The Seattle Times: Business & technology: Stock market | Seattle Times Newspaper
I read this article this morning and found it to interesting. Chavez wants to keep the price per barrel somewhere between 80 to 100 dollars a barrel, stating that's a fair price for oil, and that it will help "stabilize" the world economy. Who's that a fair price too? The super rich oil people, or to the working class trying to make it in the world?
The other thing I thought was bullshit, is that Venezuela's govt had put in place the next year's budget, based on $60 per barrel. Oil is 94% of Venezuela's exports and is half of it's budget. If oil dips below $60 a barrel on average, then their budget is screwed. No wonder Chavez wants a band.
Just another reason to want to stop using oil. Rich fuckers like this get their way because they group up with other rich fuckers and set the price. But that price won't be able to stay high if nobody buys it at it's high price.