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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: CalculatedRisk who wrote (1438)	3/7/2004 1:17:17 PM
From: mishedlo	Read Replies (1) of 116555

WayneOwl on my FOOL board talks about the situation in Venezuela ======================================================== Howdy .... I don't know if people in the U.S. ( or anywhere for that matter ) realize how serious this may be. The last stat I saw was that the U.S. imports 3.4 million bbd from there. What many don't realize is that special refineries had to built around Houston to process this goop due its special 'heavy' characteristices. Many of these refineries are incapable of simply switching to feedstock from other sources .... even if it can be produced and shipped! Venezuela's Ambassador to the U.N. has resigned and doesn't want to go home. At a recent protest, an opposition leader was shot dead. Accident? Maybe, but he was the only casualty at that particular protest. Chavez won't accept the results of the "recall" referendum. Chavez says that if the U.S. makes any overt move to depose him, he will cut off the Oil. Chavez's mentor and idol is Fidel Castro. tinyurl.com tinyurl.com Can you spell $ 50 per bbl Oil? Wayne

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