The Bennies elected him.. More power to them. I hope they enjoy the slow ride to an economic melt down!
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Ah, so he's decided to eliminate any incentive to improve the systems and infrastructure, and allocate resources by rationing?
Yes, and it's picking up speed. A few days ago, he said he was going to nationalize various crude producers/refiners only "partially," by renogotiating the contracts so that VZ would have a bigger share. The rumor was that it would want a majority share and I guess the rumor was right. If he's even going to go through with the contract farce.
I wonder if he'll be able to get away with this.
"But he said he would permit foreign firms to hold minority stakes in energy deals." He still needs our investment money, but doesn't want to guarantee it won't be confiscated at some point. Communism has never worked. It won't this time, either. The only reason Russia survived as long as it did is that the West loaned the Soviets money, beginning in the 1920s and continuing through the Cold War. Chavez is headed for the kind of ending Mussolini got.
Any private company, working in Venezuela has seen this coming for years, and have made plans to deal with it, but the U.S. response will be interesting to see when and if we do strike back.
Look for Citgo in the U.S. to be divested and I expect a complaint and suit to be filed in the World Court.
At some point, there will be a revolution funded by us, and it will certainly be a predecessor to our eventual engagement with Iran through proxies.
It's going to be a exciting couple of years.
Communism is very dead, it's practitioners are simply insane, however (under Einstein's definition of insanity).
BTW, this is an excellent opportunity for ambitious economists to demonstrate the stupidity and utter failure of national collectivism.
Communism marches on. The alliance of the left and the jihadists is alarming.
You can almost hear the capital in that country screaming to escape.
Iran and Venezuela Plan Anti-U.S. Imperialism Fund
Venezuela's Hugo Chavez and Iran's Mahmoud Ahmadinejad -- fiery anti-American leaders whose moves to extend their influence have alarmed Washington -- said Saturday they would help finance investment projects in other countries seeking to thwart U.S. domination.
The two countries had previously revealed plans for a joint $2 billion fund to finance investments in Venezuela and Iran, but the leaders said Saturday the money would also be used for projects in friendly countries throughout the developing world.
"It will permit us to underpin investments ... above all in those countries whose governments are making efforts to liberate themselves from the (U.S.) imperialist yoke," Chavez said.
Contract with the devil?
http://www.citgo.com/CommunityInvolvement/HeatingOil.jsp
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The CITGO-Venezuela Heating Oil Program is targeting more than 100 million gallons to more than 400,000 households in 16 states, more than doubling the commitment made last year.
"We are more than just an oil company. We are neighbors and friends who care for those in need," said CITGO President and CEO Félix Rodríguez. "This is a people-to-people program that comes from the heart of Venezuela to the homes of American families who just can't pay their energy bills."
The program, being implemented in partnership with Citizens Energy Corporation, was created in 2005 to offset a perfect storm of catastrophic events within some of the poorest and most vulnerable communities in the United States. Decreased supplies, resulting from hurricanes Katrina and Rita, led to steep increases in fuel costs while cuts in the federal Heating Oil Assistance Program placed unbearable burdens on family budgets already stretched thin.
I.E. Hugo should surrender Citgo corp and all assets of it in the US to the US government, otherwise Hugo a hypocrite
I mean Hugo thinks private property should be nationalize ( owed by the local national government ...)
Well here in the US...Venezuela's property in the US is private property an the US government is the local national government....
So come on Hugo hand over Citgo to George Bush ... in fact screw what Hugo wants in the US ...George just ask you self "What would Hugo do" and just take Citgo
And if any of the left doesn't applaud there hypocrites
I hope Chavez self destructs very soon. He is a real problem in our own back yard.