Even though Venezuelan President Hugo Chavez has been quite generous with his country's oil recently (selling it cheaply to residents of New York City
, for example), the country is not counting on the fossil fuel to be around forever. Last week, Chavez visited
Malaysia and went to a biodiesel
plant run by Golden Hope. Venezuela may get biodiesel assistance (for example, how to increase palm oil crop yields) from Malaysia. Chavez said that since the two countries sit on about the latitude they could share information. Golden Hope's group chief executive Datuk Sabri Ahmad said the company could sell its GH 500 series planting material, which is capable of yielding 40 tons of fresh fruit bunch per ton, to Venezuela.
[Source: Daily Express