In the wake of Paraguay's suspicious impeachment of President Fernando Lugo, which observers have likened to a kind of "quasi-coup," some may wonder whether underhanded corporate forces may have played a role in the political crisis. Such suspicions were heightened recently when the new de facto regime led by Federico Franco, Lugo's former conservative vice president, inked a deal with Texas-based PetroVictory/Crescent Global Oil to open up the remote Chaco region to petroleum exploration.
A diplomatic cable of the US embassy in Sofia, dated October 2, 2008, has been revealed on WikiLeaks, focusing on Bulgaria's energy dependence from Russia. The report titled "BULGARIA AND THE ENERGY KNOT: SCENESETTER FOR OCT 7 VISIT OF SPE GRAY," has been sent by then US Ambassador in Sofia, Nancy McEldowney to Boyden Grey, at the time Special Envoy for European Affairs and Special Envoy for Eurasian Energy at the Mission of the United States to the European Union, ahead of his visit to Bulgaria.
It's getting more and more difficult to deny that an oil supply crunch is just a few years down the road, especially now that WikiLeaks has released cables revealing that Saudi Arabia's oil reserves have been exaggerated by as much as 40%, or 300 billion barrels. Saudi Arabia is the world's largest oil exporter.