Venezuela basks in oil ‘bonanza’

Mr Chavez and his ministers are increasingly putting natural gas at the forefront of their long term strategy for the next 20 years.

..”Oil will gradually run out around the world and more and more countries will turn to gas. Latin America will also have to switch to gas. In fact it’s much more efficient to generate energy using gas than with oil,” Mr Ramirez, Venezuela’s Oil Minister, said.