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Article: FORTUNE: Oil Could Rise above $100, Says Venezuelan President Hugo Chavez; In rare interview, Chavez talks to FORTUNE about oil prices - and why George Bush is `a threat to the world.'.
- Article from:
- Business Wire
- Article date:
- September 20, 2005
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NEW YORK -- Venezuela is now the key to satisfying America's oil habit; by some measures, this volatile Latin American nation has surpassed Canada and Saudi Arabia to become America's leading foreign source of crude. All of which is helping fiery socialist president Hugo Chavez challenge Big Oil. He's hiking taxes and royalties on the international giants, even as he strengthens the hand of OPEC and state-owned energy companies around the world. What's more, he has threatened to shut the spigot if the Bush Administration challenges his grip on power in Caracas.
In a rare interview with FORTUNE, Chavez, who was in New York for the U.N. General Assembly, spoke ...