Fresh from his presidential election victory, Hugo Chávez has announced plans for a $20 billion, 5,600 mile natural gas pipeline to run from Venezuela’s own gas reserves to countries throughout South America. Chávez is calling the scheme “the most important project ever contemplated for the continent” but critics wonder if the ex-soldier’s vision will ever become a reality. Chávez is also rolling up his sleeves for a showdown with several big oil companies for control of the Orinoco belt, allegedly the world’s largest petroleum reserve.
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