Coca-Chewing Nutcase Threatens U.S.

The gift that keeps on giving, Hugo Chavez, is back at work proving his own stupidity.

Venezuela threatens to cut US oil

Venezuelan President Hugo Chavez has threatened to cut off oil supplies to the US unless it halts what he calls its "economic war" against his country.

His warning came days after US oil giant Exxon Mobil won orders in US, UK and Dutch courts to freeze billions of dollars of Venezuelan oil assets.

Exxon wants more compensation from the Chavez government after it took control of Exxon oil projects last year.

Bottom line is Chavez confiscated Exxon assets in Venezuela, so Exxon went to the court system for redress and so far has won. So Chavez is throwing tantrums and making threats. Of course, the country most at risk from his threats is Venezuela and here's why:

The US is not only Venezuela's biggest market but is also home to refineries that specialise in the heavy sour crude oil Venezuela exports.

So Venezuela will have almost nowhere to refine it's oil without the U.S., and therefore no refined product to sell.

It is just a matter of time till Chavez destroys Venezuela entirely.