Battle over Venezuela's oil industry heats up |
| San Francisco Chronicle - May 2, 2007 |
The tug of war between international oil companies and Venezuelan President Hugo Chavez intensified Tuesday, as his leftist government took over the nation's last privately run oil fields.
The carefully choreographed symbolism of Tuesday's ceremony in Jose, an oil complex in eastern Venezuela, invoked high historical drama. Revolutionary flags flew over refinery stacks as newly bought, Russian-made fighter jets streaked through the sky, while Chavez shouted "Down with the U.S. empire!" to thousands of red-clad oil workers.
"The nationalization of Venezuela's oil is now for real," added Chavez, who called the state takeover a historic victory for his socialist revolution after years of U.S.-backed corporate control.
Read Full Article from San Francisco Chronicle
- Posted: 2007-05-02 09:36:36
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