Posted on 04/13/2002 12:21:06 AM PDT by Jeff Chandler
WASHINGTON -- The Bush administration signaled satisfaction yesterday with the ouster of leftist Venezuelan President Hugo Chavez in a military coup that was expected to help restore the flow of oil from the Caribbean nation that accounts for 14 percent of U.S. oil imports.
The apparent end of a political crisis in America's No. 3 foreign oil supplier, coupled with an earlier commitment by some oil-producing allies to offset an Iraqi oil boycott, raised officials' hopes for greater stability in soaring U.S. gasoline prices.
Venezuelan oil exports had slowed during a seven-week political crisis that erupted after Chavez began to install allies in key positions in the government-owned oil monopoly known as Petroleos de Venezuela.
Oil executives battled Chavez by slashing production.
Horacio Medina, an executive at Petroleos de Venezuela, said after the Chavez ouster that workers would move quickly to resume refinery operations and oil exports in hopes of restoring full operations within a week.
White House press secretary Ari Fleischer and State Department spokesman Philip Reeker underscored administration satisfaction with Chavez's departure by pointedly refusing to condemn the coup that topped a democratically elected leader of a Latin American ally.
Chavez won the presidency on an anti-poverty platform in 1998.
The two officials blamed Chavez -- a fiery former paratrooper -- for the ouster, saying that "undemocratic actions committed or encouraged by the Chavez administration" had "provoked" the military takeover.
The military forced Chavez to step down early yesterday amid violent protests that left at least 14 people dead and 240 wounded.
The Venezuelan armed forces installed Pedro Carmona, a prominent business leader, as the nation's new chief executive and promised new legislative and presidential elections within a year.
"We wish to express our solidarity with the Venezuelan people and look forward to working with all democratic forces in Venezuela to ensure the full exercise of democratic rights," Fleischer and Reeker said.
Fleischer cited the "important energy relationship" between Venezuela and the United States, adding: "Venezuela has been a reliable and steady energy partner of the United States and we will continue to monitor events carefully."
Asked twice whether President Bush was sorry to see the popularly elected leader of Venezuela toppled by the military coup, Fleischer replied: "The president is saddened by the loss of life. The president hopes the situation will be one of tranquility in a democracy."
News of the turnabout in Venezuela came as the Labor Department reported that fast-rising gasoline prices had driven up March wholesale prices by 1 percent -- the largest monthly increase in 14 months.
The wildcard for U.S. oil prices remained uncertainty over Middle East peace efforts following a suicide bombing by a Palestinian in Jerusalem yesterday that claimed six lives and wounded dozens.
The attack led Secretary of State Colin Powell to delay meeting Palestinian leader Yasser Arafat until tomorrow. Powell is in the region to attempt to broker a cease-fire between Israel and the Palestinians.
Venezuela's armed forces enjoyed close ties with U.S. armed forces before Chavez suspended routine participation in regional military exercises.
Chavez had forged ties with Cuba and Iraq during a tumultuous presidency that saw his popularity plummet from 80 percent support to below 30 percent.
World oil prices eased in the wake of Chavez's ouster. Contracts for May delivery of North Sea Brent crude oil dropped 36 cents a barrel or about 1 percent to $24.68 in afternoon trading in London.
The price of North Sea Brent crude oil had reached $28.15 last week -- 12 percent higher than the price yesterday.
Venezuela's armed forces enjoyed close ties with U.S. armed forces before Chavez suspended routine participation in regional military exercises. Chavez had forged ties with Cuba and Iraq during a tumultuous presidency that saw his popularity plummet from 80 percent support to below 30 percent.
Check this: (August 11, 2001) Venezuela Orders US Offices Vacated***U.S. Embassy sources said the move came as a surprise. In a statement, the embassy said ``we regret this decision as it will make it difficult to carry on our long-standing relationship with the Venezuelan government's military.'' The action came on the eve of President Fidel Castro's two-day visit to southwestern Venezuela. The United States is the biggest importer of Venezuelan oil, and the two countries cooperate closely on counter-narcotics efforts. But President Hugo Chavez vocally challenges what he describes as U.S. political and economy dominance abroad.***
I don't know if I'd go so far as to put any credence into what you may be hinting at. With Chavez's support down around 30%, this looks more like a home-grown ousting.
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