The REAL reason oil prices are taking off? If it happens, We'll see $40 by next week. I wonder if CNBC will make the connection?
3/1 13:11 Venezuelan Oil Unions Call for Strike as Contract Talks Stall
By Peter Wilson and Alex Kennedy
Caracas, March 1 (Bloomberg) -- Venezuela's three oil unions
said they could go on an indefinite strike within hours after
state oil company Petroleos de Venezuela SA refused to resume
stalled contract talks.
More than 40,000 oil workers could strike, crippling
production and possibly halting oil shipments to the U.S., union
officials said. If a strike is called, union leaders said they
wouldn't allow tankers to leave the country's ports. Venezuela is
one of the largest suppliers of crude to the U.S.
``We aren't surprised by the attitude of PDVSA,' said Carlos
Ortega, president of Fedepetrol, the country's largest oil union.
A strike is by no means a certainty. The nation's largest oil
worker union, Fedepetrol, threatened to strike eight times last
year, carrying out two 24-hour work stoppages, without
jeopardizing exports.
Government officials also pleaded for time, especially as
President Hugo Chavez is outside the country and won't return
until tomorrow.
The strike call followed PDVSA's refusal to sign on to a pact
between the government and oil unions to restart stalled contract
talks. |
