Chavez Handed Power To Take Over Energy Sector

Law360, New York (January 30, 2007, 12:00 AM EST) -- Venezuela’s National Assembly said Monday it would give President Hugo Chavez the power to make changes to the country’s oil, gas and electricity sectors without first going through the congressional process.

This “Ley Habilitante,” as it is called, is expected to pass Wednesday and will help Chavez in his quest to nationalize more of Venezuela’s industries.

“[Chavez will be able to] dictate rules in the hydrocarbon sector, from the means of production and transport of oil and gas by-products to security measures,” the National Assembly said...
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