Word: venezuela
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...THIRD WORLD. The latest upheaval, like others in the past, will cause the greatest suffering in the Third World. Aside from a handful of oil producers, such as Venezuela, Mexico, Nigeria and Libya, most of Africa and Latin America will be left with higher energy prices and softer markets for their exports. Double-digit inflation could turn into triple digits, recessions could become depressions, and foreign debt would go unpaid...
These sanctions will also damage many of the countries that impose them, since the world relies on Iraq and Kuwait for 10% of its oil needs. But Iraq's opponents won a reprieve last week when important oil producers like Saudi Arabia, the United Arab Emirates, Venezuela and Mexico said they would increase output to make up for most of the shortfall. That news helped stabilize world financial markets and stymie the superquick climb of oil prices last week...
...offshore awaiting space to unload their cargo. Even if Iraq's daily production of 3.1 million bbl. or Kuwait's 1.9 million bbl. were cut off, either by military action or by a U.S.-led embargo, a serious shortage would take time to develop. Countries like Saudi Arabia and Venezuela, which are producing below their capacity, could quickly fill...
...down like a setting sun, replaced by Chevron's stripes after a corporate takeover. More important, some of the new owners are foreign oil companies. Texaco's refining and marketing operations in 26 Eastern and Gulf Coast states are now half-owned by the Saudi Arabian oil company Aramco. Venezuela's national petroleum company bought out Citgo. In Europe a new symbol has emerged: Q8. The homophonic logo representing Kuwait's oil company appears on the signs of 4,800 gasoline stations in Western Europe...
...stability, Duarte became El Salvador's first freely elected civilian President in half a century. It was a particularly satisfying victory, since Duarte had been robbed of the presidency in 1972, when Salvadoran soldiers halted the vote count and beat the candidate severely. Duarte fled into exile in Venezuela, not venturing home until seven years later, when a coup paved the way for his participation in a military-civilian junta. When the presidential nod finally came, he proclaimed, "This moment is just the beginning of a much longer road...