Bolivarian Mini-Me Angry at Adam Smith
Posted by TFG on 4th October 2006
Chavez says oil should not fall below $60 a barrel
I simply love it when the laws of the market pimp-slap a Commie. Purely makes my day.
Venezuelan President Hugo Chavez said on Tuesday the price of oil should not fall below $60 a barrel, two days after the OPEC country cut its production to stem price declines.
Oil has tumbled more than 20 percent from peak levels of close to $78 per barrel in July, sparking concerns among some producer nations of a prolonged slump in oil prices.
Chavez said he had ordered Venezuela’s cut of 50,000 barrels per day because oil prices had fallen to $65 a barrel, in an apparent reference to world crude prices — as opposed to Venezuela’s own cheaper crude.
“The price of a barrel of oil today should not fall below 60 dollars. That is a fair price,” he said in a speech promoting Venezuelan scientific programs.
Suck it, Hugo. And keep boycotting Citgo, yall.
PS I wonder how those “poor communities” here in the good old USA that were promised cheap Venezualan oil last year are doing these days. Does anybody know if they signed contracts with this tool?
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