjet]

They Are Next, Our Plan From The Beginning Was And Is Operation Globalization!
Omni-potent Mil. Base In Middle East = Next Step To Globalization
Somalia
Africa
Cuba
This War Is Not On Terrorist Per Say, It Is A War On Anyone Who Does Not Have The Earth In Its Best Interest!
That Is Why All The Red Winged People Are Against Us. They Need To Do What We Here In The U.s. Are Doing And Pay For The Natural Resorses And Quit Using Them Up, Have Respect For Our Mother Earth. They Dont Care About Emissions They Dont Pay For Them. We Do On The Other Hand, We Pay Dearly, With Human Blood If We Have To. They Need To See Into The Future, And Without Our Help To Make Them See, They Are So Un-civilized And So Wraped Up Into Making It Look On Paper How Their Money Looks When In Reality It Means Nothing, If The Dollar Goes Down They Go Down, Period!
I Said It Before Ill Say It Again Dollar Dinar Euro It Does Not Matter.
Operation Globalization Matters.
Take Care Of Mother Earth, She Will Take Care Of You!
Karma Credit Card Has No Dollar Amount.
If I Dont Beleive In My Own Country I Cant Expect Them To Believe In Us Either.
Hopefully They Will Get It Or Get A Bunker Buster Where The Sun Dont Shine!
Patients Persistence Resistance The Last Resort!

[stinkydinarcrazedidiot]

Good Lord, the kooks just invaded our forum!

[geowhiz]

Good Lord, the kooks just invaded our forum!


Hey, Id sit down with any kook on this forum and smoke a joint (or drink a few shots or Raicilla) with them, and we can talk about, politics, oil, religion, whatever, till the sun is coming up the next day. First on my list is JRAM. That ultra-kook needs to come back to down to Earth a little bit! :lmao: :wave:

[williambedloe]

They Are Next, Our Plan From The Beginning Was And Is Operation Globalization!
Omni-potent Mil. Base In Middle East = Next Step To Globalization
Somalia
Africa
Cuba
This War Is Not On Terrorist Per Say, It Is A War On Anyone Who Does Not Have The Earth In Its Best Interest!
That Is Why All The Red Winged People Are Against Us. They Need To Do What We Here In The U.s. Are Doing And Pay For The Natural Resorses And Quit Using Them Up, Have Respect For Our Mother Earth. They Dont Care About Emissions They Dont Pay For Them. We Do On The Other Hand, We Pay Dearly, With Human Blood If We Have To. They Need To See Into The Future, And Without Our Help To Make Them See, They Are So Un-civilized And So Wraped Up Into Making It Look On Paper How Their Money Looks When In Reality It Means Nothing, If The Dollar Goes Down They Go Down, Period!
I Said It Before Ill Say It Again Dollar Dinar Euro It Does Not Matter.
Operation Globalization Matters.
Take Care Of Mother Earth, She Will Take Care Of You!
Karma Credit Card Has No Dollar Amount.
If I Dont Beleive In My Own Country I Cant Expect Them To Believe In Us Either.
Hopefully They Will Get It Or Get A Bunker Buster Where The Sun Dont Shine!
Patients Persistence Resistance The Last Resort!


Did someone lose a hookah? I think I know who has it :lmao: :lmao:

[geowhiz]

The other kook Id love to party with is Williambedloe, but Im afraid Id have to wear a tie wherever we went, and I havent worn one in years.

[jram_00]

Hey, Id sit down with any kook on this forum and smoke a joint (or drink a few shots or Raicilla) with them, and we can talk about, politics, oil, religion, whatever, till the sun is coming up the next day. First on my list is JRAM. That ultra-kook needs to come back to down to Earth a little bit! :lmao: :wave:


Wassssuppppp Geowhiz. Hey, did you catch that vid dinarhopfull put up re Lindsey Williams and the Non-Energy Crisis??? Sort of ties in with good ol' Hugo Chavez here. I wonder if Hugo will undergo some unfortunate accident in the near future???

Anyways, I didn't know I was a kook???!!

Kook: A person regarded as strange, eccentric, or crazy.
http://www.answers.com/topic/kook?cat=technology

Wait, I guess I am.....

better yet...

WAIT, I GUESS I AM!!!!

[geowhiz]

Wassssuppppp Geowhiz. Hey, did you catch that vid dinarhopfull put up re Lindsey Williams and the Non-Energy Crisis??? Sort of ties in with good ol' Hugo Chavez here. I wonder if Hugo will undergo some unfortunate accident in the near future???

Anyways, I didn't know I was a kook???!!

Kook: A person regarded as strange, eccentric, or crazy.
http://www.answers.com/topic/kook?cat=technology

Wait, I guess I am.....

better yet...

WAIT, I GUESS I AM!!!!

Kook, okay that works for now, but actually the dinars will have to come in to be regarded as lofty a term as "eccentric". (I cant wait to be the eccentric ol, bas...d)

As far as ol' Hugo. His days are numbered.. Eventually his own people will begin to do the math (100 bucks per barrel x ~2.55 million barrels per day = 255 million dollars per day / 26 million people = ~10 dollars per day per person just from oil / poverty stricken people where per capita income is 5400 dollars per year = (Where's my money, ahole) !

But hey, you have to admit these leftist south and central American dictators have at least provided a few laughs throughout the years, right!!?? :dance:

[williambedloe]

The other kook Id love to party with is Williambedloe, but Im afraid Id have to wear a tie wherever we went, and I havent worn one in years.

Depends on where we go - if we eat at Prime at the Bellagio, you need at least a jacket, but the gentlemen's clubs aren't too picky - they do love a man with an Hermes tie though - I'll loan you one of mine - just make sure you toss it over your shoulder during the lap dances - I don't want their body glitter on my ties


(richsoon - don't read this):worried: