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Chavez to Tie up Oil Deal in Caribbean

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posted on Sep, 7 2005 @ 04:06 AM
President Hugo Chavez from Venezuela is meeting officials from 13 Caribbean countries to agree terms for the Petrocaribe initiative. The initiative will aim to reduce the current price Caribbean nations pay for oil imports and include: the Bahamas, Cuba, Domincan Republic, Grenada and Belize among others. Venezuela, the world's fifth largest oil supplier, will discuss trading cheap oil for energy sources. But Chavez has made it clear that all new business between Venezuela and the Caribbean countries must be done by the governments themselves rather than by private companies.
Venezuela's President Hugo Chavez is meeting officials from 13 Caribbean nations to agree terms for supplying them with cheap oil.

The talks in Montego Bay, Jamaica, will put the finishing touches to Mr Chavez's Petrocaribe initiative, which was launched in June.

Venezuela is the world's fifth largest oil exporter, producing 3.1 million barrels a day.

Please visit the link provided for the complete story.

Hugo Chavez is putting his oil where his mouth is. Already in agreements with Cuba and Jamaica, he is poised to take on the Caribbean one country at a time.

This initiative will largely help the poorer countries obtain oil at a cheaper price and also keep the corporations from keeping the profits for themselves. His trade agreement is clear that he aims to work with governments themselves rather than individuals or oil companies.

Another remarkable move from Chavez.

[edit on 7-9-2005 by nikelbee]

[edit on 7-9-2005 by nikelbee]

[edit on 7-9-2005 by nikelbee]

[edit on 9-9-2005 by asala]

posted on Sep, 7 2005 @ 05:03 AM
Is Latin American becoming the New Iraq? The US has Tried (and failed) to Silence Chavez. But is Chavez proving too much for the US?

Roger Pardo-Maurer, Defense Secretary Donald Rumsfeld's top advisor on Latin America, in July told the Heritage Institute, a conservative think tank, that Cuba and Venezuela had a deliberate plan to make Bolivia a ``Marxist, radical, anti-U.S., pro-Cuba, drug-production state.''

Rumsfeld said last month that Cuba and Venezuela have been involved in Bolivia ``in unhelpful ways.''

Bush administration officials have said Venezuela provided cash and other assistance to radical groups. But the administration has declined to go into details, citing concerns that doing so would reveal intelligence-gathering sources.

The result is that U.S. statements have sounded mostly empty, analysts said.

Chávez has dismissed most U.S. allegations against his government as lies or intrusions into the sovereign affairs of a state. He has also gone on the offensive.

He dismisses Bush's push for free trade in the hemisphere as a self-serving ''neo-liberal'' ploy to further impoverish Latin Americans. He has increased his influence in the region by spending hundreds of millions of dollars on bonds from Ecuador and Argentina, and has offered cheap oil to Caribbean nations.

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