World must address tight oil supply: Chavez

TEGUCIGALPA, Jan 15 (Reuters) – Venezuelan President Hugo Chavez warned on Tuesday that the world’s biggest oil consumers face shrinking supplies and that Venezuela hoped to work with Brazil and Mexico to bolster the region’s reserves.

Chavez, on an official visit to Honduras a day after attending the inauguration of Alvaro Colom as Guatemala’s new president, said the developed world needed to find ways to rein in its consumption of nonrenewable fuels.


“The United States, for example, unfortunately has very little time left, very little reserves of its own oil,” Chavez said in a speech, flanked by Honduran President Manuel Zelaya.

“Other big consumer countries already have very small reserves. The United States consumes 20 million barrels of oil per day. You see the imbalance?” he said.

Reuters