Chí¡vez Calls Lula Oil Magnate and Invites Brazil to Subsidize Oil to the Poor

Venezuelan president Chávez Venezuela President, Hugo Chávez, called this Friday, November 9, the Brazilian president, Luiz Inácio Lula da Silva, "oil magnate" and proposed the creation of Petroamazonia (PetroAmazon) a company that would join Brazil's Petrobras and Venezuelan PDV (Petroleos de Venezuela).

Chávez banter and proposal happened during a speech at the XVII Ibero-American Summit being held in Santiago, capital of Chile.

"Lula," said the Venezuelan president, "now that you are an oil magnate, that Brazil has so much oil, I propose that we join forcer in these cooperation mechanisms with the countries that do not have oil, with the countries that cannot pay US$ 100 a barrel."

Chávez indicated that he would like to see Brazil also selling its oil at subsidized prices to poorer nations at up to 70% below market price.

During his 25-minute speech, Venezuela's president made several other ironical references to Brazil's announcement that it has discovered new oil fields, enough to become a top-ten oil exporter at least as big as Venezuela.

"Brazil now can get into OPEC (Organization of the Petroleum Exporting Countries) with this large amount it got," said Chávez. "If this is really true. Let's hope it is." he added.

Brazil's special advisor to the Presidency for International Subjects, Marco Aurélio Garcia, said that the creation of a company to sell subsidized oil is not being discussed by the Brazilian government. "This makes no sense," he stated.

For Garcia. the Venezuelan president's comments were a funny and pleasant way to mention Brazil's news oil findings. He added that Brazil even with a larger oil reserve will not be Venezuela's competitor in the petroleum field.


  • Show Comments (6)

  • Daiu

    For opposition, read fascist
    It appears there is no opposition in Venezuela – not unlike Brazil, but for different reasons: PSDB are more worried about lining up a candidate for the presidential elections, without hurting LulaÀ‚´s love affair with PMDB.
    Maybe, Chavez has bitten off more than he can chew this time.His yes men could whisper in his ear ` Hugo-o-o, now will you stop calling everybody a fascist?À‚´.
    A retired army commander and long-time Chavez ally, a Mr Raul Isaias Baduel, has joined the opposition to the draft constitution saying it has amounted to a coup. The government has called him a….. traitor: Of course!

  • João da Silva

    Chavez’s is just a jerk
    A good comment and I agree with you. This evening I was watching the News on the TV about a conference in Chile where this jerk participated.He was so overbearing that finally King Juan Carlos of Spain had to tell him to shut up.He is nothing but a “PavÀƒ£o” exactly like his mentor Fidel.

  • veog

    A jerk ‘s comments
    Brazil has just found oil prospects, but it will take a least 10 years to comercialize if it is tecnological posible. Obviously they are going to subsidize the poor, but as readers said before, they have pleanty of their own poor people.

    Chavez’s is just a jerk, the venezuelan poor people are really in need of help and Chavez is giving money out like it was his, he is stealing Venezuela’s money from Venezuelans, and many countries are lining up to received their handout, they are just sockers !

  • Simpleton

    Beat goes on
    Take’n it to the streets boys. Love it Hoboto! It’s a risk bring in the cash via petrol – spilling it upon the land, into the rivers, onto the shores or surfaces of the sea. But conserved, directed, spent properly it’s better than the blood.

  • Hoberto

    I agree 100%. If you have spent any time in Brazil then you KNOW! Its now time get the street boys educated so they can have a real life in Brazil!

  • aes

    Venezuela is at war with itself.
    He is patronizing. A simple congratulation would have suffised. Brazil has pleanty of poor that it can subsidize, it does not need to look for them in any other country.

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