Posted on 03/24/2008 5:17:55 PM PDT by OKIEDOC
CARACAS, Venezuela | President Hugo Chavez has spent billions of dollars of Venezuelas oil revenue to challenge U.S. interests, build influence around the world and fund a socialist revolution at home.
Yet as Chavez moves from one international crisis to another most recently a near military confrontation with neighboring Colombia, an important U.S. ally many wonder how long his oil-funded wild ride will last.
Not long, analysts in Venezuela and abroad said, if production continues to decline at the countrys state-run energy company, Petroleos de Venezuela S.A., known by its Spanish initials PDVSA.
The state oil company is responsible for 80 percent of the exports, but analysts think that it is falling apart.
PDVSA is a company on the border of collapse, said Robert Bottome, the editor of the newsletter VenEconomia. You dont have people, you dont have a corporate strategy and you dont have money.
(Excerpt) Read more at kansascity.com ...
Don't believe for one second that Obama is naviete about what he wants to do if given the chance to rule over America.
Hugo is a fine example of Progressive Liberal ideals, AKA Socialism.
I guess Joe is already making overtures to Mahmoud to supply Joe4Oil. As Hugo runs PDVSA/Citgo into the ground.
How long did Castro last?
Comment:
Castro lasted as long as he did because all of his dissenters and opposition groups immigrated to America.
Looters never win.


Bush: "YEAH, Yeah, yeah, WHATever... just fill'er up MonkeyBoy!!!"
Great point. Now, I just hope Chavez doesn't read Free Republic(!) (Otherwise he might be buying the tickets here for his own dissenters)
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