Venezuela Investment Climate
Article from: OGEL 2 (2007), in Security of Energy Supply
Summary
The political and security risks in Venezuela's energy investment environment during January were largely associated with legislation that centralised power around President Hugo Chavez. The inauguration speech at the beginning of the month indicated the extent of his nationalisation plans (particularly hitting the energy industry) and the decree law approved by Congress on 31 January means that his leadership will now proceed virtually unchecked. These new decree powers will further concentrate power around Mr Chavez and will likely induce political and security threats ...