A long-proposed sale of Citgo, the US subsidiary of Venezuela’s state oil company PDVSA, is once again making some waves. Rafael Ramírez, the powerful boss of PDVSA who is also oil minister and deputy president for the economy, said this month that a sale could go ahead “as soon as we receive a proposal that serves our interests.”
But in the US on Wednesday, Joe García, an energy savvy Democratic Congressman from Miami, urged the Obama administration to block the sale. Continue reading »
No sooner did Venezuela’s government spring a devaluation last week than critics seized on the move as an IMF-style “neoliberal” reform package, of the kind Hugo Chávez had warned the “fascist” opposition would have implemented had they won presidential elections last year.
Well, the socialist government devalued the currency anyway, as everyone knew they would, but it insists that Venezuela’s absurdly generous (some might say wasteful) petrol subsidies will not be cut – not even for citizens of the US “empire”. Continue reading »