Chavez Directs Another Threat At ExxonMobil

Law360, New York (July 14, 2008, 12:00 AM EDT) -- Venezuelan President Hugo Chavez has once again threatened to stop exporting oil to the United States if Exxon Mobil Corp. succeeds in freezing the assets of state-run oil company Petroleos de Venezuela SA.

“If they freeze us, there's no more oil for the United States, and the price of crude will go to $300 a barrel,” Chavez said Sunday at a Petrocaribe summit, according to Dow Jones.

Petrocaribe is a recently formed Caribbean oil alliance. Its members — including Belize, Cuba, Nicaragua and the Dominican Republic...
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