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...crude each day for the state-owned oil monopoly, Petróleos de Venezuela, S.A. (PDVSA), while tankers line up on the Caribbean horizon to ship it around the world. Towering burn-off pipes, as loud as jet engines, shoot flames above giant posters of President Hugo Ch??vez. His fist raised, he roars, "Of course...

Author: /time Magazine | Title: Is Chavez Taking Too Many Oil Risks? | 11/29/2007 | See Source »

...this good or bad for Venezuela and the U.S.? The answer is yes. As oil nears a once unthinkable $100 a bbl., Ch??vez can afford to delay costly drilling and refining expansions like Paraguaná's and spend that money on socialist programs and other political pursuits. In a bravado performance at a Nov. 18 meeting of the Organization of Petroleum Exporting Countries (OPEC), Ch??vez and his new best friend, Iranian President Mahmoud Ahmadinejad, mocked the U.S. and blamed the weak dollar, not Venezuelan production capacity, for the high price of oil. "The fall of the dollar...

Author: /time Magazine | Title: Is Chavez Taking Too Many Oil Risks? | 11/29/2007 | See Source »

...Ch??vez Goes Cellular...

Author: /time Magazine | Title: Briefing | 11/21/2007 | See Source »

...STING Spanish King Juan Carlos I made headlines when he cut off a ranting Venezuelan President Hugo Ch??vez at a Chilean summit by saying "Why don't you shut up?" Now the comment has become a cultural phenomenon...

Author: /time Magazine | Title: Briefing | 11/21/2007 | See Source »

...retort into a ringtone. More than half a million people have downloaded it, generating more than $2 million in profits. While the tone struck a chord with Spanish cell-phone users, Venezuelans are also getting involved--some students are downloading the ringtone as a form of protest against Ch?...

Author: /time Magazine | Title: Briefing | 11/21/2007 | See Source »

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