By Phaedra Friend Troy
Venezuelan President Hugo Chavez is threatening to cut oil supplies to the United States over a dispute with its South American neighbor Colombia.
On Sunday, Chavez said that Venezuela would stop exporting oil to the US in case of a military attack by Colombia, reported various media sources.
Because Colombia has claimed that Venezuela is harboring Colombian rebels, Chavez broke diplomatic relations with its neighboring country last week.
Colombia and its President Alvaro Uribe are close allies to the US, and President Chavez claims that the US is behind the dispute.
“If there was any armed aggression against Venezuela from Colombian territory or from anywhere else, promoted by the Yankee empire, we would suspend oil shipments to the United States, even if we have to eat stones here,” Chavez reportedly said.
To fund extensive social programs, Venezuela depends primarily on oil production and export from its heavy oil haven in the Orinoco Belt.
“We would not send a drop more to the US refineries,” Chavez added.
In the past, Chavez has made numerous threats to stop exporting oil to the US, never following through with his claims.
Venezuelan Oil Minister Rafael Ramirez reported that the oil industry in the country is on “yellow alert” in preparation to stop exporting oil to the US.
“That’s the first step,” Ramirez said. “We are ready to suspend the shipment of oil and products to the United States if we suffer some type of military aggression.”
An OPEC member, Venezuela currently serves as a major supplier of oil to the US, although other countries could soon replace Venezuela in that role. With massively increasing reserves in its pre-salt and post-salt offshore basins, Brazil may very well become the leader in oil exports for the Western Hemisphere.