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BG News Home Skip to Main Content Skip to Navigation College Publisher Network Join the College Publisher Network Advertise Across the Network View Network Affiliates Select your search method Search Search This Paper Search Google Music Jobs Top National College News Money Books The BG News Contact: Editors, Staff | Submit a Letter to the Editor | Login Browse Archives | Advanced Search | Home > World Venezuela may cut oil to U.S. Ongoing Exxon Mobil battle threatens American oil supply By: THE ASSOCIATED PRESS Issue date: 2/11/08 Section: World PrintEmail Page 1 of 1 CARACAS, Venezuela - President Hugo Chavez yesterday threatened to cut off oil sales to the United States in an "economic war" if Exxon Mobil Corp. wins court judgments to seize billions of dollars in Venezuelan assets.Exxon Mobil has gone after the assets of state oil company Petroleos de Venezuela SA in U.S., British and Dutch courts as it challenges the nationalization of a multibillion dollar oil project by Chavez's government.A British court has issued an injunction "freezing" as much as $12 billion in assets."If you end up freezing [Venezuelan assets] and it harms us, we're going to harm you," Chavez said during his weekly radio and television program, "Hello, President." "Do you know how? We aren't going to send oil to the United States. Take note, Mr. Bush, Mr. Danger."Chavez has repeatedly threatened to cut off oil shipments to the United States - despite the fact that the U.S. is Venezuela's No. 1 client - if Washington tries to oust him. Chavez's warnings yesterday appeared to extend that threat to attempts by oil companies to challenge his government's nationalization drive through lawsuits."I speak to the U.S. empire, because that's the master: Continue and you will see that we won't sent one drop of oil to the empire of the United States," Chavez said yesterday."The outlaws of Exxon Mobil will never again rob us," Chavez said, accusing the Irving, Texas-based oil company of acting in concert with Washington.Exxon Mobil spokeswoman Margaret Ross said the company had no comment about the issue.A U.S. Embassy spokeswoman in Caracas did not return a call.Venezuela accounted for about 12 percent of U.S. crude oil imports in November, the latest figures available from the U.S. Energy Department. The 1.23 million barrels a day from Venezuela makes that country the U.S.'s fourth-biggest oil importer.Venezuela comes in behind Canada, Saudi Arabia and Mexico in terms of the amount of oil supplied to the U.S.Venezuelan Oil Minister Rafael Ramirez has argued that court orders won by Exxon Mobil have "no effect" on the state oil company PDVSA.He said they are merely "transitory measures" while Venezuela presents its case in courts in New York and London.Exxon Mobil is also taking its claims to international arbitration, disputing the terms it was granted under Chavez's nationalization last year of four heavy oil projects in the Orinoco River basin.The basin is one of the world's richest oil deposits.Other major oil companies including U.S.-based Chevron Corp., France's Total, Britain's BP PLC, and Norway's StatoilHydro ASA have negotiated deals with Venezuela to continue on as minority partners in the Orinoco oil project. 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