Now watch them all cry poor…

Damn that irrepressible Chavecito, he’s sure keeping me hopping with all the news about him today. Get a load of his latest zany antic

Venezuelan leader Hugo Chavez has called on oil-rich nations to dramatically reduce what they charge poor countries for the commodity.

The poorest countries should only pay about $20 (£9.60) for a barrel of oil compared with current market prices of more than $90, Mr Chavez said.

Opec members should set aside $100bn from oil revenues to improve education and health in poor nations, he added.

Mr Chavez said he was seeking debate on what he said was “an explosive issue”.


Explosive? Sheeee-yeah. Everywhere I look lately, I see wingnuts mumbling and grumbling about how Chavecito’s grand schemes would collapse if oil ever went down to $7 a barrel. Some of them are actively wishing that Venezuela had stayed a Spanish colony, or that Spain would crack down and take the country back.

Well, wingnuts, keep dreaming, ’cause it ain’t gonna happen. Peak Oil is past, and so is the point of no return. At this rate, the price of oil will never again hit those halcyon lows, and it’s a good thing too. Since Venezuelan heavy crude needs higher prices to offset the costs of refining it, that means more bucks for the poor down there.

And for those ecologically-minded, being forced to rethink your fossil-fuel-burning habits is also a Good Thing. If it takes higher oil prices for the affluent gringos to learn economy, fine. So be it. Hybrids, electric cars, fuel cells, public transit, bikes–bring ’em. As long as people don’t buy any more of those goddamn butt-ugly Hummers.

Now, as for Chavecito’s proposal: I think it’s got legs. The rich country’s $100 barrel will more than subsidize the poor one’s $20 barrel. Wealth redistribution is no longer a subject of debate as far as I’m concerned; it’s a MUST. And this is as good a way as any to do it.

Of course, that being said, I predict a great many rich countries will suddenly declare bankruptcy. Ojo pelao, Chavecito!

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2 Responses to Now watch them all cry poor…

  1. Slave Revolt says:

    Bina, I concur. Wealthy nations should be paying much more than 100 per barrell because of their wasteful, profligate ways.
    Really, $3.00 per gallon of fuel has done nothing, maybe $4.50 will, maybe.
    If ecological mitigation was added to the price per gallon, it would be at $10.00.
    Chavez is bold in tring to unite the victims of capitalist tyranny and imperialism. This is a refreshing change from politicos that merely strive to stuff their pockets and shut up.

  2. Wren says:

    Just wanted to let you know that fuel cells use hydrogen and the only cost effective means of extracting hydrogen is from…hydrocarbons i.e. oil and natural gas. It means instead of your car polluting, it’s all done at the hydrogen refinery. It’s a boondoggle just like bio-fuels. It’s a way for Big Oil to stay in control of the supply of energy. http://en.wikipedia.org/wiki/Hydrogen_production
    Plug-in Hybrid Electric Vehicles are the best solution so far. With advances in battery technology, the amount of gas needed to extend their range will continue to drop. This technology is over 30 years old today and some were designed with small turbine engines that could burn just about any fuel and only had one moving part. For most trips, they wouldn’t even need to use any fuel as, unlike standard hybrids, the electric motors are what turn the wheels and the gas engine only charges the batteries for long trips.
    As for this making rich countries invest in alternative energy, the technology for electric cars and plug-in hybrids is decades old. They have been a viable solution that cuts costs for the consumer even when gas was under $2.00 a gallon. As long as Big Oil is allowed to contribute to political campaigns and hold sway over car manufacturers, they will keep crushing those electric cars.
    No plug-in hybrids in the near future according to this site: http://www.motortrend.com/future/

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