London will aid Venezuela in environmental protection techniques while Venezuela sends oil to London at a 20% discount rate to be used in buses and trams. Those in London benefitting from this deal are individuals with lower incomes.
The article reads:
The British capital will save about 16 million pounds out of the 100 million pounds that it spends annually to fuel its 8,000 buses.
In exchange, the Greater London Authority will dispatch to Venezuela experts in recycling, waste management, traffic planning and reducing carbon dioxide emissions blamed for global warming.
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I don’t forsee any problems arising from this deal as both countries share their acheivements and advantages with each other. London will recieve more of an imminent result. Critics believed that this was a ploy by President Chavez, who intoduced the deal in 05, as a way of “bartering its main resource to one of the world’s richest cities.” It is beneficial, no doubt, for Chavez to have a largely populated city use his oil. I am glad that he sees the environment as a worthy return for oil, which the world is so dependant on.
