The information technology company, which was jointly owned, by PDVSA and the U.S.-based Science Applications International Corporation (SAIC) was apprehended by the Venezuelan military during the national strike in December 2002.
Chavez said his government may sell eight U.S. refineries as part of a strategy by the world's fifth-largest supplier of oil to reduce dependency on sales to the U.S."
Venezuela's Chavez Considers Sale of Refineries)
His attitude towards the press is not only condescending but he has also curtailed its freedom. He has coerced the T.V channels and radio stations into broadcasting his speeches without leaving fair time for the opponents.
He has his eyes set on the upcoming elections of 2006 and has taken it upon himself to ensure that his position remains secure as the president of Venezuela. In order to gain the sympathies of the poor people of Venezuela who constitute about 80% of its population "Chavez has allocated $1.6 billion to $3.7 billion worth of state oil income which would be spent on the poor voters during the campaign."(Anonymous)
In order to enforce his 2001 Hydrocarbon law he altered the 60-year-old agreement with the foreign oil companies, increased royalties and enforced heavy taxes.
Venezuela has not been the one to benefit from his decision to cripple the PDVSA under the pretext of providing the poor with the investment meant for expanding PDVSA and maximizing revenues by boosting export volumes. Saudi Arabia and Russia have benefited...
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Regional Geography Why could Africa be considered on of the richest continents on Earth? Discuss some of sub-Saharan Africa's Assets. Then address why, despite these facts, the majority of African states remain poor. Be sure to include several factors relation to this region's unique physical geography, complex human geography, history. The spectrum of environments which exist in Africa spans entire moisture and temperature gradients, from perhaps the most arid to among
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