Sunday, March 6, 2011

Horton: And he is doing so on inflated oil prices.

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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