Monday, August 15, 2005

The oil in Venezuela

A couple years ago there was an attempted Coup in Venezuela. It appeared to be backed by the U.S. but that's not entirely clear (assumbably the U.S. secret agents did a decent job of covering their tracks).

More recently Hugo Chavez, the President of Venezuela, has been repeatedly warning of U.S. aggression against Venezuela. He's been giving special military training to the populace, telling them the U.S. was planning to invade. He kicked out DEA agents working on Cocaine smuggling, saying they were spying on Venezuela preparing for the invasion. etc.

Chavez makes US oil export threat (August 15, 2005; BBC.CO.UK)

In this article he's threatening to cut off oil exports to the U.S.

At the same time I see this: Venezuela-Shell tax row heats up (August 15, 2005; BBC.CO.UK)

Current left-wing leader Hugo Chavez is seeking a greater hold over the oil industry, claiming that in the past, the country did not see enough benefit from its proceeds.

As a result, 22 oil companies - including Chevron, BP and Total - are now under investigation.

Venezuela, a member of the oil producers' cartel Opec, is the world's fifth-largest oil exporter.