Now this is interesting, Chavez continuing his attacks on unrestricted free markets anyway he can:
http://business.guardian.co.uk/story/0,,1745467,00.html
I'd like some input from somebody who knows more about the oil industry than me to give me an opinion.
Basic economics tells you that if the world price is above $50 that means more peope will demand Venezuelan oil than Venezuela can supply at any one time, so presumably he's suggesting some kind of rationing system based on Venezuelan foreign policy objectives, which seem to include major reform of the IMF and international institutions, and a push towards more of the major investments in social welfare that he has been undertaking in Venzuela. It's certainly an interesting suggestion though.
http://business.guardian.co.uk/story/0,,1745467,00.html
I'd like some input from somebody who knows more about the oil industry than me to give me an opinion.
Basic economics tells you that if the world price is above $50 that means more peope will demand Venezuelan oil than Venezuela can supply at any one time, so presumably he's suggesting some kind of rationing system based on Venezuelan foreign policy objectives, which seem to include major reform of the IMF and international institutions, and a push towards more of the major investments in social welfare that he has been undertaking in Venzuela. It's certainly an interesting suggestion though.
