Chavez is backing off his threats to cut oil sales to America that we recently told you about. According to Bloomberg, Venezuelan President Hugo Chavez said on state television that, "We don't have plans to stop sending oil to the U.S. ... All I've said is that, if the U.S. attacks us, we'll have to decide not to send one drop of oil to the U.S." False alarm everyone, back to using gas. Chavez meant if we attacked him, he would stop oil shipments ... which would make sense.
Every day, the U.S. imports roughly 1,150,000 to 1,200,000 barrels of oil from Venezuela. Venezuela is America's fourth-largest source of oil. Thanks to a legal tussle concerning Exxon Mobil and the country of Venezuela, Venezuelan president Hugo Chavez has threatened to stop exporting those barrels to America in an "economic war," according to the AP.