Reply With QuoteLooks like it's time to warm up the bullpens at CIA.
Hugo Chavez aims for $100 a barrel
G2Americas | Intelligence Brief
100206 – No. 03/06 – Venezuelan President Hugo Chavez is seeking to raise world oil prices to $100 a barrel this year. Chavez needs a high and rising stream of oil revenues in 2006-2007 because Venezuela’s oil production capacity is collapsing, and his Bolivarian revolution can only be sustained by evergreater public spending. Chavez, who is seeking re-election to a second six-year term in December 2006, plans to spend up to $65 billion this year on social programs and infrastructure projects. He needs significantly more fiscal revenues, and oil is Venezuela’s only cash cow.
To advance his goal of $100 per barrel oil, Chavez is aligning VenezuelaÂ’s government with Iran and Syria, which are challenging the West over TehranÂ’s nuclear plans and the U.S. military presence in Iraq. Chavez this year also will embrace the Harakat al-Muqawamah al-Islamiyya (Islamic Resistance Movement), Hamas, which on Jan. 25 won 76 of 132 seats in the Palestinian parliamentary elections, giving the group the right to form the next Cabinet. The U.S. government considers Hamas a terrorist organization. Hamas leaders already vowed they will never recognize Israel and refused to renounce violence to achieve their political aims.
Looks like it's time to warm up the bullpens at CIA.
Everybody ready for 5 bucks a gallon!!!!!!
Although a factor with the unrest in Venezuela, they do not regulate the price of oil. The middle east is a large factor. Whatever Hugo buddy says doesn't go. The Saudis, Kuwait and Iraq have a bigger influence. Nigeria is in play but can be easily rectified as most of their production and transport is all off shore. Need to simply tighten security there. Russia is also a huge factor as the world's largest producer of oil. So don't sweat it. Chances are that oil will drop over the next year and with the building of new refineries you will see prices under $2 bucks a gallon. Unless you vote for Hillary and company. Then all bets are off.
As many threads have pointed out, refinining capacity is our biggest problem and the reason prices are where they are. Oil is only the raw material is producing fuel and represents 33% of the cost. You actually pay more in state and federal taxes than you do in actual fuel "costs." Doubling 33% doesn't translate into doubling of the product.
Sorry, I hate when everyone gets stirred up about this stuff. But it does good as people start selling off their boats and SUVs because they are scared. Keep this thread and see me in a year and see if I was correct or if you are paying $5 per gallon.
Here's a hint, at $5 per gallon, you'll see a recession that will make the great depression look like a picnic! Government isn't that stupid.
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