Chavez wants to up the stakes

He takes over the oil structure that Exxon created. He tries not to pay what they can agree to (which he calls negotiation).

So Exxon demands arbitration and freezes PDVSA assets in the free world pending the outcome. I wonder why they don't trust someone who said when he was elected that he was not a socialist and that Cuba was a dictatorship.

Now he says he'll cut off oil shipments to all of the U. S. Can't seem to get his head around the idea that Exxon is not the U. S. and the U. S. is not Exxon. We haven't followed his lead to declare that everything belongs to the government.

Now we will see how long he can actually survive without a major portion of his only revenue source since most of the refineries outside of Venezuela, capable of refining Venezuelan crude are in the U. S.