On Sunday July 14th, while Americans were lined up to pay more than $4.00 a gallon for gas, Venezuela President Hugo Chavez threatened the United States that he could drive oil prices to $300 a barrel, twice what is paid now.

Hugo Chavez’ threats comes at a time—when Americans are watching their home equities disappear, their banks fail and their jobs cease to exist. Chavez appears to get off threatening Americans when they are down.

Earlier this year, Chavez threatened the U.S. Government stating he might cut off Venezuela oil to America; then stated he could get other oil producing countries to join him.
Chavez last year nationalized, took over several U.S. oil companies in Venezuela. EXXON was able to get a temporary court order freezing some of Venezuelan assets found outside of Venezuela to pay EXXON what the oil company may have believed was fair value for its nationalized assets.

Subsequently a London court overturned EXXON’S temporary asset freeze. Despite the celebrated release of Venezuela’s assets, Chavez on July 14th made it a point to threaten the economic security of the United States. Chavez effectively stated during a televised meeting that if Venezuela assets are again frozen, there will be no more oil for the United States and the price will go to $300 per barrel.

Can you envision U.S. Citizens paying double the current price for gas?

Hugo Chavez is not limited to using oil when it comes to hurting Americans. Last week after the Columbian FARC Terrorist Organization released three American hostages a FARC laptop computer was recovered that allegedly reveal Hugo Chavez has ties to FARC terrorists. FARC stands for “Revolutionary Armed Forces of Colombia.” FARC terrorists in Columbia have maimed and slaughtered countless civilians, kidnapped hundreds of people and continue to charge South American drug traffickers protection premiums to transport cocaine that enters the U.S.

Can this be stopped? Hugo Chavez is using his control over Venezuelan oil and his association with other oil producing countries to threaten the economic security of the United States. Oil is the life-blood of America. With out affordable oil, America will die.

Should Hugo Chavez be considered an "Economic Terrorist Threat" to the United States? Chavez controls Venezuela, the world’s eighth largest exporter of oil.