Venezuelan President Chavez To Undergo Chemotherapy

By Gabrielle Pfafflin

The Associated Press reported wednesday that Venezuelan President Hugo Chavez expects to undergo chemotherapy and radiation treatment, signaling a possible change in his regime structure and communication.

On June 20, he reportedly traveled to Cuba for surgery to remove a baseball-sized tumor. Although the location of the tumor and the type of cancer are uncertain, the AP reported that surgery was previously conducted in Chvez’s pelvic region.

Due to the cancer treatment, Chavez has taken a step back from being the omnipresent Venezuelan socialist he is internationally known as. His public speeches and television appearances have been shortened, and under doctors’ orders late night ministry meetings have also stopped.

In preparation for the upcoming 2012 election, Chavez flipped the news of his illness to conjure up greater public support and sympathy. He regularly posts twitter updates regarding his condition and ongoing support for Venezuelan workers, broadcasting his attendance to Mass, as well as his stretching rehabilitation exercises.

Chavez recently attributed his recovery “to God and to medical science, and to this body, which seems tougher than what I myself believed.”

It is unclear how significant the impact his illness will have on the 2012 Venezuelan elections, but already the doubts of his future are spilling into all sectors of Venezuela.

The Wall Street Journal reported Friday that the possibility of political upheaval in the near future dampens already hesitant foreign investment in the Venezuelan Orinoco oil fields.

According to the WSJ report, the majority of Petróleos de Venezuela, or PdVSA’s, profits directly fund several of Venezuela’s social programs, including food distribution and the construction of low-income housing throughout the country.

Should Chavez’ health fail, political and economic recovery in Venezuela would be long and tedious, due to the state monopoly over crucial industries and an economic over-dependence on the state oil industry.

For the United States, his death would be a mix of success and worry. His death could prompt an end to heavy-handed government regulation of the oil industry, or prompt a stronger autocratic government within Venezuela. Currently, Venezuela is one of the preeminent oil producers in the world. Internal political chaos could halt oil production to the tune of 2.7 million barrels per day.

Diego Moya-Ocampos, an analyst with IHS Global Insight said, “Any transitional government will not want to affect oil supplies.”

However, any affect to current oil supplies will likely result in higher oil prices internationally.

To read the full AP article, click HERE

To read the full WSJ article click HERE