Tuesday, August 23, 2005

Can a Republican Senator Close a Deal with Venezuela Chavez?

In December of 1999 Venezuela experienced a natural tragedy that killed thousands and left millionaire loses. The country was cough off guard. Foreign help was badly needed. The US rushed to offer help but Chavez refused it. It was the first of many anti-American gestures to come like calling President Bush “jerk” or laughing at “Condolence” Rice's sexuality. If Chavez didn’t accept American help when in need, why would he take it now?

Republican Senator Arlen Specter is of other view.

He recently paid a discreet visit to the oil-rich country and met with the oil and home affairs ministers. A local newspaper quotes him expressing US interest in investing billions of dollars in the oil industry. Yes, billions of dollars.

The energy crisis is so bad that the US may be cooking a bilionaire deal with regional archrival Chavez.

But it is Chavez who calls the shots here. He owns the largest oil reserves in the hemisphere and the world is starving for oil. China, for instance has deep pockets and is oil hungry.

And let's no forget that he didn't take US help when in need.

Venezuela oil is a high risk investment. Chavez's current attitude against oil companies includes military riots and retroactive taxing.

If the US pugs the plug nothing will happen. But iff Chavez does, well, that is another story.


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