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venezuela-chavez


Chavez might stop selling oil to the U.S.

Every day, the U.S. imports roughly 1,150,000 to 1,200,000 barrels of oil from Venezuela. Venezuela is America's fourth-largest source of oil. Thanks to a legal tussle concerning Exxon Mobil and the country of Venezuela, Venezuelan president Hugo Chavez has threatened to stop exporting those barrels to America in an "economic war," according to the AP. Here's what's happening: Exxon Mobil is trying to fend off the nationalization of a huge (i.e, multibillion dollar) oil project. The company is doing this by asking courts in the U.S., the UK ... Read more →

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