Article

2010-01-28 Caribbean-Latin America

Chavez Furiously Backtracking As Venezuela Petro-Economy Deteriorates

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Posted by Steve White 2010-01-28 00:00|| || Front Page|| [5 views ] Top

#1 What you need, Hugo, is *more* socialism. Go nationalize something. Nothing like nationalizing industry to reassure foreign investors.

Posted by SteveS 2010-01-28 00:22|| 2010-01-28 00:22|| Front Page Top

#2 "I demand that more wealthy capitalists move here so I can steal their stuff."

Posted by Anonymoose 2010-01-28 06:02|| 2010-01-28 06:02|| Front Page Top

#3 I'm treating with scepticism the IEA projection that world oil consumption peaked for good a couple of years ago, but if true, it will have some interesting consequences.

Posted by phil_b 2010-01-28 06:23|| 2010-01-28 06:23|| Front Page Top

#4 "Peak oil" redefined, eh, Phil?

Posted by KBK 2010-01-28 11:37|| 2010-01-28 11:37|| Front Page Top

#5 It appears the Chinese are about as interested in Hugo's oil as they're becoming in Treasury Bonds.

Posted by Procopius2k 2010-01-28 12:45|| 2010-01-28 12:45|| Front Page Top

#6 The statement is a serious turnaround for a government that has nationalized dozens of foreign oil companies in recent years.

This isn't backtracking. Backtracking would involve returning nationalized assets to their original owners. Chavez isn't backtracking - he's merely asking foreign investors to add to the list of assets he can steal in the future.

Posted by Zhang Fei 2010-01-28 14:28|| http://timurileng.blogspot.com 2010-01-28 14:28|| Front Page Top

#7 Investment and experience from foreign oil firms is necessary in Venezuela. We need it.

Heh heh. After you screwed over the foreign oil companies? Fat chance. Time for your payback, Oogo. Bend over.

Posted by gorb 2010-01-28 17:27|| 2010-01-28 17:27|| Front Page Top

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