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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
by Sudhir Chadda
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.