September 24, 2006
Washington Post on Chavez's Hot Air
Many, including me, paid more attention to what Hugo Chavez said last week (and what book he hawked) at the U.N. than how he's leading Venezuela especially its oil industry. Thankfully the Washington Post editorial board points out Chavez's ineptitude:
Since Mr. Chávez took power seven years ago, Venezuela has mismanaged its oil so disastrously that production may have fallen by almost half, according to the estimates of outsiders, reducing global oil supply by a bit more than 1 percent. Along with natural disasters and Nigerian rebels, Mr. Chávez's ineptitude has contributed to high energy prices.
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