“Mr. Chavez, Is Your Credit Rating Important To You?”
It must be interesting to make collection calls to the presidential palace in Caracas: Venezuela’s 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. Petroleos de Venezuela SA, or PDVSA, says unpaid invoices jumped 39 percent in the | Read More »
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 »
“The Electorate’s Lips Say ‘No,’ But Their Eyes Say ‘Yes!'”
Having lost a national referendum to remove term limits on the office of the Presidency, Venezuela’s Hugo Chavez has decided to . . . well . . . hold a national referendum to remove term limits on the office of the Presidency. The man is nothing if not determined. Of course, the determination is to remove all vestiges of democracy from Venezuela, but that is | Read More »
Breaking: Terrorists Launch Rockets at US Cities from Mexico*
Terrorists today launched short range rockets at US cities from Mexico. It is not yet known exactly where the rockets landed and preliminary damage reports are still being investigated. The perpetrators have not yet been positively identified, however terrorist groups including Hamas, Hezbollah, the Palestine Liberation Front and the Palestine Liberation Organization have previously been identified by the US government as dealing in drugs | Read More »
Good News From Venezuela
Gradually, Hugo Chavez is getting his wings clipped: Venezuela’s growing opposition and President Hugo Chavez’s left-wing party shared the spoils from weekend elections as they jostled for political momentum in the OPEC nation on Monday. The multi-party opposition eroded Chavez’s dominance of regional politics, winning six top posts that govern over almost half of the population, although his Socialist Party took a clear majority of | Read More »
Why not Obama?
If Obama wasn’t an African-American he wasn’t going to be where he is in this race. The cosmopolitan part of America is matching the need for change with the change of race or color and not the ideas. Does this mean that if in need for change, America after 8 years should elect an Asian-American, Albanian-American, Latino-American, Native American or a woman? The only good | Read More »
Raise your hand if you are surprised by this: Venezuelan President Hugo Chavez threatened on Saturday to imprison his main political rival, intensifying a campaign against a man he calls a crime boss just a month before he faces tough regional elections. Opposition leader Manuel Rosales, who lost to Chavez in the 2006 presidential vote, is governor of the oil producing state of Zulia and | Read More »
I Would Delight In The Schadenfreude . . .
But after having read this story, I feel more sorry for the people of Venezuela than I do happy to see yet another indication that the regime of Hugo Chavez is failing to provide basic services: Despite having some of the world’s largest energy reserves, Venezuela is increasingly struggling to maintain basic electrical service, a growing challenge for leftist President Hugo Chavez. The OPEC nation | Read More »
Way To (Hu)go
Remember, as you read this that it is more important to feel pity for the people of Venezuela than it is to feel schadenfreude over the potential political trouble that Hugo Chavez might get into thanks to his bungling and incompetence: Venezuela’s daily oil production has fallen by a quarter since President Hugo Chavez won power, depriving his “Bolivarian Revolution” of much of the benefit | Read More »
Russia and Venezuela Kissing in a Tree…….
Earlier this spring, Barack Obama made a comment on how Venezuela was a “tiny country” that posed no serious threat to the United States. However, his world tour consisting of photo ops with world leaders and then negotiating a dealy in troop withdrawls behind President Bush’s back was supposed to reassure everyone that he’s not the foriegn policy idiot we all know he is. Consider | Read More »
I’ll Ask This Question Again
Can we call Hugo Chavez a dictator now? Venezuela brusquely expelled two activists from U.S.-based Human Rights Watch on Friday who had accused President Hugo Chavez of political intolerance and eroding democracy during nearly 10 years in power. State television played a video of officials reading an expulsion order to activists Jose Miguel Vivanco and Daniel Wilkinson, who were filmed packing their bags and being | Read More »
Spheres Of Influence
The Russian counterargument to what it perceives as Western imperialism and interference concerning issues like Russo-Georgian relations and the status of relations between Russia and other former Soviet states in general is that Russia is merely exercising its power in its own sphere of influence. Implicit in that argument is that Russia would not interfere in the spheres of other great powers and especially not | Read More »
Points For Persistence . . .
But not much else; while Venezuelans had rejected efforts by Hugo Chavez to essentially install himself as dictator for life, it now appears that Chavez is back to his old tricks: Opponents of President Hugo Chávez of Venezuela are up in arms over a raft of decree laws they say replicate constitutional reforms rejected by voters last year. A package of 26 laws, enacted on | Read More »