Oil Fat Cats vs. Hugo Chavez: "That 'problem,' quite simply, is that Chavez, a radical populist who has been voted into office repeatedly by huge majorities in his own country, controls the largest reserve of petroleum outside the Middle East.
Neither Robertson, nor former oil executives George W. Bush, Dick Cheney and Condoleezza Rice, nor their buddies at Exxon/Mobil, Chevron, etc., are happy about all this.
Even more scandalous for Big Oil, Chavez is using Venezuela's windfall not to fatten his own country's oligarchy but to benefit the Venezuelan poor and help neighboring countries.
Yesterday, while Robertson was issuing his half-baked Chavez clarification, the Venezuelan president was in Montego Bay, Jamaica, where he announced a new oil agreement with that country's prime minister, P.J. Patterson.
Under the agreement, Venezuela will supply 22,000 barrels of oil a day to Jamaica for a mere $40 a barrel. That's far lower than the current world price of about $65 a barrel. With the price of gasoline in that destitute nation already more than $3.50 a gallon, the Chavez plan means more than half a million dollars a day in savings for Jamaica on oil imports.
Chavez also announced his government will provide $60 million in foreign aid to Jamaica and finance the upgrading of that country's oil refineries.
The agreement is part of a broader Chavez plan called Petrocaribe, which he unveiled at a Caribbean summit in Venezuela last June."