He has been true to his 'theme' of liberating Venezuela from the clutches of insitutions that have, in the past, locked South American countries into insoluble debt. He, along with Brazilian President, Inácio Lula Da Silva and Paraguay's Nicanor Duarte created a South American alternative to the IMF. I hope it goes well. It's philosophy is something the people of South America understand and approve of. Not bad, for a man Bush simply dispises.
Venezuela cuts oil payment time (click here)
Published: Jan. 8, 2008 at 11:26 PM
CARACAS, Venezuela, Jan. 8 (UPI) -- Venezuela's state energy company, PDVSA, decided Tuesday to cut the period for which foreign companies can pay for oil from 30 days to eight. Venezuelan officials said they decided to reduce the length of its payment period so PDVSA can, in turn, reinvest in its infrastructure sooner, Globovision TV reported Tuesday. Officials also attributed the decision to the declining value of the dollar. In 2007, Venezuela assumed majority control of several large oil projects, including those of U.S. producer ExxonMobil.
