Venezuela's Chavez: No Plans to Cut Oil Exports to U.S.

Venezuelan President Hugo Chavez said Tuesday during an official visit to Honduras that his country will leave oil exports to the U.S. untouched.

"We have no plans to stop exporting oil to the United States," Chavez said during a press conference from Honduras televised by a Venezuelan state television channel.

Chavez also blamed high energy consumption in the U.S. for the latest surge in oil prices. The president didn't offer more details on Venezuela's oil exports.

Chavez, a frequent critic of Washington, was in Honduras to meet with President Manuel Zelaya and discuss Petrocaribe, a Venezuelan oil initiative that furnishes small nations with crude shipments at preferential prices and with a payment plan.

The Venezuelan president has repeatedly threatened to cut off oil shipments to the U.S., as he has accused it of interfering in Venezuelan politics and trying to destabilize his government.

Copyright (c) 2008 Dow Jones & Company, Inc.


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