And Who Are They Buying From?

A Connecticut-based think-tank is saying Venezuela is out to rebuild its armed forces -- including its air fleet -- after a falling out with the United States.

ForecastOne's Latin American Analyst, Tom Baranauskas, says Venezuelan President Hugo Chavez wants to buy up to 50 new fighter aircraft, and about as many ground-attack planes, over the next six years.

"The viability of the revitalization program is very much dependent on oil prices remaining strong," said Baranauskas, "with ambitious government plans to increase social spending also likely to be vying for the windfall oil income."

And the way things are going between the US and Venezuela right now... don't count on any of that hardware coming from Washington. According to ForecastOne, the countries most likely to gain in Venezuela's quest to bolster its forces include Brazil, China, Russia, and Spain.

Venezuela's plans to rearm could further destabilize an already precarious region, said Baranauskas -- but local concern could pale in comparison to how the Bush administration views the Chavez regime.

If Venezuela continues with its plan, it would be the leading arms buyer in Latin American throughout the decade, according to ForecastOne.

FMI: www.worldairforces.com/Countries/venezuela/ven.html