VHeadline.com : Thursday, August 1, 2002 — The privatization of Petroleos de Venezuela (PDVSA) was a top priority for April 11 coup d’etat conspirators. According to some analysts, the Bush II Clan and Spain’s Repsol oil co would have been the main beneficiaries and PDVSA’s US subsidiary Citgo would have gone to media mogul Gustavo Cisneros and US partners.
It adds up, analysts say, if one takes into account the prosecution attempt by the opposition against President Hugo Chavez for the selling cheap oil to Cuba, the importance of Venezuelan oil to the USA and the role of PDVSA executives in creating a conflict that snowballed into a massive march on Miraflores that ended in disaster.
Former PDVSA president, and current Bush administration adviser Luis Giusti, played a strategic role in the coup since he initiated and monitored PDVSA de-capitalization policy.
The PDVSA rebels also conspired against the Organization of Petroleum Exporting Countries (OPEC) to favor Bush II administration interests … the rebels belong to the major payroll and are said to be a caste that jealously guard company secrets and earn individual salaries between $100,000 and $4 million a year.
Before the arrival of President Hugo Chavez Frias, PDVSA was known as a “State within a State” and the petty cash box of Accion Democratica (AD) and Christian Socialists (COPEI).
Chavez Frias has attempted to change all that, ending the secrets and internal spying, only to find solid opposition and sabotage … and a coup d’etat. It’s worth mentioning that none of the rebel executives has been dismissed or jailed.