Venezuelan, Colombian presidents open gas pipeline, seek regional energy integration

[Judi Lynn]

Source: International Herald Tribune/Associated Press

Venezuelan, Colombian presidents open gas pipeline, seek regional energy integration
The Associated Press
Published: October 12, 2007

ESTACION BALLENAS, Colombia: The leaders of Venezuela and Colombia inaugurated a natural gas pipeline between their countries Friday and promised to push ahead with ambitious plans to boost regional energy ties.

The 224-kilometer (139-mile) undersea pipeline opened by Venezuela's Hugo Chavez and Colombia's Alvaro Uribe in northern Colombia has the capacity to pump 500 million cubic feet (14 million cubic meters) of natural gas a day between the two countries, said Rafael Ramirez, Venezuela's energy and oil minister.
(snip)

Uribe, Washington's closest ally in the region, announced that Colombia would formally request to join a regional development bank backed by Chavez — one of the U.S. officials' greatest headaches in the area — that is to launch next month in Caracas.

"Our entrance into the Bank of the South is not a rejection of the World Bank or the Inter-American bank but an expression of solidarity and loyalty with the South American brotherhood," he said.



Read more: http://www.iht.com/articles/ap/2007/10/12/business/LA-FIN-Colombia-Venezuela-Energy.php

[aquart]

1. Another alliance that ignores our existence.

Well, we handled Latin America just brilliantly, didn't we?

[ProudPrimate]

2. Bush reaches for the Pepto Bismol

If Bush's staunchest ally in S.A. becomes a Chàvista, even in a minor way, the Chimperator will have serious gastric problems, I ween. Already Hugo is making inroads into Colombian politics by offering solutions in the standoff with the FARC.

Everybody needs to see the great John Pilger's first Feature Film, free on Google Video, appearing already in theaters in England, The War On Democracy

[Judi Lynn]

3. Colombia President Uribe: Will Join Regional Bank Banco Del Sur

Colombia President Uribe: Will Join Regional Bank Banco Del Sur

October 12, 2007: 02:10 PM EST


BOGOTA -(Dow Jones)- Colombia will join the regional multilateral bank known as the Bank of the South, or Banco del Sur in Spanish, President Alvaro Uribe said Friday in a speech when inaugurating a gas pipeline in Northern Colombia.

"The decision is not a rejection to the World Bank or the Inter-American Development Bank, but a sign of solidarity and fraternity towards the South American community, whom we will not let down," said Uribe, referring to two existing multilateral lenders.

The new bank, which will be officially created on Nov. 3 in Caracas, is the brainchild of Venezuelan President Hugo Chavez. He is promoting Banco del Sur as an alternative to the World Bank, the IDB and the International Monetary Fund, which he blames for perpetuating poverty and contributing the inflation in Latin America.

Chavez has touted the bank as a counterweight to U.S. influence and a way for the region to chart its own economic course.

More:
http://money.cnn.com/news/newsfeeds/articles/djf500/200710121410DOWJONESDJONLINE000683_FORTUNE5.htm

[AllyCat]

4. I wish they would reject the World Bank. It's done nothing but make

things tough for South America. I'm glad to see them doing their own thing. I don't think Chavez will be the kind of person to run this the way the Americans have. I really think he'll try to help people. Time will tell I guess.

Imagine what South America could do if they no longer exported their capital, particularly with all the resources they have. Maybe even the destruction of rain forests would stop. I hope that's not too much to ask.