Venezuela

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Cheap Oil Keeps World Economy Off Balance
Cheap Oil Keeps World Economy Off Balance
ANALYSIS
Feb 20, 2009 5:18 AM CST

Cheap Oil Keeps World Economy Off Balance

With crude under $40, investment dries up, nations lose revenue

(Newser) - Oil surged 13% yesterday in New York trading—and still closed at less than $40 a barrel, reports the Washington Post. Cheap oil has been a boon for consumers in the recession, but the collapse in crude prices has contributed to further havoc in international markets from Canada to Kuwait....

Venezuela Seizes Stanford Bank, Calls It Healthy

Country provided up to 30% of group's funds

(Newser) - Venezuela has taken control of a bank run by alleged fraudster R. Allen Stanford and his Stanford International Group, the New York Times reports. A banking regulator said the retail bank is essentially healthy, but Venezuelans are still fretting. “When Venezuelan forces say nothing is wrong,” explained one...

Chavez Wins Referendum to Stay in Power

(Newser) - Venezuela's President Hugo Chavez won a key referendum today that will keep him in office for as long as he wins elections, Reuters reports. After years of debate, Chavez supporters voted to abolish term limits that would have ended his rule in 2013. The reported margin of victory, 54% to...

Bye, Bye, Petro-Czars
 Bye, Bye, Petro-Czars 
ANALYSIS
Feb 15, 2009 6:02 PM CST

Bye, Bye, Petro-Czars

The power of petro-czars has slumped as oil prices have fallen

(Newser) - There is one silver lining to the global recession: The economic and political fortunes of America’s oil-rich antagonists have been tarnished, Rana Foroohar writes in Newsweek. Russia’s Vladimir Putin, Iran’s Mahmoud Ahmadinejad, and Venezuela’s Hugo Chávez have all been humbled by the falling price of...

For Chavez, the End Is Near
 For Chavez, the End Is Near 
OPINION
Feb 14, 2009 4:04 PM CST

For Chavez, the End Is Near

Referendum will keep him in power, but Venezuelan economy makes it 'irrelevant'

(Newser) - Hugo Chavez has a slight lead in tomorrow’s referendum that would allow him to extend his rule in Venezuela, but the realities of the country’s economy make the issue “mostly irrelevant,” Edward Schumacher-Matos writes in the Washington Post. No matter the outcome, his days are numbered....

Chavez Marks Decade in Power
 Chavez Marks Decade in Power 
Feb 2, 2009 9:55 AM CST

Chavez Marks Decade in Power

President gives Venezuela today off amid attempts to continue reign

(Newser) - Hugo Chavez declared a national holiday in Venezuela today to celebrate his 10th anniversary as the country’s president, Reuters reports. The festivities come during efforts by Chavez supporters to extend presidential term limits, and amid fears from some quarters that his increased power is evolving into dictatorship. But Chavez...

Chavez Cronies Hit Vatican HQ With Tear Gas

Supporters also attack opponents of lifting term limits for leader

(Newser) - Supporters of Hugo Chavez have claimed responsibility for a tear gas attack on the Vatican's headquarters in Caracas, reports CNN. Three canisters landed deep inside the building, which has been sheltering an anti-Chavez student leader wanted by police since June. Several people were overcome by fumes. Gas attacks elsewhere in...

Chavez Quietly Courts Western Oil Firms

Falling oil prices force Venezuelan prez to swallow his pride

(Newser) - The falling price of oil is forcing Venezuelan President Hugo Chavez to quietly make overtures to the Western oil companies he used to harass and shun, reports the New York Times. Chavez needs the foreign expertise and purchasing power to help boost Venezuela's declining production and income. The lure of...

Venezuela Yanks Free Fuel for Poor Americans

Plunging price of oil forces Chavez to freeze fuel aid program

(Newser) - Venezuela has halted its gifts of free fuel to America's poor, the New York Times reports. The controversial foreign aid project supplied heating oil to 200,000 low-income households in 23 states and on Indian reservations, but the plunge in the price of oil has hit Venezuela hard and President...

Russian Warships Dock at Havana Bay

(Newser) - Russian warships arrived in Havana yesterday for the first time since the end of the Cold War, the London Times reports. The visit comes at the end of a 3-month South American tour that Russia expected would raise hackles in the US. “I guess they’re on R&R,...

