President Hugo Chavez of Venezuela uses his nation's massive amount of oil to undercut U.S. influence in the region. He offers cheap oil to many poor nations, in exchange for his hand in matters. Oil is not just a Middle East issue, but Latin America is coming to play a key role as well. Bloomberg has the latest on this issue:
"Chavez's Cheap Oil Gives Him Sway Over U.S. Allies, Aid Funds"
By Matthew Walter
Oct. 6 (Bloomberg) -- President Hugo Chavez has figured out how to use Venezuela's vast oil reserves to increase his regional influence while diminishing U.S. clout: He all but gives it away.
The self-proclaimed socialist revolutionary is allowing impoverished U.S. allies such as Honduras and the Dominican Republic to buy discounted oil with low-interest loans. Then he rebates the revenue back to those countries in the form of aid - - attached to strings he controls.
Venezuela's oil wealth gives it ``much more capacity for an aggressive foreign policy,'' says Jose Manuel Puente, a professor at the Center for Public Policy at the Instituto de Estudios Superiores de Administracion in Caracas. ``You can cultivate and multiply your revolution, and you can create more friction with the U.S.''
Read Full Article Bloomberg.com
Posted by Phoenix SUV Rollover Accident Lawyer
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment