Oil Embargo?
August 19, 2005 Headlines | UK to test RFID-tagged license plates:
"TEHRAN — 'Oil is the lifeline of the West, and most of the West's military industries are dependent on it,” the Tehran Times suggested in an editorial last week. Irritated by a recent resolution by the International Atomic Energy Agency (IAEA) that called for a halt to Iran’s uranium conversion program, the newspaper suggested that oil-rich states form a united front and use oil as a tool to confront 'western neocolonialist countries.'
In Venezuela, Pres. Hugo Chavez has taken the idea a step further, threatening to halt oil exports if alleged attacks on his country continue, according to Agence France Press. Appearing last week as a witness at a symbolic “anti-imperialist court” in Caracas, Chavez said, “Washington’s molestation may cause more serious problems; our two oil tankers going to the U.S. everyday may go to another country.” He added that the “Northern America market is not compulsory for us.” Venezuela exports 1.5 million barrels of oil to the United States daily."
