Venezuela's Chavez guarantees oil supply to U.S.
CARACAS, Venezuela (AP) -- President Hugo Chavez said Sunday his
country would help the United States deal with its ongoing energy crisis
by guaranteeing a reliable supply of crude oil and increased refining
capacity.
"Venezuela is willing and capable of continuing to help the people of the
United
States with a reliable oil supply, as we have done for close to a century,"
said
Chavez, speaking during his weekly radio program "Hello President."
Chavez' statements came a day after he visited Venezuelan state-owned oil
refineries in Lake Charles, Louisiana, and Corpus Christi, Texas.
"In Corpus Christi we ratified our decision to continue increasing our
safe and
reliable oil supply to the United States," said Chavez.
Citgo, a wholly owned subsidiary of Venezuela's state-owned oil company,
Petroleos de Venezuela SA, plans to invest $200 million to increase refining
capacity by 100,000 barrels per day at its Lake Charles refinery.
Calling U.S. President Bush's new energy plan "extraordinary," Chavez added
that Venezuela is also studying the possibility of supplying the United
States with
orimulsion, a coal-like residue left over from the oil refining process
that is used
as an industrial boiler fuel.
Bush is looking for ways to increase his country's supply of energy.
Venezuela is the third largest producer of oil within the Organization
of
Petroleum Exporting Countries, or OPEC, and the largest supplier of crude
to
the United States. OPEC produces 40 percent of the world's oil.
Copyright 2001 The Associated Press.