"Venezuela's parliament gave President Hugo Chavez decree powers for 18 months on Friday, outraging opposition parties that accused him of turning South America's biggest oil producer into a dictatorship.
The move ...raised the prospect of a fresh wave of nationalizations as the former paratrooper seeks to entrench his self-styled "revolution."
...the president can rule by decree until mid-2012, and can keep opposition parties out of the legislative process until his re-election campaign is well under way for Venezuela's next presidential vote in December of that year.
In the past he has used the fast-track powers to pass about 100 laws, including measures to nationalize part of the oil sector and increase the number of Supreme Court judges."
Reuters
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