Print

Print


http://www.indiadaily.com/editorial/11-27b-04.asp

After Iraq it is Venezuela - the next oil confrontation between America 
and Euro Zone and this time a new super power coalition of India, 
China, Russia and Brazil makes the difference
Sudhir Chadda, Special Correspondence
November 27, 2004

After Iraq it is oil rich Venezuela led by Hugo Chavez that has become 
the center for confrontation between America and the Euro Zone. Chavez 
is dead against America and Euro Zone needs him to keep the oil balance 
- the power symbol in 2005. But this time the equation is a little 
different. A new regional and super power coalition of India, China, 
Russia and Brazil is making a huge difference. Russian President is in 
the zone to pull Brazil in the coalition and influence on Chavez for 
mutual support.

While the whole world is focused on America and the Euro zone for the 
super power challenges, both these powers are looking small when you 
combine the powers of the new coalition Putin is building with India, 
China, Russia and Brazil. Add to that Venezuelan oil that supplies 
America a substantial crude oil, and now you have the actual scenario 
of confrontation.

Venezuelan President Hugo Chavez is leveraging his country's oil 
resources to build new geopolitical relationships with key regional 
powers like Russia, China, India and Brazil.

Northern Andean region is where the new super power coalition is 
planning to influence most. It is in the corridor of America and rich 
with many natural resources. This is the region that America takes it 
for granted. 
For Russian, Chinese and other non-US. oil companies, the Chavez 
government's oil-based foreign policy also will translate into 
profitable investment opportunities in Venezuela in coming years. 

Brazil, a member of the superpower coalition is a neighbor of 
Venezuela, And though Brazil has special relations with America, it has 
far more interest in Venezuela than any other countries. 

According to think tanks, it is not Iran but Venezuela will be the next 
epicenter of confrontation for oil supremacy. But this time both Euro 
zone and America will face a real formidable super power coalition - 
the combined resources of India, China, Russia and Brazil.