Venezuelan President Hugo Chavez has threatened to cut off oil supplies to the US if it continues what he calls an economic war. “Take note Mr Bush, Mr Danger,” said Mr Chavez in his weekly televised address. “I will cut off oil supplies.”

British and US courts froze assets belonging to Venezuela’s state energy company last week. The move followed an application by US oil giant Exxon Mobil for compensation from Venezuela’s state oil company. It claims the amount offered for the nationalisation of its oil installations in Venezuela was insufficient.

Mr Chavez described Exxon’s management as imperialist bandits who form part of a US government-backed campaign to destabilise Venezuela. “I speak to the US empire, because that’s the master: continue and you will see that we won’t sent one drop of oil to the empire of the United States. The outlaws of Exxon Mobil will never again rob us.”

Hey, this idea could take off. Maybe Alaska should stop sending supplies to the lower 48 states until Exxon pays up for the Exxon Valdez spill…..