Word: venezuela
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Dates: during 1990-1999
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...with additional guarantees. The administration of President Cesar Gaviria Trujillo expressed interest in the latest message. Government pressure on the cartel's cocaine-refining labs has reduced output 15% to 25% from a year ago, forcing the drug empire to move some refineries to Peru, Brazil, Ecuador and Venezuela. Still, more than 700 tons of refined cocaine flow out of Colombia annually...
When he gets back from that jaunt, he plans to hang out at 1600 Pennsylvania Avenue for only four days, then to roar south to Argentina, Brazil, Chile, Venezuela and Uruguay. In January it must be Moscow, if Bush's pal Mikhail Gorbachev is still in charge, followed by stops in Turkey and Greece. By the end of February, Air Force One is expected to be riding the billowy cumulus above Australia, headed for South Korea and Japan, leading to the dark suspicion that Bush may be trying to emulate Lyndon B. Magellan (a tag pasted on L.B.J. when...
Perez speaks from experience. During an earlier term as President he led his country on a giddy spending spree when oil revenues soared after the Yom Kippur War and the Arab embargo brought on the first oil shock in 1973. Venezuela squandered billions of petrodollars on luxury imports, high- visibility public works and a bloated state bureaucracy. When oil prices fell in the early 1980s, Venezuela retreated behind a wall of protectionism and a popular though inefficient system of price supports for local products...
...Venezuela's integration with the outside world makes it all the more vulnerable to what is happening there. Faced with staggering new energy costs, Third World and East European countries are asking for Venezuelan oil on credit or at a discount. The more poverty grows in Latin America and the Caribbean, the more Venezuela must worry about illegal immigration, cross- border crime and political instability in the region. Should high prices trigger a full-scale recession in the U.S., there will be fewer buyers for Venezuelan exports, higher interest on outstanding debt and less American capital to help underwrite expansion...
...that Perez plans to leave the Saddam bonus unspent. His government intends to build new wells, refineries and storage facilities. During a meeting in New York in October, Perez told George Bush that Venezuela plans to expand its production capacity. Great, said Bush; a former Texas oil speculator himself, he wasted no time in urging Perez to liberalize Venezuelan foreign-investment laws even further and let U.S. companies join in exploration and production. Perez's political opponents might make that difficult for him, since it was he who nationalized Venezuela's U.S.-dominated oil industry in 1974. But whether Yanquis...