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...less certain that PDVSA really recovered. Before the strike, Venezuela pumped more than 3 million bbl. of oil a day (m.b.d.). Chávez and his loyal Energy Minister, Rafael Ramírez, who is also PDVSA's president, say they're back to 3.2 m.b.d., but even OPEC says Venezuela's output is 2.4 m.b.d. PDVSA's exploration and production vice president, Luis Vierma, warned last July of an "operational emergency" because of a lack of drilling rigs. In recent years, there has been a troubling string of accidents; and oil corruption, the blight that Chávez vowed to eradicate, became...

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

...away, taking critical technology with them. Abandoning its Petrozuata and Hamaca heavy-oil ventures, plus an offshore project, cost Conoco $4.5 billion in impairment charges. The French oil corporation Total signed a deal earlier this month to help fill the void. Still, Venezuela's output "is declining," says Rafael Quiroz, an oil economist at Venezuela's Central University. "If it dips below 2.1 m.b.d. ... it could bankrupt the industry...

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

...even more catastrophic and authoritarian past than the failed neo-liberal ’90s.Chávez is most definitely not alone, for he has actively funded his ideological allies to allow them to take power across the region, especially when America remains disengaged. Evo Morales in Bolivia, Rafael Correa in Ecuador, the everlasting Castro in Cuba, and Kirchner in Argentina have all benefited from Chavez’s petrodollars in the form of infrastructure deals, bond buy-outs, and outright gifts. And yet, even for self-declared neo-socialists like the Venezuelan president, there is no such thing...

Author: By Pierpaolo Barbieri | Title: Arrested Development | 11/1/2007 | See Source »

...wing of Madrid's Prado museum is humming with activity as curators prepare for its Oct. 31 opening. Above ground, in galleries built around architect Rafael Moneo's translucent, lantern-shaped patio, epic-sized historical paintings from the museum's rarely displayed 19th century collection rest against the walls, waiting to be fitted into their frames. Below ground, white-gloved workers are laboriously transferring the 3,000 works currently in storage to a new, climate-controlled archive system. And in the Room of Muses, a lone conservator painstakingly cleans a sculpture of Erato, the Greek muse of lyric poetry...

Author: /time Magazine | Title: Into the Light at the Prado Museum | 10/24/2007 | See Source »

Apple’s appeal, according to Rafael F. Garcia ’09 of Lowell House, a Mac enthusiast, is that its computers are easy to use and reliable. “The fact that there aren’t as many viruses or spyware for the Mac as there are for PCs definitely makes using the computer a lot more enjoyable than having to constantly fight a virus when you use a PC,” he said...

Author: By Ana P. Gantman, CONTRIBUTING WRITER | Title: Macs Gain Ground Among Students | 10/24/2007 | See Source »

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