Posted on 04/11/2007 6:35:02 AM PDT by Kitten Festival
Energy: Venezuela's oil exports to the U.S. are falling sharply. But that won't make Hugo Chavez less of a problem for us. Without his oil earnings, the communist dictator is likely to be more trouble than ever.
The latest figures from the U.S. Energy Department show a long slide in imports of oil from Venezuela, a nation that as recently as 1998 was our top energy supplier.
In January, Venezuela's exports to the U.S. fell below the 1-million-barrel mark. Only 955,000 barrels a day were shipped that month, far less than the 1.2 million barrels sent in January a year earlier. Now Venezuela is our fifth-biggest supplier, as 12 of the top 15 foreign suppliers have raised their energy exports to the U.S.
Given Chavez's anti-American sentiment, and his threats to cut off oil to the U.S., some might view this as a good thing. But short term, oil prices will rise worldwide as Chavez continues to mismanage resources like a wastrel blowing his inheritance. Longer term, his policies will drive Venezuela's economy to collapse. Worse still, the damage from a lack of investment will outlive Chavez.
(Excerpt) Read more at ibdeditorials.com ...
No mention of the Venezuelan oil Joe Kennedy is giving away for votes...
So I guess we should buy more oil from Chavez so things wont get so bad so much quicker.
I applaud the American people for not buying gas at Citgo and hope to see the figure down to zero.
” Chavez is unlikely to go down without a fight, and his remaining weapon of control for an angry citizenry will be Cuba-style repression. There are signs this is starting already. “
These last couple of sentences finally get to the heart of the matter — authoritarians don’t play by the rules.
“Never assume that your enemy is making the same calculations that you are...”
However at the same time Canadian X-heavy crude is coming on line at a very fast rate from the Alberta tar sands - recoverable amounts are estimated in the many billions of barrels....
How can a nation, with vast oil and mineral resources, a booming tourist economy and a educated populace, be reduced to near bankruptcy in so few short years?.............one word: SOCIALISM................Ditto: Zimbabwe.............Ditto: Cuba.............Ditto: USA?..........
Or one can ask how a crazy communist dictator can come to power. Just as in Cuba, there was no conncern about opportunity for the lower classes, or the prosecution of corruption when times were good.
How do you say ‘Oil is fungible’ in any language?
Castro came to power thru revolution and violence. Venezuela elected their dictator, apparently honestly, but now will be there for life, whether they like him or not...........
What you say is true, and so is what I said. Neither would have been successful, otherwise.
"despues que yo muera va quedar la cagada"
The people will get what they deserve, but their children will have to clean up their mess.
Despues de mi, el delugio.
So just how does the commie justify stealing that from the Venezuelan people he claims so vociferously to represent?
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