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Chavez hosting summit on energy Ethanol to dominate energy summit
(about 6 hours later)
The pros and cons of ethanol and plans for a 5,000 mile natural gas pipeline are top of the agenda at the South American Energy Summit in Venezuela. The pros and cons of ethanol production are set to dominate an energy summit of eight Latin American nations which has got underway in Venezuela.
The two day summit on the Caribbean island of Margarita is being hosted by Venezuelan President Hugo Chavez. Venezuelan President Hugo Chavez is at odds with Brazilian counterpart Luiz Ignacio Lula da Silva over the scale of ethanol output in developing countries.
Venezuela is the region's only member of the oil-producers' cartel Opec and Mr Chavez opposes the use of ethanol.Venezuela is the region's only member of the oil-producers' cartel Opec and Mr Chavez opposes the use of ethanol.
He is expected to give more details of a proposed gas pipeline between Venezuela and Colombia. Brazil recently signed an alliance with the US to promote ethanol production.
The Venezuelan energy minister Rafael Ramirez says the plan would involve investing $10m (£5.02m) on improving the quality of life in villages along the route of the pipeline. 'South American homeland'
Ethanol as a biofuel President Lula has rejected criticism from President Chavez and others that the use of ethanol as a biofuel would use up valuable arable land and increase food prices.
Brazil's President Luiz Ignacio Lula da Silva has rejected criticism from President Chavez and others that the use of ethanol as a biofuel would increase food prices.
Brazil is a pioneer in the use of ethanol made from sugar cane to power cars.Brazil is a pioneer in the use of ethanol made from sugar cane to power cars.
"All South American countries and Africa can easily produce oil seeds for biodiesel, sugar cane for ethanol and food at the same time," Mr Lula said on his weekly radio programme."All South American countries and Africa can easily produce oil seeds for biodiesel, sugar cane for ethanol and food at the same time," Mr Lula said on his weekly radio programme.
Mr Chavez says he does not plan to pick a fight with the Brazilian leader. Welcoming the leaders to Venezuela, Mr Chavez said increased economic co-operation was needed as a counterweight to US power in the region.
"The issue is not ethanol as an additive," he said. "We are above all South Americans," he said. "We should put all efforts into creating the great homeland that is South America.
"The issue is the US empire wanting to substitute gasoline with ethanol - that's crazy." Also on the agenda for the two-day meeting is a proposed continental bank to rival institutions like the International Monetary Fund and plans to build a 5,000 mile natural gas pipeline between Venezuela and Colombia.
The Venezuelan energy minister Rafael Ramirez said the plan would involve investing $10m (£5m) on improving the quality of life in villages along the route of the pipeline.
The gathering is taking place on the island of Margarita.