CARACAS, Aug. 5 (Xinhuanet) -- Venezuelan President Hugo Chavez on Friday rejected the accusation by the United States that the South American country utilizes its oil wealth to destabilize neighboring countries.

    "Let the US present evidence for this affirmation," said Chavez, through a communique released by the press.

    According to the US Undersecretary for Legislative Affairs Matthew Reynolds, the United States has evidence that Venezuela, the biggest petroleum exporter of Latin America, finances rebel movements in Bolivia, Ecuador and other countries of the region.

    Venezuela and the United States have been in tense relations since Chavez took Office in 1999. Chavez has said the United States tries to oust him.

    At a military ceremony last Tuesday, Chavez said his new socialism is an alternative to the failed US foreign and commercial policy.

    "They (the United States) consider us a danger, yet they are dangerous and of that we have enough evidence. They said they have their own evidence, but they do not show it," said the Venezuelan president. Enditem