Will cheap oil compromise Venezuela´s revolution?

[portsmouthy]

Inshallah ..

[TuttiOfruti]

why does life in venezuela sucks so bad.... or is it that the whole world sucks ass?

[SuperiorHuns]

Greetings from Hungary - Europe.

International bankers MUST DIE !!

ALL JEWS MUST DIE !! VIVA VENEZUELA !!

VIVA  HUGO CHAVEZ !! GOOD BLESS YOU PEOPLE !!

KOMUNIZMUS is the ONLY way to have god, and nice FUTURE !!!

[MasterPervy123]

VIVA HUGO CHAVEZ

FUCK usa

[LSP570]

@MasterPervy123

hahaha.... hugo chazez is going to get murdered this year....stupid idiot thinks that oil is the future but for us in the usa, we already know that the future is no use of oil or diesel. for the main purpose of not supporting these countries and their regime. I sold all 3 of my cars recently to endorse this. many people I know are doing the same, what are you going to do when your dumbass pres puts all your countries future into an obsolete commodity?

fuck venezula. & fuck you.

[polygamous1]

international bankers MUST try n destroy Russia to be able to implement their diabolical NWO n as they been given the right to print $ without reserves or us gov control they had to destroy the price of oil to try n destroy Russia every country owes money except Russia who to? the IMF WORLS bank n WTF owns them? the same bankers that own america n the federal reserve its diabolical! for americans to pay their taxes to this Private IRS pay me too guys they have ruined the us n its constitution

[hugocaracas2021]

Yes here we doing fine, just fine lots of money!!!. In Venezuela our glorious Comander have elminite commpletely the poverty., Now no hunger, no poverty, fulll health for everyone. For example me I now have my own company produce T-shirts, own a hotel, have my own car given by Chavez (a Hummer!), and I doing fine. Patriots doing fine, but fascists are crying now!!! Long live the Stalinist Revolution of Venezuela!!!

[scalesofjustice0]

This situation seems to cause Venazuela to fold...because Chavez will not give in...so America wants to starve them like other countries.

[Eudoxio80]

"To know what is right and not to do it is the worst Cowardice." - Confucius

"It's not living that matters, but living rightly." - Socrates

"Justice in the life and conduct of the State is possible only as First it resides in the Hearts and Souls on the Citizens." - Plato

[Xenu]

Viva Chavez! If there is hope in the world it lies with Latin America.

[Ripley01]

Chavez forgot to study up about "diversification" in college ...

[freesk8]

Chavez nationalized the oil industry.

That was a theft.

Then when they operated the wells, they could not achieve the same high levels of production as the private sector could.

Now they are surprised that one-party rule yields corruption and inefficiency.

The oil revenue is funding the military, but the big threat is not Columbia. Chavez is worried about further electoral losses and demonstrations. He needs to maintain control, and just like any dictator, he will rely on the military.

[left888]

Nationalising the oil is not a theft. The oil doesn't belong to some company; it is a part of the Earth and the Earth belongs to the people.

Compare the poor people in the barrios who are now getting some education and healthcare from the oil revenues to the fat cats who used to take most of the oil monies; then lets decide who is the thief.

Incidentally, the previous governments were much more corrupt than this one. Its a feature of third world countries (and sometimes 1st world countries)

[freesk8]

You say the oil belongs to the people. But right now, in Venezuella, it is not owned by the people. It is owned by the government. Big difference, my friend. Try going up to Hugo and asking for your share of the oil, if it is owned by the people. Ownership means control, and the oil is controlled by the government, not the people. The government has become the new fat cats.

What we need is limited government, and defense of the property rights of the poor. Then the people will have power.

[NathanZackery]

Yes, what you say is true. But I can't blame Chavez for nationalizing the oil since so much of the profits from it was leaving the country. At least the nationalized oil money means that taxes can be low for a while.

[freesk8]

I'll bet that the license fees and taxes and local salaries that the for-profit corps paid in to Venezuela before nationalization, exceeds the net profit and local salaries now paid to Venezuela after nationalization.

The difference is efficiency.

Government monopolies tend to be horribly inefficient, and prone to cronyism.

[markonikko108]

Well...instead privat companies tend to be wonderfully efficient...like:Lehmann Brothers,Royal scottish Bank,General Motors,Crasley,Ford and the rest who lost at least 40% of his value in 6 months...

[freesk8]

Lehman went bankrupt because they performed poorly, and the stockholders lost their money. But when the government runs something, they tend to run it even more inefficiently because there is no fear that they will ever go bankrupt. The taxpayers will always be forced to subsidize it, no matter how inefficient it gets.

But if a government-owned enterprise IS allowed to go under, it is the unwilling taxpayer who takes a bath!

I'd rather the private stockholders were on the hook.

