[Capt. Tom]

Venezuela, mired in a recession and with the highest inflation rate in the Americas, is suffering from chronic shortages of goods ranging from diapers to flour that have worsened this year due to an ebb in deliveries during Christmas.

From what I have read from many sources the price of a bbl of oil is going to remain down thru at least 2015.
This is a big reason Venezuela, and Russia are on the economic ropes.
This is going to be an interesting and explosive year between the actions of the Muslim Fundamentalists and the economic problems of many oil producing countries worldwide. -Tom

[thackney]

Algeria, Iran, Nigeria and Libya are also in extreme pain at these prices.

http://graphics.wsj.com/lists/opec-meeting

[Enlightened1]

Venezuela is certainly on the ropes. Their Socialist economy will not survive.

On the other hand Russia is a little more tricky since they are economically, like China , Capitalist.

Moreover, China is helping them out, and getting dirt cheap oil while they are at it.