What is Digg?176 Comments
- mzx639, on 10/23/2008, -22/+59Isn't socialism great?? HAHAHAhahahaha.....
- DahktaD, on 10/23/2008, -15/+51Heheheh...What's the matter, Hugo...your little empire falling apart? Now, if only the US would quit buying oil from you, which can watch from afar as your country craters!! Payaso tonto!
- mcm297, on 10/23/2008, -7/+39I feel bad for this nation. Hugo needs to "Spread the wealth."
- Trekhawk, on 10/23/2008, -4/+27I've done my part. I haven't bought gas at Citgo in over two years.
- imightbewrong, on 10/24/2008, -2/+23Who knew reinvesting in infrastructure was important???
- BufordT, on 10/23/2008, -7/+28FTA:
"The government has responded by building dozens of tiny local plants that generate a fraction of a percent of national consumption, a model known as "distributed generation" used in Cuba, where a U.S. embargo impedes electrical development."
They just had to bash the U.S. didn't they? - Surferess, on 10/23/2008, -6/+25Don't cry for me Venezuela!
- NonLeftistDiggr, on 10/23/2008, -8/+27This is just the beginning. It's old news that he has bet the farm on his socialist eutopia. If oil stays low, he's screwed... unfortunately he's taking Venezuela down with him.
- IHaveCrayons, on 10/24/2008, -6/+23I thought Diggers love Hugo Chavez. I mean every time there's a story posted about Venezuela about ten diggers will post "I am moving to Venezuela!" (Because apparently gas prices are the end all) What now?
- inactive, on 10/23/2008, -11/+26Yep, Capitalism sure is dead.....
- trolleyfan, on 10/24/2008, -3/+17Well, given that oil is pretty much the country's only real export...left wing, right wing, hamster wing, it doesn't really matter as their economy is linked to the price of oil and if it goes down, their economy goes down.
Or, IOW, they're screwed no matter who's running the place... - drex8, on 10/24/2008, -0/+11Mexicans from Venezuela?
Do you mean the Venezuelans themselves, or Mexicans who have recently visited the country? - dhughes, on 10/24/2008, -0/+10> "Now, if only the US would quit buying oil from you"
You think that's bad? Canada buys oil from Venezuela yet we have massive oil reserves, possibly the biggest in the world and we export more oil than we produce, figure that one out! - Arramol, on 10/24/2008, -0/+9I dunno, I think there might be a market for those hamster wings.
But on a more serious note, yes, the price of oil is central to their wellbeing, and this is where the shortsightedness of OPEC becomes clear: they jacked the price of oil up so much that it's killed demand, especially coupled with the other economic woes going on right now. I remember reading articles a while back about Saudi officials arguing with the rest of OPEC on the grounds that people who switch from SUVs to hybrids wouldn't be going back, and it's true. By trying to wring too much wealth out of an ultimately doomed export, they've hastened the demise of their one real income source. - Psamtik, on 10/24/2008, -18/+27Capitalism and Socialism are both flawed.
- Hockey13, on 10/24/2008, -1/+8Or...a long-term correction (one that should have happened throughout the 90s) in the price of crude oil combined with a major financial collapse (caused by the disintegration of credit markets due to the opacity premium on certain higher risk assets) and a huge U.S. federal budget deficit made many commodities look good. Oil was guaranteed...no matter what, we need oil. People suspected demand was greatly underestimated in the early 2000s considering the exponential growth of the Chinese, Indian, Eastern European, and South American economies given the current limited increases in supply. It's simple economics that was blown out of proportion with the external factors driving the larger commodity bubble. Then when everyone realized that there is a natural ceiling on any price and that there probably isn't enough demand to multiply the price 6 times over and the expected supply shock from "a more dangerous Middle East" never really materialized as much as some people suspected.
Then again, most of these things partially occurred (and continue to occur). There is validity to a price in the 70s or 80s that will continue to rise as oil reserves worldwide slowly approach depletion in the coming decades. This increase in the price of oil will, in time, continue to fuel demand for oil substitutes (solar, wind, fusion, geothermal, etc.) as the market (i.e. individuals or groups of individuals motivated by the opportunity to profit on these industries) cures humans of oil addiction. - trolleyfan, on 10/24/2008, -9/+16"Now, if only the US would quit buying oil from you, which can watch from afar as your country craters!!" Assuming, of course, we can build the periscope long enough to look out of our *own* crater...