[markonikko108]

but yhe Tax-payers pay only illegal debts to Private Banks,which are owned by few families,the same families in the last centuries(!).So what is this joke ?We pay taxes to pay interests that does not exist.

$ il paper,paper nothing more then paper,made by privat companies.

[freesk8]

I agree that the banks collude with government, and that paper money is not good.

All money should be based on gold or silver.

But interest is real. When a private person lends money to another person, you can expect interest. Why? Because time is money. You can DO stuff with money over time to make more money. You could buy goods, then find buyers and sell them for more, then pay the loan back.

So there is nothing wrong with interest in principle. But rates should be set by the market.

[markonikko108]

Interest is real is a very Anti-Christian sentence.Interest is $atan,in the Bible,for example.Let it be sayd by me,who are not a "church follower".But the US presidents put their hand on the Bible and then they operate in a House under a reverse Five point Star(watch Washington DC from satellite)...there's something wrong in here...

[freesk8]

The bible also says to stone adulterers and that the earth is flat and only 6000 years old.

I think one should interpret the bible metaphorically and charitably. I think that the bible should be read as prohibiting taking advantage of desperate people through excessive interest rates, or charging interest to friends. But I don't think it is wise to interpret the bible as outlawing all interest.

I am also "not a church follower" and I see that the politicians are hypocrites.

[markonikko108]

I just consider that under historical and philosophical point of view.I think that the Bible is an important point of view about human evolution.And is full,not only of mistaken astrological theories,but also of deep human values.I invite you ti read the "meeting"between Jesus and $atan in the desert:it explain PERFECTLY what nowadays PRIVATE Banking Sistem is and from which believe comes from.

[polygamous1]

BUT I as a Christian i do NOT believe in the BS fairy stories of the old tastament written by jews n telling us God loves them more n helps them kill other nations that is CRAP its only one God n He loves all good people the same Jesus talked about forgiveness why should ANY Christian believe the old testament? westerb credit is given to corupt regimes to spend on old military us junk n get a stranglehold on the country for the benefit of bankers that OWN THE US Jesus called them devil's people

[freesk8]

If the bankers "own" the US, it is only because we sought to borrow from them.

WE took out mortgages we could not service, and ran up huge credit card balances.

Before we demonize the bankers, we should remove the logs from our own eyes.

It is debt that created the current recession, yet the politicians want to create more "credit" (just the flip-side of debt.) How can more debt, which got us in to this mess, get us out?

We need less govt spending, not more.

Less taxation & Regs.

[sexdrugsRnR]

chavez is so delusional... he refers to himself as "us"

[t4705mb6]

The oil "shortage" was a zionist scam, just like in the 70s. There has NEVER been an oil "shortage". The bankers are the people who OWN the oil companies and do VERY well in manipulating oil prices and delivery for political & financisl purposes.

Oil prices went up to TRAP the oil countries NOT under the bankers control by luring them into heavy debt using their oil as means of payment.

The PLANNED collapse of oil prices was meant to destroy those countries fiancially.

[kwillyou22]

despite your extremly liberal views that actualy makes since i think you might be right

[freesk8]

Conspiracy theory. Oil production is in the hands of too many different parties for manipulation like that.

The recent oil spike resulted from a combination of reduced supply due to reduced production from Mexico and in post-Katrina gulf wells. It also resulted from spikes in demand in China near the Olympics, and in India and the US summer travel spike. The price collapse was caused when supply returned to normal, and Americans reduced their demand.

[t4705mb6]

World central bankers finance virtually ALL world oil ventures. They not only control who gets the money but who does not.

The world bankers decided in the 1960s to base the world currency systems on fossil fuel consumption. Not everyone "needs" gold but everyone needs fuel. They are extremely reluctant to reduce fossil fuel dependancy although other technologies are readily available. They proclaim scarcity in order to meter out their resources while raising prices, a matter of profit.

[freesk8]

Large corporations and investment funds finance virtually all world oil ventures, not central bankers. The bankers had no influence over the adoption of oil as our primary energy source. The market did that. Gold is more highly priced per ounce than oil because it is more rare, and more valued.

We are still dependent on fossil fuels because they are cheaper than renewables. But technology is improving, even as oil becomes more scarce. No one entity controls supply or demand. Consp. theory.

[vanityfox451]

But can you prove what you say with hard facts?

[freesk8]

None that you would recognize.

[vanityfox451]

freesk8, I'm not a doomer and grounded in reality I can assure you. I didn't write that to you as a side swipe but more to ask you to expand on your point of view.

[WOLF333999]

Excellent reporting.

[Staubdumm]

Fresh and interesting, thanks Realnews.

[dirtyboy830]

He has it backwards, the US is the "instrument" of Israeli aggression.

