Oil Behind Aggressions against Venezuela

The coup of 2002, destabilizing attempts and aggressions against Venezuela's sovereignty 'have a strong oil component,' Minister of Energy Rafael Ramirez said. Stating the case of US firm Exxon Mobil before the National Assembly, the official recalled that big business interests are behind these actions. Ramirez, who is also president of state-run oil firm PDVSA (Petroleos de Venezuela), recalled that the oil opening policy of the 90s left a debit balance nearing $17 billion, including discounts and purchase abroad. The government of President Hugo Chavez took steps leading to forge joint ventures, thus restoring the state' majority control, besides fair tax and royalty paying.