Foes of Venezuela's Chavez extend strike to 46th day

www.forbes.com Reuters, 01.15.03, 6:24 PM ET

CARACAS, Venezuela, Jan 15 (Reuters) - Venezuela's opposition on Wednesday extended for a 46th day a protest strike aimed at pressuring President Hugo Chavez to resign and call elections in the world's fifth largest oil exporter.

The opposition stoppage, which began on Dec. 2, has cutback Venezuela's vital petroleum production, hiked oil prices and inflamed the feud over ex-paratrooper Chavez's rule. Venezuela usually supplies about one sixth of U.S. oil imports.

"We will stay in the streets, defending the country," anti-Chavez business leader Jose Luis Betancourt told reporters.

Opposition leaders and rebel managers at state oil firm PDVSA have promised to maintain the shutdown until Chavez quits. But the combative president has dismissed calls for early elections and scoffed at charges from foes of corruption, economic mismanagement and authoritarian rule.

Chavez, who was elected in 1998 and survived a coup in April, has vowed to defeat the strike, which he dismisses as an attempt to topple him illegally through oil industry sabotage. Oil sales provide about half of government revenues.