Word: citgo
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When you?re a U.S. Congressman and 25,000 constituent families can?t find affordable heating oil this winter, you tend not to care where help comes from. That?s at least how U.S. Representative Chaka Fattah of Philadelphia felt last week when Citgo - the U.S.-based company owned by the government of Venezuela?s left-wing President Hugo Chavez - delivered 5 million gallons of heating oil at a 40% discount to low-income Philadelphia residents. Fattah says he doesn?t understand the objections of many congressional conservatives who feel U.S. cities should not be helping improve the image...
...That?s a question the Bush Administration - whose feelings for Chavez are certainly mutual - has struggled to answer ever since Venezuela initiated the Citgo program last November. While the heating oil gesture has certainly allowed Chavez to tweak Bush?s nose, it is also being recognized inside and outside of Washington as a public relations coup for Chavez?s Bolivarian Revolution (named for South America?s 19th-century independence hero, Simon Bolivar...
...elected revolutionary (a charge the Bush Administration denies). Since then, despite what critics call Chávez's penchant for authoritarian rule, his popularity has risen--not only in Latin America but also in some parts of U.S. cities like Boston and New York, where the Venezuelan government--owned company Citgo is providing low-income residents with cheap heating oil this winter. Chávez has surpassed his good friend Fidel Castro as the anti-U.S. idol of the Latin American masses--and as a model for other populist leaders in the region, although few have his petroleum resources...
...media also need big advertisers. Toyota and erectile-dysfunction drug Cialis sponsored this year's Bassmaster Classic, along with oil refiner Citgo. FLW attracted not only Wal-Mart but also Kellogg's and Dodge. "From both a business and a ratings perspective," says Fox's George Greenberg, "this sport is about to catch fire." For this year's Bassmaster Classic, the total number of households tuning into the final ceremony rose 9% over last year, with about 526,000 homes watching. (The biggest cable sports show that week: wrestling's Raw Zone, seen in 3.2 million homes...
Though PDVSA supplies almost half the government's revenues, it once ran itself like a private corporation--acquiring subsidiaries like U.S.-based CITGO--and gained a global reputation as a model oil firm. But at home it was viewed as a den of arrogant, pampered technocrats--and a cookie jar for Venezuela's elite, whose corruption has left two-thirds of the population in poverty. Among the poor was Rodriguez's farming family. It made him all the more receptive to economists like Bernard Mommer, a German-born Marxist who taught Rodriguez at Caracas' Central University. As a Congressman, Rodriguez...