Tuesday, April 10, 2007

Slow. Motion. Trainwreck.

"Hey, let's try Socialism, because, you know, it works."

In the 21st Century, people still have thoughts like that pop into their heads. Which is a shame. According to former President Carter, President Hugo Chavez is the elected leader of Venezuela. So, I guess, he gets to preside. I'm just glad I don't live there. Seems M. Chavez is busy running that country into the ground. His latest move is to take over Venezuela's Oil production.

He'll pretty much loot, wreck and destroy the industry, impoverish his people, and descend in an absolutist authoritarian state, but that will be ok, because his intentions are pure.

Happens all the time.

The New York Times gives a little window into the impending train wreck:

But Venezuela risks undermining the engine behind Mr. Chávez’s socialist-inspired revolution by hampering its ability to transform the nation’s newly valuable heavy oil into riches for years to come.

Socialist-inspired. Code? This guys a nut, and shouldn't be allowed to sully the good name of Marx? He's a socialist. Which means he favors theft to work. And cronyism.

Meanwhile, the company acknowledged last month that spending on “social development” almost doubled in 2006, to $13.3 billion, while its spending on exploration badly trailed its global peers. And Petróleos de Venezuela’s work force has ballooned to 89,450, up 29 percent since 2001 even as production declined.

M. Chavez is going to hollow out the company, crash the Venezuelan economy and turn the place into a graveyard.

Happens. All. The. Time.

And yet, five years from now, people will be be scratching their heads, saying "who'da thunk it?"


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