Saturday, March 27, 2004

Who is the bastard who did this? 

Here are world oil prices (per barrel) for the past 12 years:

1992 $18.11

1993 $16.17

1994 $15.41

1995 $17.15

1996 $20.60

1997 $18.55

1998 $12.09

Hugo Chavez takes office.

1999 $17.27

2000 $27.68

2001 $21.99

2002 $23.63

2003 $27.68

As can clearly be seen oil prices have increased significantly since Chavez became president of Venezuela. In fact within two years of his taking office the price of oil had more than doubled! And given that oil is now selling for over $30 per barrel it has virtually tripled during his tenure.

So next time that you wonder why the U.S. government wants so desperately to get rid of Chavez remember the above table. The U.S. is certainly doing all that it can to undermine Chavez. But it is not because Venezuela is not a democracy - Chavez has been elected twice by overwhelming margins. It is not because Venezuela is not free - Venezuela is one of the most free countries on the planet. It is not because Venezuela sponsors terrorism - Venezuela has nothing to do with any terrorist organizations.

Its the oil - stupid.


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