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Headlines : InternationalVenezuela: turning off the taps to US
Chavez has sought strategic allies in Iran and China in the past, and now he is pursuing cooperation with India. South American countries developing closer and closer economic and political ties with Asia may be a sign that the region is slipping out of the US sphere of influence.
[Posted By bacchus]Republished from rigazone.com
Venezuela’s state owned oil company PDVSA has inked a key deal with India, taking the first key step away from the U.S. as its major oil buyer.
At the same time, PDVSA has announced that it will no longer reveal oil statistics to the SEC after paying off its debts.
The India deal and the refusal to disclose information are not just strategic, but also send a message to the US about Venezuela’s future plans with regard to supplying the US with oil.
No More Disclosure
According to the BBC: “Venezuela’s state oil firm has said it will no longer disclose information to US financial regulators after paying off debts in the US. PDVSA said it was no longer obliged to be regulated by the Securities & Exchange Commission (SEC) after buying up $83 million in US-traded bonds.”
At the same time Venezuela has begun to ship two million barrels of oil to India per month, making use of India’s heavy crude refineries, for which Venezuela’s sulfur laden oil is no problem.
According to Stratfor.com: “While the new deal with India is relatively small, given that Venezuela produces more than 2 million barrels of oil in a single day…
Posted by bacchus
Born in Nysa (in present day Turkey), raised by nymphs and satyrs. Son of Zeus and a mortal named Semele. Youngest of the Olympian gods. Patron god of vines, fruit trees, gardens, agriculture and fertility. Patron god of the stage (the happy and scowling...
I’m sure the 6,500 troops on a big ship that Bush sent to the Caribbean earlier this month assisted in the decision making process.
But India’s wealth is build on US Consumer Debt (and job loss) – so I wouldn’t go so far as to say it was a sustainable income stream just yet.
But it is most definitely a very clear message.
Hugo also said that if the US MIC attacks Venezuela he will destroy all of Venezuela’s Oil Fields.
I’d hate to see it come to that, although I would rather see it burn than see it stolen from the Venezuelan people so that we can have cheap oil again. (Do you happen to have a link to that Chavez quote, ubiquity?) I know I’ll be refueling at Citgo as long as they’re still in business. Viva la revolucion bolivariana!