- schnikies79, on 10/24/2008, -4/+11Maybe if he wasn't so busy trying to amass power for himself he might be able to take care of his people.
- saigumi, on 10/24/2008, -1/+8With Hugo, it always is.
I'm thinking a press release in the new few days will blame CIA sabotage on the problem and that he needs more tanks to defend VZ. It is funny how choads will swing in the dark like that, yet the world will believe and accept the answer. - omgwtflawl, on 10/24/2008, -0/+6The US also has massive oil reserves. The problem is, both of us have oil locked in sources that make it hard to extract. The middle east and venezuela both have oil that is incredibly easy to extract, therefore we import it.
- TheMoniker, on 10/24/2008, -3/+9Socialized police, fire and emergency response teams? What's next? America is practically the Soviet Union! Next they'll be joining the likes of other evil red nations--like Canada, Norway and Sweden!
- arpad, on 10/24/2008, -2/+8As opposed to the current situation where they don't have food, electricity, jobs or prospects for any of the preceding? Yeah, socialism's just turning out to be peachy for Venezuela.
- novenator, on 10/24/2008, -3/+9Didn't California have rolling blackouts a few years back? what about the massive power grid failure on the eastern seaboard of the US before that? someone answer me this, why in the richest country on the planet do we have a 3rd world power grid?
- bjzq8, on 10/24/2008, -0/+6We'll "make it work" in the US in the next few years, I'm sure.
- edebolt, on 10/24/2008, -2/+8The US is Chavez only full price customer. He is selling or trading oil to other countries for far less. With anything less than $88 a barrel and Chavez can't break even. What's even better while we get to watch him bleed to death is that he has loaned a huge amount of money to Argentina on the private bond market and Argentina is within weeks of completely defaulting. Sorry Hugo.
- Coelacanth, on 10/24/2008, -1/+7We are not the problem, their own leader is the problem, just go look at recent stories in the news. He started buying Tanks instead of supporting the starving and energy deprived people in the nation. We wouldn't have a problem with him if he would take care of his country.
- arpad, on 10/24/2008, -1/+7Well that's certainly worked out well then hasn't it? Now the Venezuelans don't have food, oil, electricity, jobs or prospects.
- Richandler, on 10/24/2008, -8/+14Oh! Hugo Chavez are you have a hard time running your socialist government which leaches off of American capitalism? Oh! That's too bad! I feel so sorry for you!
- govsucks, on 10/24/2008, -1/+7errr, free market capitalism in this nation have been infected with the disease of collectivism. You can clearly see the results.
- MrSteamTank, on 10/24/2008, -0/+6Anybody who deals with Argentina tends to suffer the same fate. They are widely reknown for massive corruption and terrible government policy. As a Uruguayan it's a real shame. Such a potentially rich and powerful country throwing it all to waste.
- pintomp3, on 10/24/2008, -2/+8he should have bought into the free market stuff pinochet was selling in chile. that's the good stuff.
- ufoninja, on 10/24/2008, -1/+6look, i'm not an american and i spend most of my time in a drunken stupor, but even i know over 1,800 people lost their lives in katrina.
and since when did 'up-kept' become an acceptable adjective? - trolleyfan, on 10/24/2008, -5/+10Oh please! Even the farthest left candidate in American (or, the farthest left that is taken seriously, anyway) would still be right of center for most of the world - and that's the "most of the world" that's doing better than the U.S., along with the chunks that aren't. Obama is no more going to "destroy capitalism" than the Republican tax cuts for the rich are going to "trickle down" (twenty-eight years, and still waiting for that one to happen).
- 4t0mik, on 10/24/2008, -1/+6Power Regulation by the state. Texas certainly doesn't have power problems. In fact we sell our power to about 5 states because we have so much.
:-) - Chestnutridge, on 10/24/2008, -2/+7Why is that a bash of the U.S? If you are going to have an economic embargo, you want it to work. For almost 60 years the U.S. has had an embargo in place against Cuba to encourage the Cubans to overthrow Castro. I would think we would want and expect that there would be economic consequences. This would indicate our plan is working . . . just a little slower than we expected.
