I said goodbye over the weekend to a friend going back to Honduras for a few months. My mind is never free of what is happening in our own hemisphere. The full reporting of the article below is in a reader's comment link. (Thank you, Bill.)
Let's see...BP has caused the world's largest environmental disaster and in doing so has closed off an oil supply to the United States. Here is what is happening further south:
From the link: "Reuters news reported on April 17 that Venezuelan President Hugo Chavez had announced that China was providing his nation with a long-term, $20 billion financing plan to fund major projects in his nation, which is a leading oil exporter.
'China is going to give financing to Venezuela, to the Venezuelan people, to the Bolivarian Revolution ... over the long-term and in large volume of some $20 billion,' Chavez said at a signing ceremony in Caracas.
Chavez said that the latest agreement was in addition to an existing $12 billion Chinese-Venezuelan investment fund into which Beijing deposits money in advance towards sales of oil. Venezuela currently sends China 460,000 barrels of crude oil a day, which is credited against the $8 billion China has loaned to Venezuela for infrastructure projects.
Bloomberg news quoted from a statement Chavez made on state television: 'We agreed on a huge, long-term financing plan. This is a larger scope, a super heavy fund. China needs energy security and we’re here to provide them with all the oil they need.'”