Falling Prices Squeeze Chavez's Oil Diplomacy
Deseret News (Salt Lake City) › January 07, 2009
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Summary
CARACAS -- Venezuela's slumping oil earnings are starting to squeeze President Hugo Chavez's public spending spree and curb the international aid he uses to counter U.S. influence.
State-owned Citgo Petroleum Corp., which is based in Houston and distributes Venezuelan oil in the U.S., suspended a free heating oil program for poor Americans this week, according to Citgo's nonprofit partner Citizens Energy.See the full content of this document
Extract
Falling Prices Squeeze Chavez's Oil Diplomacy
Some are now predicting a drastic pullback in Chavez's oil- fueled largesse elsewhere.
"Venezuela's oil diplomacy will retrench," said Larry Birns, director of the Washington-based Council on Hemispheric Affairs. "The government i...See the full content of this document
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