Chavez threatens to stop oil sales to EU, EU says he "misunderstood"

News Type: Opinion — Fri Jun 20, 2008 3:17 PM EDT

world-news, eu, oil, immigration, venezuela, european-union, cuba, bolivia, ecuador

Chavez talks tough

Yesterday Hugo Chavez threatened to stop selling oil to European countries if they apply a new ruling on illegal immigrants:

European Union lawmakers ruled on Wednesday that illegal immigrants can be detained for up to 18 months and face a reentry ban of up to five years.

According to the BBC, the law, which could come into force in 2010,

will oblige EU members to choose between issuing residency permits to the estimated half a million illegal immigrants who enter each year, or returning them to their country of origin.

In addition to threatening to stop oil sales, Chavez, who has nationalized several industries in Venezuela, also threatened to expel EU businesses out of the country, warning he would draw up a list of their businesses.

It didn't take long for Bolivia and Ecuador to echo Chavez's words. Both countries are closely aligned with Chavez.

In Bolivia, Evo Morales (h/t the Baron) called for Africa and Latin America to mobilize against the EU directive. Ecuador's Rafael Correa called for "a joint response by Latin American countries."

Paraguay', Fernando Lugo, whose electoral campaign was subsidized by Chavez, also joined the trio.

Hearing that their oil supply might be reduced, the EU says Chavez misunderstood the new migration law. Spain's Rodriguez Zapatero volunteered to explain the new law.

With all his tough talk, Chavez might have fuelled the growing rift between Venezuela and other Opec oil-producing nations.

We'll see if Zapatero will help him explain that, too.

Monica Showalter of Investors' Business Daily, Siggy of Sigmund, Carl and Alfred and I discussed Chavez's move. You can listen to the podcast here.

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1.5

{"commentId":2014073,"authorDomain":"bhdonovan"}

Beth Donovan

Heh. We need to start drilling offshore and in Anwar, so Chavez will no longer have this power over the West.

He is a nuisance to the world.

{"commentId":2014073,"threadId":"295031","contentId":"1595306","authorDomain":"bhdonovan"}

2 votes

#1 - Fri Jun 20, 2008 5:00 PM EDT

{"commentId":2016830,"authorDomain":"riede2084"}

Winrich Al Riede

Chavez along with Iran and Iraq are to be commended for not being bullied into buying oil in American dollars and for buying the American debt. It won't be long before the sword rattling towards Iran gets louder. The World Bank needs a war in Iran in order to keep America afloat.

Open your eyes people, the fat lady is singing "America the Beautiful."

{"commentId":2016830,"threadId":"295031","contentId":"1595306","authorDomain":"riede2084"}

1 vote

#2 - Sat Jun 21, 2008 3:01 AM EDT

{"commentId":2019787,"authorDomain":"ForestBrowne"}

Forest Browne

Come on Beth, drilling offshore and throughout the whole of ANWAR will do nothing to affect the price your paying today. Further if congress ok'd the drilling it wouldn't have ANY effect for 7 to ten years and best case would effect the market price per barrel by less than 1%.

So for all of those risky environmental drillings we get essentially five cents off of a gallon best case. Although we have let Bush garner another windfall for his oil buddies.

Forest

{"commentId":2019787,"threadId":"295031","contentId":"1595306","authorDomain":"ForestBrowne"}

1 vote

#3 - Sat Jun 21, 2008 6:06 PM EDT

{"commentId":2028442,"authorDomain":"spikegary"}

Spikegary

Once again, how does this come back to America-bashing? This is a story about a decision made by the EU that Venezeula doesn't like-and it's the U.S.' fault? Maybe it's time to start taking a look inward instead of automatically blaming the U.S. for everything.

{"commentId":2028442,"threadId":"295031","contentId":"1595306","authorDomain":"spikegary"}

1 vote

#4 - Mon Jun 23, 2008 9:05 AM EDT

{"commentId":2039987,"authorDomain":"ForestBrowne"}

Forest Browne

Pray tell what your comment has to do with this article?

We shouldn't bash US policy? Because you say so or perhaps you think we shouldn't examine what the most powerful country in the world does along with it's erstwhile allies.

Forest

{"commentId":2039987,"threadId":"295031","contentId":"1595306","authorDomain":"ForestBrowne"}

1 vote

#4.1 - Tue Jun 24, 2008 1:18 PM EDT

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FAUSTA

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Chavez threatens to stop oil sales to EU, EU says he "misunderstood"

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