Chavez Predicts $200/barrel Oil

[OnePimpTiger]

Just found this story on Fark.com....sadly, it's a better place to get news than CNN!

Venezuela's Chavez predicts oil could reach $200 a barrel

Here's the surprising part:

"He (Chavez) blamed the falling U.S. dollar, U.S. "threats'' against Iran, and what he called "bad management'' of the U.S. economy for driving rising prices."

What's surprising is he's exactly right on at least two of these points! Everyone complains about oil companies gouging the customer (wrong), Congress doing nothing about it (wrong, that's the best thing they can do), not being able to drill in Alaska and off the US coast (only partially right), etc, etc...but the main reason gas is so high is "bad management of the US economy" which has led to the US dollar plummeting in value. When the dollar drops in value, it takes more of them to buy things...it's not a hard concept! It's extremely sad when Hugo Chavez understands our economy so well, but our own politicians and policy makers have no clue.

Coincidentally, it's also sad that Hugo Chavez has to point this out instead of hearing about it on a "credible" news outlet like CNN.

[angel0430]

Yeah, that is right. In Venezuela the price of a galllon of gas is like 30 cents. They see it as a national patrimony and everybody needs to get it at the lowest possible price.