Posted on 02/09/2009 7:36:00 AM PST by Free ThinkerNY
The collapse in oil prices has hit OPEC nations hard, but perhaps none more so than Venezuela. Hugo Chavez apparently put more of his profits into his socialization programs than in paying contractors for their work. Now they have stopped working altogether as Chavez has no money to pay their past-due notices, which will curtail production just when Chavez needs it most:
Venezuelas state oil company is behind on billions in payments to private oil contractors from Oklahoma to Belarus, some of which have now stopped work, even as President Hugo Chavez funnels more oil revenue to social programs.
(Excerpt) Read more at hotair.com ...
Ping.
Quick! Hugo needs a bailout!
Great. More refugees. Obama will bring them all in along with Hamas. We need states rights fast. Every state needs to be working on it.
Can’t he just print up a few trillion? It worked in Zimbabwe, and it’s working here.
Aww, that's a shame.
I hope it doesn't hurt his popularity...
Maybe Joe Kennedy can round up his friends to bail-out Hugo.
I think our concern should be China and Russia’s taking advantage of their financial misfortune.
Couldn’t happen to a nicer guy. Once again, the people suffer at the hands of the leadership. Pitchforks for everyone.
Sure.
And I’m certain Sean Penn will kick in some of his “Milk” money.
I read “Atlas Shrugged” last spring, just in time for it all to start coming true.
I saw an article about this; but wasn’t sure what to make of it??
http://freedomarizona.org/2009/02/05/9-states-quietly-declare-their-independence
If you read into the story, it seems that this is not something that is happening immeadiately, but has been ongoing since the mid-90’s with some recent additions to states asserting independence.
I still don’t know what to make of it, but am getting the feeling that when the fence does eventually go up that I want to be on the side with right to bear, property rights and free speech.
Could the USA be on the same glide path as Venezuela under the direction of Barack?
As they have already in Africa where bribes are OK ......
So much for Hugo’s Russian-built submarine fleet. Maybe he can get the $500M down payment back from his friend Vlad.
I wouldn't be the least surprised if Obama lent a hand to a fellow traveler on the road to serfdom.
Oh, I don't know ... there's a rather fine tradition of gorgeoud Miss Venezuela ...
we could surely fit in a few of those!
Pelosi, Reid and Obama are frantically trying to save their favorite comrade Hugo Chavez.
awwwwww
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