Yep we are all sick & tired of hearing about it

  charmingman 00:36 20 Jun 2008

Yep me too i am sick to the death of it all Prices going sky high, this has just come in & if it happens my prediction is Sky high petrol!!

click here

  Forum Editor 07:29 20 Jun 2008

is hardly the man to talk about personal freedom, running - as he does - one of the most corrupt and oppressive administrations on the planet. Venezuela has a great deal of oil, but one of the highest inflation rates in the world -currently running at around 30%, and Cavez is well-known for making these ludicrous threats about terminating oil supplies - he regularly threatens the US in this way.

My prediction is that someone in his administration will try to inject some commonsense into his head, but there's no telling with people like this. Constitutionally Chavez cannot remain in power after 2012, but he's doing his best to manipulate the system so he can hang on indefinitely. He's hardly Mr. Popular in Venezuela, the people know that the country's economy is being essentially propped up by oil revenues, and that below the surface the picture is far from rosy. If the electorate has anything to do with it Chavez will be history at the next elections.

  natdoor 09:23 20 Jun 2008

Presumably Venezuela would still wish to sell its oil, even if it refused to allow it to be sent to European countries. With the same amount of oil available on the world market, it should be possible for Europe to obtain oil, although there might be some transport problems.

  Cymro. 11:12 20 Jun 2008

The Venezuelan President will play a part in the up`s and down`s of the international oil market, but all in all his will only be a small part as there are other people in other countries that have a larger part to play.

  peter99co 11:55 20 Jun 2008

You need to check about the raid on the offshore oil field in Nigeria. It has closed down.

  peter99co 20:31 20 Jun 2008

Spending Spree!

click here

  Arthur Scrimshaw 22:13 20 Jun 2008

I bet the Republican's are planning their next 'liberation of an oppressive regime'(if they stay in power)

  Forum Editor 23:54 20 Jun 2008

I wouldn't underestimate the importance of Venezuela in terms of its influence on world oil markets - Venezuela is the fifth largest producer in the world, and if its estimate of proven reserves is correct it will be the second largest controller of oil reserves on the planet - only Saudi Arabia will have bigger reserves.

Venezuela is a world-class power player as far as oil is concerned, which is why it's important for all of us that the country has a stable government which is Europe-friendly.

  Cymro. 08:36 21 Jun 2008

Thanks for that, I never would have thought.
With all this business going on in the middle east is is all too easy to disregard other oil producers.

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