Venezuela takes a lead in preventing profiteering from shortage (oil)

[rman]

It looks like gas won't be as expensive in Venezuela as it is in the US.

Forbes
Venezuela launches Caribbean oil alliance Petrocaribe
06.30.2005, 06:53 AM
http://www.forbes.com/business/feeds/afx/2005/06/30/afx2117635.html.

PUERTO LA CRUZ, Venezuela (AFX) - Venezuelan President Hugo Chavez launched yesterday Petrocaribe, a regional oil alliance that could greatly increase Chavez's regional influence.

Chavez promised highly preferential oil pricing for the 14 Caribbean members, with Venezuela picking up 40 pct of the cost if oil is selling over 50 usd a barrel, as it is now.

If it should hit 100 usd a barrel, Chavez said, 'we would pay 50 percent for signatory countries, with a grace period extended from one to two years.'

<snip>

According to Goldman Sachs analysts, the agreements unveiled yesterday 'should not be seen from the standpoint of economic rationality, but rather from the broader perspective of Venezuela's aggressive foreign policy and attempts to increase its influence in the region'.

<snip>

Chavez yesterday slammed 'an energy crisis the world is having dumped on its head more than for any reason because of the excessive wasting of the developed north; it is irrational consumerism.'

ASPO
Venezuela takes a lead in preventing profiteering from shortage
http://www.peakoil.ie/newsletters/611

"The Petrocaribe Alliance -- signed at a one-day summit in Puerto La Cruz, Venezuela -- will supply cheaper oil to member nations. To do that, the agreement calls for the creation of a regional refinery network, overseen by Venezuela, to produce and ship oil to member nations, El Universal reported Thursday

President Hugo Chavez also pledged to pick up 40 percent of the cost of oil going to Petrocaribe countries if the price per barrel on the world market was higher than $50 a barrel as it is now.
He also said the agreement would lower costs by eliminating intermediary oil traders that inevitably lead to higher prices at the pumps. Venezuela wants to share its energy potential with South America and the Caribbean, Chavez told leaders.

Two Caribbean nations - Barbados and Trinidad and Tobago - elected not to sign the Petrocaribe agreement Wednesday saying they needed more time to study its terms."

[thereismore]

1. get your gas at 7/11 (AMOCO) whenever you can n/t

[htuttle]

3. AMOCO? Venezeula owns Citgo

For a little while yet, anyway. I thought I heard they were going to sell off the US gasoline distribution part of the company a few months ago, but I don't think it happened yet.

[julianer]

4. I think that was the refineries

either way this site is calling for a Buy-cott at Citgo:

http://www.venezuelanalysis.com/articles.php?artno=1450

[thereismore]

12. Oops, Citgo, of course. Sorry. nt

[htuttle]

2. Barbados and Trinidad/Tobago say "they need more time to study its terms"

Oh, poor foreign ministers. They're thinking:

"Damn, this is a pretty good deal,"

but then also thinking:
"Bush is going to retaliate somehow if we sign onto this..."

"Get on the phone to Washington, and see if we can talk them into letting us do this..."

It must suck to be a client state.

[rman]

5. "client state"? that's to kind

isn't it more a supplier state?

[htuttle]

6. They are like two big offshore bank vaults for the super rich...

...with really nice weather.

Except for hurricane season...

[rman]

7. ok, "bank state" it is

didn't know that, thanks.

[rfkrfk]

8. shortchanging the people of Ven., just looks like graft

I have no special knowledge about this situation, but,
with that said, it just looks fishy.

The tradition deal would be, the recipient countries
are required to make a voluntary donation to the
Chavez Foundation in the amount of half of the difference.

[rman]

9. That would be contrary to everything else Chavez is doing,

which is more along the lines of having the people of Venezuela share in the wealth.
Though it could be argued that Chavez is shortchanging the power-elites of Venezuela, but those aren't really short on anything, except that they are no longer in power.

[Commie Pinko Dirtbag]

11. And the righties complain when we speculate about stolen elections.

Sigh.

[1932]

13. The oil crisis in the early '70s was a big factor in driving countries

like Jamaica into IMF-servitude, undermining democracy and regional economic growth and power.

I think Chavez is trying to avoid that.

[Commie Pinko Dirtbag]

10. That deserves to be printed in Gothic letters, framed and hung at the wall

at the UN's General Assembly:

'An energy crisis the world is having dumped on its head more than for any reason because of the excessive wasting of the developed north; it is irrational consumerism.'

A. FUCKING. MEN.