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Venezuela to sell cut-price heating oil to U.S. poor

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posted on Aug, 30 2005 @ 09:45 AM
Venezuela's President Hugo Chavez has stated that he will provide heating oil to America's poor after holding talks with Rev. Jesse Jackson. The details are still being worked out, but Chavez stated that Venezuela will be directing as much as 10 percent of production from Citgo, a unit of the Venezuela state oil firm PDVSA

CARACAS, Venezuela (Reuters) - Venezuela's President Hugo Chavez said on Monday his government plans to sell as much as 66,000 barrels per day of heating fuel from its U.S. Citgo refinery to poor communities in the United States.

The offer, made after populist Chavez held talks with U.S. civil rights activist Rev. Jesse Jackson, would represent 10 percent of the 660,000 bpd of refined products processed by Citgo. The deals would cut consumer costs by direct sales.

Venezuela's Energy Minister Rafael Ramirez said officials were still working on the details on how the oil would be sold from Citgo, a unit of the state oil firm PDVSA.

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It looks like Venezuela's President Hugo Chavez is going to go through with his statement that his country will provide lower cost oil to the U.S. It appears that Chavez is taking full advantage of the controversy stirred up by Rev. Pat Robertson. This may make the current U.S. administration appear unable to deal with the current oil crunch. This action by Venezuela's President may help in spurring the U.S. Government into tackling the current oil situation head on and start working towards practical solutions.

[edit on 10-9-2005 by DJDOHBOY]

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