The New “King of Oil”

For awhile now, I’ve been feeling like what little hope for the world is out there is coming from South America. Leaders like Rafael Correa of Ecuador, Evo Morales of Bolivia, and Hugo Chavez of Venezuela are showing a tremendous amount of courage in taking on US imperialism. And the more they do so, the more they will be vilified by our media.

I am grateful to davidseth who so regularly keeps us informed of a variety of issues that are emanating from this part of the world. His most recent essay about Ingrid Betancourt, the good news of her release, and the questions surrounding that are a wonderful example.

Alternative news sources are critical in so many instances, and never more so than as we try to understand what is happening in South America. That’s why this video of Greg Palast explaining what is happening in Venezuela is something I wanted to share with all of you.  

This was made back in 2006 and I’d be very interested in updates. But nevertheless, I find it fascinating that, in a country with 55% poverty, the policies of Chavez have reduced that number by 30%. Not a story we hear much about in our US media, is it?

But towards the end, Palast talks about the reserves of heavy oil in both Venezuela and Canada. Back in 2006, Chavez was saying that at a price of $50/barrel, heavy oil becomes profitable to produce. Well, folks, we’re way past $50/barrel.

As the reality of peak oil sinks in…I think we all need to be highly suspicious of how events in those parts of the world are portrayed. No doubt, the next great front of the “war on terra” is about to hit in this hemisphere.

7 comments

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  1. I’m grateful to reporters like Greg Palast who continue to try to keep us informed.  

  2. But I wouldn’t be at all surprised. Chavez is constantly being demonized, and this may increase with the price of oil.

    On the other hand, South America seems to have turned a corner and developed some momentum toward unity and independence from the empire.

    Also, I wonder about the accessibility of Venezuelan oil. If much of it is in tar sands, there may be an environmental price to pay for Venezuela.

    I’m also grateful for Palast. There are some journalists who won’t be bought or intimidated.

    • brobin on July 3, 2008 at 18:46

    been for a number of years now.  Continue to talk down about Chavez and his socialist (ooooooh, commies huh?) regime and undermine his government in any way UNTIL he allows Exxon/BP/Shell/Chevron back in to take his countries profits.

    These neo-con’s are a one trick pony and people keep falling for the trick, time and time again..

    Now, THIS is one Tricked Out Pony!

    Photobucket

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