U.S. senator asks for review of contingency plans in case Venezuela’s oil output drops

A U.S. senator has asked the U.S. Government Accountability Office to review contingency plans in the event of a drop in Venezuelan oil production, the senator’s press secretary said Jan. 13.

“We must make sure that all contingencies are in place to mitigate the effects of a significant shortfall of Venezuelan oil production,” stated the letter by Republican Richard Lugar, which was sent in November. A copy of the letter appeared in Venezuelan daily El Universal Jan. 13.

Lugar said a drastic reduction in Venezuelan oil output “could have serious consequences for our nation’s security and for the consumer at the pump.”

Andy Fisher, Lugar’s press secretary, said the U.S. Government Accountability Office has received the letter and is currently putting together a team to study the issue.

In the letter, Lugar said the U.S. continues to rely heavily on Venezuelan oil despite warnings from the State Department that Venezuela, the world’s fifth largest oil exporter, has ceased to be a trusted fuel supplier.

“The State Department has stated at various times that Venezuela has stopped being a trustworthy source of imported energy,” the letter said. “Nevertheless, we continue to rely on imports from Venezuela to meet approximately 15 percent of U.S. oil supply.”

The senator said Venezuela was no longer a trustworthy supplier due to “political instability” over the last two years in the oil-rich South American nation.