January 16, 2009

AUTOPHILIA IS THE PROP OF EVIL:

Chávez Lets West Make Oil Bids as Prices Plunge (SIMON ROMERO, 1/15/09, NY Times)

President Hugo Chávez, buffeted by falling oil prices that threaten to damage his efforts to establish a Socialist-inspired state, is quietly courting Western oil companies once again. [...]

[T]he shift...shows how the global financial crisis is hampering Mr. Chávez’s ideological agenda and demanding his pragmatic side. At stake are no less than Venezuela’s economic stability and the sustainability of his rule. With oil prices so low, the longstanding problems plaguing Petróleos de Venezuela, the national oil company that helps keep the country afloat, have become much harder to ignore.

Embracing the Western companies may be the only way to shore up Petróleos de Venezuela and the raft of social welfare programs, like health care and higher education for the poor, that have been made possible by oil proceeds and have helped bolster his popular support.


Hugo is just one of the externalities that those who oppose gas taxes impose on others.

Posted by Orrin Judd at January 16, 2009 7:07 AM
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