Thursday, January 15, 2009

Feel Good story: Chavez begs oil companies, may lose power due to low crude price

Found the story here:
Oil: Our Biggest Ally
At its current price of $33.52/barrel, oil has moved below its closing low of $33.87 on December 19th. Along with acting as an effective tax cut for US consumers, at least oil's decline is also causing a severe about face for a dictator who hates the US. With a few more months of declines, oil could end up getting rid of the all of the leaders of oil-rich countries that dislike the US as their people revolt. Who would have thought oil could be such a key ally of the US!

The in depth article:
Hugo Chavez Begs Western Oil Companies To Come Back
Kicking out foreign oil companies from Venezuela made so much more sense when the price of crude was over $100, and the inefficiencies of a state-run firm could be washed over in sea of cash. Now with oil in the mid-$30s, the rocky river bottom has been exposed and Hugo Chavez is begging for help once again.


The thug, friend of Iran, Hezbollah and other terrorists - won't be missed.

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