Hugo Chavez Still Haunts Venezuela
Image Credit: The Economist Magazine. To understand why Senator Elizabeth Warren’s 11 Principles of Progressivism might as well have come chapter and verse from one of Anton LeVay’s Satanic Bibles, it helps to look at what life is like in a place that is governed by an unabashed cleric of the Progressive Religion. Venezuela bore the weight of living under Hugo Chavez from 1999 to | Read More »
Energy Week in Review
Dispatch from the Oil Patch for the week ending March 8, 2013.
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Uncle Hugo Plays Hardball With U.S. Drilling Firm
The downturn in energy prices is putting a cash flow squeeze on all producers, including the national oil companies. Many of them made long-term commitments to use equipment at dayrates reflective of $140 oil. Now, with oil at $40/bbl, those commitments made a mere 6 months ago seem short-sighted. Petrosucre, a joint venture of Venezuela’s state-owned oil company PdVSA and Italian giant ENI, entered in | Read More »