| Agence France Presse (AFP) is reporting from New York that world oil prices have shot to a post-Iraq war high after Venezuela "stunned the market" with a threat to cut off supplies of oil to the United States of America. New York's benchmark light sweet crude contract for delivery in April surged 70 cents to US$36.86 a barrel ... the highest since March 12, last year in the run-up to the Iraq attack. Brent North Sea crude for April leapt $1.11 to $33.34.
World prices have soared since President Hugo Chavez told hundreds of thousands of cheering supporters that he would block US access to Venezuela's oil resources if Washington moves against his government. He described US President George W. Bush as an "illegitimate leader ... if Mr. Bush is possessed with the madness of trying to blockade Venezuela, or worse for them, to invade Venezuela in response to the desperate song of his lackeys ... sadly not a drop of petroleum with come to them from Venezuela." |
Somebody's been to Texas...
(In case you haven't driven through our large state in the south, the major highway signs read "Don't Mess With Texas")
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