Venezuela: wielding the barrel

摘要

Providing relief from rising energy import bills is a powerful means of extending regionalninfluence. But by developing a refining network based on Venezuelan crude and byndealing only with state-owned companies, Caracas is creating a more durable form ofndependency and eating into the market share of US-based refined oil distributors. Longtermnlow interest loans, while generous, may also provide future leverage.