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Originally Posted by dreamofmonterey
Thanks, and then I heard that [i.e.] BP refuses to buy certain types of oil that Shell buys----so it's like price-fixing the market?
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Not sure about that. Venezuela is threatening to stop selling oil to Exxon. Not sure if this means they can fix the prices. It should mean a boost to Canada and Saudi Arabia though.
Exxon Mobil cut off from Venezuela's oil - CNN.com (http://www.cnn.com/2008/WORLD/americas/02/12/venezuela.oil.ap/index.html - broken link)
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The U.S. remains the No. 1 buyer of Venezuelan oil, and Chavez relies largely on U.S. oil money to stimulate his economy and bankroll social programs that have traditionally boosted his popularity.
Some analysts say it would make little sense for Chavez to follow through on his threats because Venezuela owns refineries in the United States that are customized to handle the South American country's heavy crude.
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