10-08-04

Venezuela's energy minister guaranteed a "dependable oil supply" to the United States and maintained that the policy of the government of Hugo Chavez is to "contribute to the stability" of the world crude market. Rafael Ramirez made this statement three days after Chavez repeated a threat to cut off the 1.4 mm barrels of oil Caracas supplies daily to the United States.

"Let it be known to the US imperialists that... if they consider picking on Venezuela, not even a drop of petroleum will reach the United States," Chavez said during a meeting with oil workers.

Venezuela is the world's fifth-leading oil exporter and the No. 4 foreign supplier to the US market.
"We guarantee oil supplies" to the United States, Ramirez said when confronted about Chavez's statement.
Chavez accuses US President George W. Bush of being behind the failed coup in April 2002, which overthrew Chavez for 48 hours, something Washington flatly denies. For this reason Chavez also says Bush is the "master" of the Venezuelan opposition, which is seeking to remove the Venezuelan leader from office through a recall referendum. Ramirez added that Chavez's government "has been very clear," and its "position is not to interrupt the oil supply to the United States, because our position is to contribute to the stability" of the world crude market.

The minister, who said that Chavez will score a victory, added that "we will of course continue negotiations (with the United States) and we will continue expanding a commercial relationship that should be based on transparency and mutual respect."

"US companies are welcome here because we have a legal framework that allows the development of their activities," he said.

Source: EFE via COMTEX