At least until people stop buying the stuff from you, Hugie.
I hear that the people there on pay $.12 a gallon for gas. He best get the money someplace or even his people will be up in arms.
As Zimbabwe goes, so goes Venezuela ...
Sounds like the ideas in Hillary and B.Husein O’s.playbook are being put to the test.
That $9 Billion dollars will cost Venezuela somewhere... my guess is higher productivity costs when less and less companies are willing to spend to improve infrastructures... so go ahead Hugo... show the world exactly why socialism and communism fails over and over again...
Incentives for the oil companies to seek under hundred dollar pricing per barrel, since $117 means they make an extra 51 cents. Then again, a hundred dollars a barrel, they make $2.10.
It took four people to report, write and edit that amazingly short article?
While it is obviously irrelevant since the rationale is disingenious, still, how did Chavez and Co. come up with $70 as the breaking point? There is of course zero incentive now for Chavez and Co. to assist in any way to lower oil prices. By creating this windfall law they are making residents (and more so, cronies) dependent on the law's income which in turn creates a disincentive for oil companies to invest which lowers output which....brings us back to point 1.
Naomi Cambell, Sean Penn and the rest of the far left syncophants are just as to blame as their idol of socialism, Hugo Chavez.
If we had a CIA worthy of one hundredth the abuse the Left heaps on it, Chavez would have been dead for a decade.