Horton: And he is doing so on inflated oil prices.
Palast: But he is… His authority and his popularity are based completely on the high price of oil.
Horton: Right.
Palast: Hugo Chavez is tremendously… I’ve been down to Venezuela many times. I have spoken with him
and spent a lot of time, by the way, with his opposition.
His popularity is based on the high price of oil. He is wildly popular throughout Latin America and
particularly in his own country. But you know if the price of oil were 22 dollars a barrel, Hugo Chavez
would not be a popular guy and couldn’t be elected dogcatcher.
Okay. Chavez knows this. I know it, and everyone knows it. Now, why is it that Dick Cheney just turned
this guy into a powerful man?
This goes back to this issue again of volatility. I know from inside the department of energy… We were
able to get the documents showing that the Department of Energy itself feels that the largest oil
fields and reserves in the world are not in Saudi Arabia, but in Venezuela.
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