[dorsguy]

those behind the world bank are behind all wars.

[ferrozm]

That reporter fails to mention that Colombia needs the military because of FARC ( which has received funds from Chavez), ELN and paramilitary groups. So its not as if any military build-up is unnecessary. The RNN is very biased in its reporting of Uribe but ask Colombians and you'll hear a different story.

[stevenaudet]

Chavez may not be perfect but at least he is doing something for his people and for the world.

[jcyprys]

Chavez is speaking the truth, and the truth can not make it's way to the mainstream media...

[ferrozm]

thats awesome that he kicked out the israeli ambassador and denounces the US empire.

[truthspeaker969]

"thats awesome that he kicked out the israeli ambassador and denounces the US empire."

seems he is the only president worldwide who has some guts, a heart and basic moralic values.

[WhoRonPaul]

its refreshing to see decisions being made by a man that is actualy a resident of his own country

[madebutante]

Bravo on the expelsion of the Israeli ambassador! I love the people of Israel, but their government, like the U.S., has broken international laws. I am praying that European countries will press charges against the Bush Administration, but where is the f'g UN forces when we need them. If it were the 30's the U.S. would have sent military power to protect Gaza from genocide. How ironic.

[sisforshayla]

really good report realnews, thanks

[BenjaminFranklin2u]

Chavez is a great leader, and a rare but honest politician.

[chickenisafoolofatoo]

If you factor in non-conventional oil supplies (which Canada, the USA and Venezuela all have) the whole peak oil thing is bullshit. Sure the price won't ever be down at $10/barrel but some processing techniques can do it fairly cheaply and technology is bound to improve.

Chavez is brilliant btw. I hope he tours here in Australia; a whole lot of left-lobbyists are trying to get him to come. His ideas and interpretation of global institutions (IMF, WTO, WB, etc) hit the nail on the head basically

[vanityfox451]

Hi Chicken', In my opinion, with 33 of the 48 countries of the world in decline with their oil production peaking, i.e:- The USA in 1970 England in 1999 Mexico in 2004 Russia in 2007 ...there are huge signs that these countries who build their economies on the American Dollar are going to become net importers rather than exporters of oil in the near future. America imports 60% of its needs from countries such as Mexico and Venezuela. Google:- "Chris Martenson" and the "Crash Course"

[mycatisromeo]

I watched The Crash Course. The question is - do you think the world economy will collapse in the next 20 years? If so, how bad will it be? Worse than the great depression or the end of civilization as we know it?

[vanityfox451]

My sights are set much closer to home than 20 years for the world to 'Find More Oil' and continue to grow its economies at 3% and above per year. We've been flat in production of 'sweet' crude oil since May 2005, with alternatives such as tar sands never keeping up with their production futures as far as competing with conventional oil. Oil needs to be closer to $75 a barrel for production to be cost effective in its production. I don't have space to explain this here and will continue privately

[almansell]

one problem with shale oil, tar sands and tertiary-recovery techniques is that they all require huge amounts of water, which the world cannot spare.

Apart from that, the energy return on energy invested is very low. With tar sands, something like 2 barrels invested for 3 returned. Compare that with the 300 to 1 return on the early big conventional finds.

[chickenisafoolofatoo]

Yeah no doubt there are large engineering problems regarding extraction from non-conventional sources. If the world gets desperate enough then it'll happen. Technology is also bound to improve the return as we go along; it is still early days!

It'd be best if we just go straight to renewables but that is unlikely to happen ^.^

[almansell]

I worry that technology will be buried, rather than embraced. Have you read about the demise of the streetcar systems in US cties in early/mid 20century? Consortium of oil/tyre/motor corps buy up electric trams- replace with deisel/gas buses. Destroy 80% of streetcars-CEO fined $1 for anti-trust.

Moneyed interests will continue to stifle innovation, to maintain status quo, until we repeal corporate 'bill of rights', and introduce 100% monetary reform. Read Gangs of America, & Michael Rowbotham

[luciodelgado]

Chavez future Che!

[beareroftruthiness]

The WB and IMF are European institution for Anglo-American interest. Their head are appointed by Washington and Europe. People who followed them have been worst off. I'm glad people are starting to realize this.

[SubmarinerAndroid]

Chavez deserves a Nobel Peace Prize.

[blackxavior]

For what? Arming FARC?

[truthspeaker969]

"Chavez deserves a Nobel Peace Prize. "

Nobel peace price is a fraud anyway...

[saadasim]

Viva Venezuela!

[JixMa]

I really like and admire Hugo Chavez. He really puts it so well. I agree with his comments about US imperialism & his assertion that Israel is just a tool of the US in that part of the world. I also agree about the IMF. It's very much a tool of the rich countries solely to get 3rd-world countries into debt & then once they're in debt, these countries have no option but to let unscruplous men's corporations come in (in order to pay off their debts) raping their lands & making their people slaves.

