Chavez Threat Underscores Energy Security Imperative

'Hugo Chavez's threats once again emphasize the precarious nature of our energy security,' Robbie Diamond, SAFE's Founder and President, said. 'Last year, ten percent of our oil imports came from Venezuela, the sixth-largest oil exporter in the world. With global spare oil production capacity as narrow as it is, any threat by a major supplier has the potential for causing immediate and significant fluctuations in the price of oil worldwide, with tremendous economic implications for the United States.