Friday, January 22, 2010

Venezuela May Have Double Saudi's Oil Reserves

A new US appraisal of Venezuela's oil reserves may put it at twice what Saudi Arabia has. Aww, all that oil in the hands of someone who isn't quite the same pliable stooge that the Saudis are - what a shame (ie. I'd bet a coup isn't far off then). It may also affect our assessments of 'Peak Oil'.


Arvind said...

There is no need to eulogize Hugo Chavez. He is not just a Communist but is himself guilty of an attempted coup in 1994 during which he killed several innocent people. If you're saying that US will engineer a coup in Venezuela, you're saying that the US will do a great service to humanity. However, I doubt that will happen. The more likely scenario is that Chavez will do something really stupid like getting into a war with Colombia at which point US will jump in and smash him.

san said...

Chavez is an unabashed left-wing socialist, it's true. But as I've said before, we need to side with the Latin American socialists, who are the only force standing up for their local indigenous culture and against European domination. All the religious proselytizers and European interests are aligned with the entrenched business class there.

I think that only Asian business interests can form a useful alliance with Chavez to take on the existing Euro-dominated business interests and their religious cronies.

Spitting on Chavez now only amounts to hoping that the Euro-dominated business interests and their religious allies will prevail.