[vanityfox451]

Hi Jixma, I've just finished reading John Perkins 'Confessions Of An Economic Hitman' and the book fully highlights exactly what you are saying here. I highly also recommend you Google:-

"Chris Martenson"

and completing the

"Crash Course"

...you'll find exactly where the USA is directly heading, most if not all of it caused by 'Blow Backs' in history. This is information that every family and friend should be fully aware of!!

[JixMa]

Thanks, vanityfox451.

You (and everyone reading this) ought to also check out "Zeitgeist: The Movie" (2007) & "Zeitgeist: Addendum" (2008) which explains very well what the Elites of the world have been doing to the rest of humanity in order to maintain their power.

Films located at Zeitgeist(.)com which links to Google Video where they're posted in full. Watch them with SUBTITLES, I suggest. It's easier to follow.

"Zeitgeist: The Movie" is also here on YouTube in parts. Search for it.

[JixMa]

vanityfox451, you mentioned the Economic Hitman. "Zeitgeist: Addendum" also goes into this as well and has an actual Economic Hitman being interviewed & discussing what he did and the tactics that he/they employ. It's all so diabolical and ingenious what the mind of Man is capable of! The two Zeitgeist films are so eye & mind opening! It really is rather shocking how all we are lead to believe is a lie and a contrivance to keep society under THEIR control! The people have been turned into sheep!

[vanityfox451]

Beyond doubt Jixma, the very man on Addendum is John Perkins and, what he has to say clarifies what Hugo Chavez is fighting. Remember Iraq and 'Sadam' unpegging the American Dollar in 1999 and insisting all oil prices were paid for in Euro? If you didn't, you do now. I don't embrace Sadam, but his so called 'Weapons Of Mass Destruction' were all supplied by the USA and 'Daddy Bush' in the mid 80's, used against the Kurds that were gased. Chavez is looking at unpegging the Dollar also!!

[vanityfox451]

Add to this yet another worry. The international Monetary Fund (IMF) has built many interest bearing loans on Mexico to build its country into the same debt structures that Venezuela is fighting. They're in massive decline with their oil fields. It is expected they won't be able to export oil by no later than 2014, which will be a large shock in one sense to the USA because it is their No2 supplier. Frighteningly, I believe they will default on their loans. They alreadu pay 40% GDP in debts!!

[vanityfox451]

My heartfelt advice to anyone taking the time to read through this comment blog is to get and watch all of the films that you'll find on :-

"chrismartensondotcom"

here on You Tube. Don't just watch the first 3 and think the information isn't massively invasive to your future, because it is. Also, don't think that it only affects America, because nearly every country on the planet is pretty much corporate owned as though it were a farm. Lasivious greed has caused its downfall, and Very soon....

[JixMa]

Indeed it's all interconected as the recent Wall St. meltdown PROVED! If America gets a cold, many other countries catch the flu! America's greedy tentacles are in many, many pockets. The Elites of this world have rigged it so that everyone works for THEM as slave labor, funneling all the wealth derived from the slaves' toil (their blood, sweat & tears) up to the top of the pyramid. And we think we've come so far from the ancient Egyptians with the Pharaoh at the top & everyone else, his slaves.

[SuperiorHuns]

Dear JixMa:

I agree wiyh your posted comment 100%!!

Greetings from Hungary - Europe

One more thing:

All the jews MUST DIE!!!

They are manipulating the fucking americans.

VIVA VENEZUELA !!

VIVA HUGO CHAVEZ !!

GOOD BLESS YOU VENEZUELAN PEOPLE !!!

[Patriot4Liberty1776]

how is crude controlled by US? -- All Opec oil is traded in US Dollars --- the FED (which is not federal and has no real reserve) can over night change the strength of the Dollar by changeing rate and currecny circulation without the approval of congress -

-- when all OPEC countries are forced to trade in US dollars you start to see how easy the elite control us -- it is how we havebacked our currency since the end of Bretton woods in august of 1971

[almansell]

too right. The one thing linking all of the countries on Bush's Axis of Evil was that they had all recently made attempts/threats to start trading in Euro's.

[ChiefOren]

Yes,  you nailed it.

[chewbaca1989]

How hilarious, the oil prices are fixed by the world bank.

[Patriot4Liberty1776]

Not only Venezuela -- This is crushing the middle east -- and it is why the elite have been doing keeping crude low -- We truly have an Energy NON-Crisis in the world and a Currency manipulation Crisis from the world's Elite in THE IMF World Bank who control us in the world.

Iran has never sigened on with the IMF -- wonder if they can hold out with crude back to $40 a barrel