Chávez Lets West Make Oil Bids as Prices Plunge

[Bacchus39]

interesting article. also on the LBN.

http://www.nytimes.com/2009/01/15/world/americas/15venez.html?hp

"But Venezuela may have little choice but to form new ventures with foreign oil companies. Nationalizations in other sectors, like agriculture and steel manufacturing, are fueling capital flight, leaving Venezuela reliant on oil for about 93 percent of its export revenue in 2008, up from 69 percent in 1998 when Mr. Chávez was first elected."