Via the BBC:

Chavez makes US oil export threat

BBC

Oil exports to the US could stop amid growing tensions between the two
countries, Venezuelan President Hugo Chavez has said. He described recent US
government actions as “aggressive” in a speech at a youth festival in Caracas.

As a result, Venezuelan oil “instead of going to the United States, could
go elsewhere,” he said.

Venezuela exports about 1.3 million barrels a day to the US and is the
world’s fifth largest oil producer.

Tensions between the two countries have escalated since President Chavez
accused the US Drug Enforcement Administration (DEA) of spying on his
government.

Washington denies the charge and has accused Caracas of failing to
co-operate in the fight against drug-trafficking.

On Friday the Venezuelan government withdrew diplomatic immunity from DEA
agents working in the country in response to a US decision to revoke the visas
of six Venezuelan officials based in Washington.

Venezuela is an important transport route for cocaine from neighbouring
Colombia, which produces 80% of the world’s supply.

With our delicate oil situation right now plaguing the nation’s wallet, you
can be certain this will lead to a definite hit on our economy. Perhaps Bush
will not rule out use of force against Venezuela.