PINR - Venezuela Moves to Nationalize its Oil Industry: " atin America's shift from the Western sphere of influence and toward an independent path is a major current of the recent years. Venezuela, the world's fifth-largest oil producer, has spearheaded this change by exploiting soaring global oil prices in order to pursue a 'Bolivarian' economic model detached from the Washington Consensus. [See: 'Venezuela's Hugo Chavez Makes His Bid for a Bolivarian Revolution']"