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Hugo Chavez's State-run Energy Company Affects U.S. Oil Supply

Venezuelan President Hugo Chavez recently claimed that "oil is going straight to $100 (per barrel). No one can stop it." We know that Venezuela and the U.S. are not exactly diplomatically-friendly wit

Hugo Chavez's State-run Energy Company Affects U.S. Oil Supply

Alison St John (Guest Host): We all know the price of gas is connected to the price of oil and the price of oil is connected to supply and demand. So the news that Venezuela is having problems is bound to be of some significance. Venezuela is the U.S.'s forth biggest oil supplier after Canada, Saudi Arabia and Mexico, providing over a million barrels per day. But political events in Venezuela are having a significant effect on that supply.

Guest

  • Dr. David R. Mares , adjunct professor of International Relations-Political Science at UCSD, and an expert on Latin American energy issues.