Venezuela breaks up fuel smuggling ring, detains 9

[Judi Lynn]

Venezuela breaks up fuel smuggling ring, detains 9
The Associated Press
Posted July 30, 2011 at 2:09 p.m.

CARACAS, Venezuela — CARACAS, Venezuela (AP) - Venezuelan authorities say they have broken up a gang that smuggled subsidized diesel fuel out of the country to be sold abroad at a hefty profit.

Deputy Justice Minister Nestor Reverol says a Panamanian-flagged boat was seized as it was about to load more than 150,000 liters (39,000 gallons) of fuel from a hidden underground storage site. He says nine people are under arrest, including a Colombian and eight Venezuelans.

Reverol says the storage site in Venezuela's western Falcon state could hold up to 1 million liters (more than 260,000 gallons).

Fuel is heavily subsidized in oil-producing Venezuela and smuggling to neighboring Colombia is a problem.

http://www.vcstar.com/news/2011/jul/30/venezuela-breaks-up-fuel-smuggling-ring-detains/

[Bacchus39]

1. the gas subsidy benefits the poor with their cars right?? n/t

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