Sunday, October 01, 2006

Joint Ventures: Venezuela’s Faustian Pact with Foreign Capital

Artigo em

The following statement may come as a bit of a shock to those who have listened to one of President Chávez’s anti-imperialist speeches: PDVSA, the Venezuelan state oil company and renowned source of riches—riches that fund the famous social missions at that—has recently gone into partnership with the forces of imperialism. Shell, Chevron, BP, and other equally infamous trans-national oil corporations have formed joint ventures (empresas mixtas in Spanish) with PDVSA. Even more shocking, this has been sold to the people as a radical recapture of national sovereignty and a victory against imperialism. George Orwell and his novel 1984 spring to mind. But the Minister of Energy and Oil, Rafael Ramírez, said so himself regarding the new joint ventures: “We have done nothing more than reclaim the biggest oil reserves in the world from the jaws of imperialism.”

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