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Editorial Commentary
VenEconomy :
Tomorrow is too late?
After the 2006 presidential election on Dec.3, Hugo Chávez ratified that he felt sufficiently strengthened by the seven million votes he received to shift into high gear the changes manifest in his “21st Century Socialism.”
Backed by powers granted him by the National Assembly, he introduced the Law against Hoarding, Price Gouging, and Boycotting, which he uses to keep businessmen and merchants in line. Continuing with his autocratic blitz, the President gained majority share control of the Orinoco Belt strategic associations and upgraders, then proceeded to nationalize CANTV, Electricidad de Caracas and other electric power sector companies, even as he cancelled RCTV’s broadcasting license and confiscated their equipment.
Still not satisfied, the President tried to modify the Constitution in order to remain perpetually in power, thereby putting the final touch on his dictatorial project.
Chávez’s blitz seemed to have been brought to a halt on Dec. 2, 2007, when a majority of Venezuelans voted NO to his constitutional reforms. However, just as the President said after his defeat, the project continues.
As proof of the fact that the “revolution hasn’t stopped” the government has been carrying out a Bolivarian counterattack these last six weeks. For example:
1) Changes made to the Bolivarian school curriculum are still moving forward despite presidential “promises” that the educational proposal will be submitted to a public debate and then a vote.
2) “Recovery” of 63,000 hectares (155,676 acres) of productive lands belonging to the Hato El Frío property, without paying any compensation, together with the INTI threat that another 1,000,000 hectares (2,471,054 acres) will be “recovered” in 2008.
3) The purchase of the Lácteos Los Andes dairy company and the Cealco refrigeration company chain in order to “solve” the food shortage problem; plus, the government’s announcement that it is planning to introduce a whole new food distribution chain.
4) The “migration” to mixed companies - with a Venezuelan State shareholding majority -- in the cement industry, based on false arguments by the government that this was done to stop hoarding and to counteract a policy of prices being controlled in cartel-like fashion.
5) The announcement this Wednesday of the re-nationalization of Ternium Sidor, the country’s main steel company, majority-controlled by the Italian-Argentine Techint consortium.
Polls now show that Chávez’s popularity is down, not only because of the referendum defeat on Dec. 2, but because of the $800,000 “briefcase” scandal and his alleged connections to the FARC and international narco-terrorism. Moreover, there is another dark shadow cast by the Chávez family clan corruption scandal recently brought to light by evidence presented by the National Assembly´s Wilmer Azuaje, in addition to even more serious allegations of corruption tied to the infamous Danilo Anderson case.
All this could begin bring down Chavez´s house of cards.
VenEconomy is a Venezuela's leading specialized publisher in the economic and financial area. VenEconomy's Points of View on the issues of the day, as seen by VenEconomy during the last week. Petroleumworld does not necessarily share these views.
Editor's Note: This commentary was originally published by VenEconomy, on 04/09/2007. Petroleumworld reprint this article in the interest of our readers.
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Petroleumworld News 04/10/08
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