These two recent articles seem to indicate we are heading in that direction:
Venezuela to oil firms; accept sovereignty or leave
Mon Apr 25, 2005 12:06 PM ET
By Pascal Fletcher
CARACAS, Venezuela, April 25 (Reuters) - Venezuela's government aims to reverse a past opening to foreign oil investors it says hurt the nation, and it will not work with companies that do not accept its energy sovereignty, Oil Minister Rafael Ramirez said Monday.
In separate newspaper and TV interviews, Ramirez outlined the fiercely nationalistic vision which has led left-wing President Hugo Chavez to recently order contract changes and tax hikes for foreign companies operating in Venezuela.
The message seems mostly directed at U.S. oil majors which were the biggest participants in a wave of foreign investment in the world's No. 5 oil exporter in the 1990s, when previous governments opened up the energy sector.
Chavez, a fierce critic of Washington, has ordered a review of these 1990s oil contracts he says have "robbed" the nation of income he wants to use to finance national development. Venezuela remains a major oil supplier to the United States.
more...
http://www.reuters.com/financeNewsArticle.jhtml?type=mergersNews&storyID=8285242§ion=investingThe next Iraq – US plans to confront oil rich Venezuela – it may turn out the hot spot of third world war- the oil war
Balaji Reddy
Apr. 26, 2005
Chavez of oil rich Venezuela is a strong critic of American policies and American President George Bush. He has recently taken steps to eliminate American oil companies influencing Venezuelan oil repositories. Venezuela has reached out to Brazil, Russia, India and China (BRIC alliance) for help, support and has offered its energy reserves to these countries. Chavez oppositions operate from neighboring Colombia and a string of misunderstanding has taken place between Colombia and Venezuela. Venezuela has decided to create million person militia directly under Chavez to confront any coup or foreign aggression.
The United States, which has concluded that normal relations with Venezuelan President Hugo Chavez no longer are possible, is considering a long-term strategy to oppose Chavez, The New York Times reported on April 26. The article cited U.S. officials as saying that a multi-agency task force has been working on developing a more confrontational approach toward Venezuela that could include increasing Washington's support for anti-Chavez groups in Venezuela and pushing neighboring countries to isolate Caracas.
According to sources, China and Russia both are keen on supporting Venezuela and have enormous interest in the Venezuelan Energy resources. India and Venezuela have started working on joint projects on the energy sector.
We may be looking into another Iraq where American Oil companies force the American Government to take some action. But this time it may be a little different. The energy world war that started in 1991 never manifested its teeth so badly till America invaded Iraq and Oil prices reached $55 per barrel.
more...
http://www.indiadaily.com/editorial/2447.asp