Greene Concepts Inc (INKW)

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Venezuela: Slowly Turning Off the Tap Toward the US...

April 22, 2006

Venezuela's President Hugo Chavez is taking decisive steps to turn off or at least significantly reduce the flow of oil from Venezuela to the U.S., as Venezuela's state owned oil company PDVSA, which owns the CITGO refineries and retail outlets in the U.S., has inked a key deal with India, taking the first key step away from the U.S. as its major oil buyer.

At the same time, PDVSA has announced that it will no longer reveal oil statistics to the SEC after paying off its debts to the U.S. through the purchase of some $80 million in U.S. bonds, according to reports.

The India deal and the refusal to disclose information are not just strategic, but also send a message to the U.S. about Venezuela's future plans with regard to supplying the U.S. with oil....


http://www.financialsense.com/editorials/duarte/2006/0422.html


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US Energy Independence starts at home... by developing domestic energy supplies.