yeah and I thinkj opec has glutted the market to reduce what mahmoud and chavez can profit from creating economic hardships. Chavez and ilk certainly are cutting their own throats- but Chavez denies he will be hurtiung and claims he has enougfh other countries willing to buy from him- we'll see though how long he can hold out.
We should actually be accepting his cheap oil and putting it both into reserve, and in a 'semi-reserve' as well, something with less restrictions that can be quickly tapped if prices go nuts again.
Chavez and leftist media that helps him toot his horn fail to tell their faithful leftist readers that all those other countries Chavez claims will line up and buy his oil haven't any refineries capable of refining his low grade tar. It wouldn't be worth the cost of shipping it to China.
Maybe the whitehouse is just waiting for Chavez to put his money where his mouth is. So far it's just all hot air. We'll just have to wait and see where oil prices go I suppose. Something has to happen fairly soon.