May 25, 2008

Nationalization of Oil

Maxine Waters recent foo pah has evidently heightened my oily awareness. If you need a model of oil industry nationalization you need look no farther than our friend Sluggo down Venezuela way. Since the takeover of the main source of income the economy has headed to the crapper. From Bloomberg: "Chavez Price Controls Mean Record Oil Fails to Prevent Shortage"

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