Word: venezuelanizing
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...Venezuelan President Hugo Chavez's left-wing, oil-fueled revolution usually carries itself like a swaggering, cocksure juggernaut. So it was a sign that things perhaps weren't looking good for the fiery, anti-U.S. leader Sunday night when he didn't appear on the balcony of Miraflores, the Caracas presidential palace, pumping his fists and crowing confidently about victory. Venezuela's polls had closed in a national referendum on a raft of constitutional reforms that would have profoundly tightened his hold on political power in Venezuela - including an amendment to eliminate presidential term limits (which currently last...
...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), Chávez 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 is not the fall of the dollar," Chávez crowed. "It's the fall of the American empire...
...experts say Venezuelan production is slipping and Chávez's industry policy for the long term is risky. Venezuela, like Mexico and Iran, needs reinvestment and foreign investment to keep its $100 billion industry in prime condition. But with China's and India's demand for crude inspiring projections for exponential growth and the U.S.'s determination to remain a slave to oil, the oil industry may well have hit a point when the short term is the long term--every barrel not pumped today will be worth more tomorrow. "The Venezuelans are investing as much as they want...
Haiman El Troudi has a job that most post-Cold War Marxists can only dream about. As the director of the Miranda Center in Caracas, a policy research think tank set up two years ago by the government of left-wing Venezuelan President Hugo Chávez, El Troudi formulates socialist strategies that actually get put into practice. Some of them, like an epic campaign to create "socially oriented" industrial cooperative factories, will be put to a national referendum this Sunday, when Venezuelans vote on a raft of constitutional reforms that Chavez says will create a model of "21st-century...
...that the world is running out of oil. There are massive reserves available in Canadian tar sands, Colorado shale, Venezuelan heavy oil and other unconventional deposits. The problem is that most of this oil is hard to extract and even harder to refine, and it isn't likely to account for a significant share of global production anytime soon. Almost everybody agrees that the pumping of conventionally sourced oil outside the Organization of Petroleum Exporting Countries (OPEC) has already peaked or will peak soon, a reality that even discoveries like the recent 8 billion-bbl. find off the coast...