Wednesday, November 14, 2007

Chavez Demands Lower Oil Prices

In stark contrast to George Bush, who on Tuesday, vetoed Congress's budget that provided much needed monies for healthcare, education and labor rights, Venezuela's Hugo Chavez has called for cutting oil prices for Third World nations. (Bush approved an 8 percent increase in military spending). In anticipation of an OPEC meeting on Saturday, Chavez suggested a $20 a barrel price for developing countries. According to BBC news Chavez said "I would sell oil to a rich country at $100 and to a poor country perhaps at $20," he said. He continued: "How are you going to sell oil to Haiti, one of the poorest countries in the world, at $100, the same price that you sell it to the US? It is not right ethically."

The Venezuelan president added that such a policy would be a marvelous way of redistributing the world's wealth. He expected to encounter "hard positions" on the subject at the OPEC gathering. Meanwhile India's Times newspaper reported that King Juan Carlos of Spain had told Chavez to "shut up" at a South American international conference. Chavez had called one of Spain's leaders a fascist for supporting the 2002 coup against him. If only Spain's King had told Bush to shut his face, when he commented that those favoring Congress budget were "like children with a credit card." joe sims

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