Stone Shooting Chavez Flick
 Stone Shooting Chavez Flick 
Dec 11, 2008 5:32 AM CST

Stone Shooting Chavez Flick

Director sticking with politics for follow-up to W

(Newser) - Controversial filmmaker Oliver Stone is following up his Bush biopic with a documentary on Venezuelan President Hugo Chavez and the new wave of Latin American leftism, Variety reports. Stone, who joined Chavez earlier this year in an effort to broker a deal to free hostages held by Colombian rebels, has...

Chavez Seeks Power Until 2021

Launching new constitutional battle on term limits

(Newser) - Venezuelan President Hugo Chavez is again maneuvering to stay in power for at least another decade, the BBC reports. Chavez plans to seek a constitutional change that will allow him to seek re-election indefinitely, he told a weekend rally. Chavez lost a referendum just a year ago on a series...

After 10 Years, Chavez Faltering
 After 10 Years, Chavez Faltering 
Analysis
Nov 28, 2008 12:34 PM CST

After 10 Years, Chavez Faltering

But still blustering

(Newser) - After 10 years in power, Hugo Chavez is as blustery as ever. He’s predicted the end of “the evil capitalist mode,” told the IMF to “commit suicide,” and this week invited Dmitry Medvedev and a flotilla of Russian warships down for joint exercises. But beneath...

Medvedev Gets Cozy With Castro

Moscow seeks to extend influence in Latin America

(Newser) - Russian president Dmitry Medvedev is in Cuba strengthening ties with the Castro regime and attempting to broaden Russia's influence in Latin America, the BBC reports. Medvedev arrived in Havana yesterday from Venezuela where he and Hugo Chavez signed deals promoting nuclear energy and developing closer military ties. Russia is expected...

Holloway Suspect: I Sold Her

Dutch man admits selling American teen on Aruba in 2005, then switches stories

(Newser) - After claiming—then denying—he dumped Natalee Holloway’s body in the Caribbean, Joran van der Sloot confessed to Fox News he watched her being hauled away on a vessel after selling the drunk teen in 2005 to a Venezuelan man seeking “a blonde girl.” The interview, which...

Ch&aacute;vez Welcomes Russian Navy
 Chávez Welcomes Russian Navy
Nov 25, 2008 12:45 PM CST

Chávez Welcomes Russian Navy

Medvedev makes first visit to Caracas

(Newser) - Russian warships arrived in Venezuela today, a show of strength aimed at the US as Moscow seeks to expand its influence in Latin America. Venezuelan sailors fired off cannons in a 21-gun salute as the destroyer Admiral Chabanenko docked in La Guaira, near Caracas. Russian sailors dressed in black-and-white uniforms...

Opposition Scores Key Gains in Venezuela Election

But president's backers retain majority of power

(Newser) - President Hugo Chávez’s supporters held onto a strong majority in yesterday’s local elections in Venezuela, but the opposition party won a number of key victories, the AP reports. Chávez backers won 17 of 22 gubernatorial seats, while the opposition took the mayor’s office in Caracas...

Latin American Nations Reject DEA

Bolivia, Ecuador latest to repudiate US anti-drug operations

(Newser) - Some Latin American countries are pushing back against the US by cutting off DEA operations, the Christian Science Monitor reports. President Evo Morales, saying DEA agents "worked to conduct political espionage," gave them 3 months to leave Bolivia. Ecuador, meanwhile, has refused to renew the US lease on...

Miami Man Convicted in $800K Suitcase Scandal

Businessman was Chávez agent, jury says

(Newser) - The international political funding scandal known as Suitcasegate took a new, diplomatically fraught turn yesterday when a Miami court convicted a businessman of conspiracy and of acting as an "unregistered agent" of the Venezuelan government. The trial concerns a suitcase filled with $800,000 that was intercepted in Buenos...

OPEC Panics as Oil Plunges
 OPEC Panics as Oil Plunges 
Oct 22, 2008 8:33 AM CDT

OPEC Panics as Oil Plunges

Cartel plans emergency meeting this week to cut production

(Newser) - Earlier this year the nations of OPEC were riding high as booming economic growth and tight supplies buoyed crude above $100. But now a barrel of oil is $70 and dropping fast, and frightened petroleum producers are holding an emergency meeting this week to discuss a production cut. As the...

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