Surprisingly, part of Chavez's oil-based financial windfall comes from the U.S. Navy. Its "Navy Exchange (NEX) Service Command" has a contract, running until 2010, which specifies that Citgo supply gasoline to all NEX service stations. Formerly known as Cities Service, an American-owned refiner and gasoline retailer, Citgo was sold in the 1990sand is now owned by PDV America, Inc., an indirect, wholly owned subsidiary ofthe state-owned oil company, Petróleos de Venezuela, S.A. (PdVSA), which is in turn wholly owned and controlled by the Hugo Chávez-led government of the Bolivarian Republic of Venezuela.[13] Citgo's refineries are the only ones in the U.S. (and among the few in the world) built specifically to refine Venezuela's heavy, dirty, and high-sulfur crude oil,[14] so the Chávez regime is heavily reliant on them for income.
How the U.S. Navy Inadvertently Supports Hugo Chávez
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Seeded on Tue Mar 18, 2008 5:23 AM
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