- bjzq8, on 10/24/2008, -1/+6"Free market economics" didn't drive most people into poverty. Corruption and waste drove them to poverty, and they turned to what every politician says will save them; more government involvement in their lives. Surprise! Having a disembodied committee run your live from afar, changing figures on a spreadsheet like "Number of megawatts needed for October 24, 2008" and "Amount of food required per person" doesn't work out in real life. There's nobody that can think fast enough to keep up with reality, no committee that can foresee all possibilities. The only thing that can is the market. When government gets involved, it invariably puts its hand on the market, which may unbalance things for awhile. Of course, the first thing they blame is the market that was taking care of itself in the first place.
- MrFurious2k, on 10/24/2008, -0/+5Central Planning at its finest. Once again, a sign of the wonderful things to come.
- omgwtflawl, on 10/24/2008, -2/+7Before you do that you might want to look up the definition of the word "fungible". Hugo will socialize his country to death without gas station protests.
- Artemis3, on 10/24/2008, -1/+5It is pure *****. 70% or so of our energy comes from hydro power, which mainly comes from the southern part of the country. If there is a problem in the transmission line, massive blackouts can occur. These might happen once every 2 years or so, and are usually fixed within a couple of hours. Last Sunday occurred one, for unexplained reasons (no big load, no natural disasters) leading to the believe of intentional sabotage and 3 people were detained for questioning.
We have plenty of spare capacity, and in addition to hydro power, several smaller natural gas plants are being put online to reduce the single point of failure risks. - 4t0mik, on 10/24/2008, -2/+6LoJack,
Then why is he (trying) to throw out future elections? - BossKey, on 10/24/2008, -0/+4It isn't just that he's relying on oil, but he bloated government spending to an unsustainable level. A lot of it is to subsidize the price of goods that the poor depend on so that they will vote for him. But it's all a house of cards that's gonna come down sooner or later. He'll be thrown out of power when he can no longer deliver, and the people will lack the infrastructure that should have been invested in.
Not that the United States can brag in our own current self-inflicted situation. One radio pundit had an awesome idea. This is the time when we should be investing in our own crumbling national infrastructure, since our aging highways, railways, pipelines, utlity grid, and bridges aren't doing so well. Our businesses need the work, and our people will need the jobs. It would not be make-work...the infrastructure work actually needs to be done so that we can stay ahead of other countries and not let our infrastructure hold back our economy when boom times roll around again. - letdowntourist, on 10/24/2008, -3/+7we're doing it wrong!
- govsucks, on 10/24/2008, -2/+6Yeah, showing the lack of redundancy in a centrally planned society. Just one loon gets in charge and EVERYBODY is *****.
Let Freedom rule. Freedom for humanity. ***** collectivists and the arrogant force they place on others. - doublefelix, on 10/24/2008, -1/+5I picked a hell of a time to sink all my money into back yard oil rigs.
- pintomp3, on 10/24/2008, -2/+6wouldn't be the first time the CIA overthrew leaders in other countries in order to further US business interests. mossadeq in iran. allende in chile. aristide in haiti.
- anillop, on 10/24/2008, -0/+3Its not a matter of bring political correct it is a matter of making a factual statement and not sounding like a moron. Its like a Mexican calling you French.
- DahktaD, on 10/24/2008, -0/+3Warfare? We did you get that?
- MrSteamTank, on 10/24/2008, -3/+6What about the president before Hugo Chavez? Oh wait let's just assume he was doing great and everybody was always doing just peachy in Venezuela before evil ol' Chavez game along eh?
- inactive, on 10/24/2008, -0/+3Alaska is essentially giving a profit-sharing check to Alaska's citizens because the oil is being taken off government land. Who own's the government? The people do.
This in fact comes across as a very profound way of saying that the people of Alaska are not controlled by the government, but the government is there solely to provide for the citizens. - govsucks, on 10/24/2008, -0/+3He can cut production all he want it won't matter one damn bit. People all over the world are reducing the amount of oil they use. Almost every major auto manufacturer has started building or is working on an electric, hybrid, natural gas or hydrogen powered car. The market is about to teach this collectivist ***** just exactly what it is that props up his pathetic collectivism.
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