Oil and the children of Bolivar

Now here's a story that hasn't been given much air time in English language media....yet.

But that might just change....soon

And become...very big.

It all depends...on Hugo (cue bwahahahah laughing sounds and spooky music).

Go to Setty's Notebook here and here to get a concise and nice rundown of the sanctions imposed today on Venezuela by the USA. For sure they're not very strong sanctions but, as Setty rightly says, "Basically, weak sanctions. But still, US sanctions on Venezuela. Expect fireworks."

And indeed, it sure looks like Hugo & Co. aren't going to take this lying down. Oil Minister Rafael Ramirez is appearing on live TV right now and he's already said that although Venezuela won't cut oil supplies to Citgo, it may cut sales to other outlets in the USA. And as for Hugo himself, here's a link to the tweet he put out less than an hour ago (as your humble scribe writes), the translation of which is:

 "Sanctions against Bolivar's Fatherland? Imposed by the imperialist gringo government? 

Well, they're welcome, Mr. Obama! Don't forget that we are the children of Bolivar!"

We've had the right wing in the US calling for sanctions against Venezuela for the longest time and Dubya never took the bait. But here we are with the USA under a CommieLefty President and the far right have got what they wanted all this time. Meanwhile, your author has that old refrain going round his head of "Careful what you wish for....."

UPDATE: This just out of the Venezuelan Embassy  in the USA

Statement

Venezuela Rejects U.S. Sanctions Against PDVSA

Published: 05/24/2011 

The Government of the Bolivarian Republic of Venezuela has learned of the decision announced by the Department of State of the United States  to impose sanctions against our oil national company, Petróleos de Venezuela (PDVSA), as part of a unilateral law targeting the Islamic Republic of Iran known as CISADA.

The Bolivarian Government expresses its strongest rejection to this decision since it constitutes a hostile action on the fringes of international law that violates the principles of the Charter of the United Nations.

The Bolivarian Republic of Venezuela and its revolution have a strong, independent and sovereign oil industry able to operate and permanently fulfill its commitments. Faced with this aggression, Venezuela further ratifies its oil independence and sovereignty.

The Government of the Bolivarian Republic of Venezuela is undertaking a general assessment of the situation to determine how these sanctions affect the operational capacity of our oil industry and, therefore, the supply of 1.2 million barrels of oil per day to the U.S.  Pending this assessment, the Bolivarian Republic of Venezuela reserves itself the most adequate answer to this imperialist aggression.

The revolutionary Government calls on all the Venezuelan people, laborers and especially the oil workers, to stay alert and mobilized in defense of our PDVSA and the sacred sovereignty of the homeland.

Caracas, May 24, 2011

Ministry of People’s Power for Foreign Affairs