Word: referendums
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...Venezuelan people have spoken, and the people's voice is the voice of God!" HUGO CHAVEZ, President of Venezuela, declaring himself the victor in a recall referendum that opponents claim was won through fraud...
...year high and supply overstretched, any hint of disruption becomes a market mover. Oil prices hit $46.65 per bbl. last week - the highest in the 21-year history of New York Mercantile Exchange futures - amid fears of political unrest in the wake of oil-rich Venezuela's recall referendum on President Hugo Chávez. The soaring price might not signal a return to the 1970s oil shocks, but it was enough to cause stock markets to tumble and prompt economic leaders to warn of the threat to global economic growth. Right on cue, here comes Saudi Arabia to save...
...ANNOUNCED. OVERTURNED CONVICTIONS for four members of Indonesia's security forces, for alleged crimes against humanity during East Timor's violent 1999 independence referendum in which as many as 1,500 were killed; by an Indonesian appeals court in Jakarta. The decision, made last month but announced on Aug. 6, leaves standing the convictions of just two (both East Timorese civilians) of the 18 originally indicted...
Chavez--who faces a national recall referendum on Aug. 15--warned the U.S. this year that he'll turn off the oil spigot if the Bush Administration threatens to invade Venezuela over either politics or oil. U.S. officials dismiss that notion as absurd, but Rodriguez echoes the concern: "Many people here fear what happened in Iraq could happen to Venezuela." Still, Rodriguez, an attorney and a classical-music lover, emphasizes that Venezuela "doesn't want price volatility" and wants to continue being the U.S.'s most reliable supplier. "There is no contradiction between a strong alliance with OPEC," he says...
...privately say the government is helping them find ways around the hydrocarbons law. If so, the extra capital could be good news for what Rodriguez considers the soul of his reforms--the PDVSA-financed social projects, whose popularity among the poor may spell the difference for Chavez in the referendum. "We're going to be an even more model oil company," says Rodriguez, "because we'll be as visible in the barrios as we are in the markets." The policy wonk, in other words, is still a rebel. --With reporting by Brian Ellsworth/Caracas