pretty soon they will buy more Chines goods than Americans?

Our politicians have been doing the same forever. They still do they same. They make all kinds of shady deals. Then they tell the voters, "a chicken in every pot." So we do it. all the time, forever, and it's good ol' , real 'merican ingenuity. They do it, and,w well, what a liar, back room deals, select facts, select memory. What do you thing you have in this election? In the debate, Obama siad there is a bill in commitee on the budget and defiecit ready to go. Romney said, well, go do it, your the President, you've had four years. GUESS WHAT HE LEFT OUT: The Republicans for four years did everyghing they could to stop or undermine anything Obama did. Now, they are SO HELPUL AND FULL OF IDEAS. Yeah, Chavez is a politicain. Romney is NOT? C'mon. More political spin and nonsesne.

When a person becomes president it is based on the idea they are skill and capable enough to get the job done regardless of others who might obstruct achievement. If Obama is not able to work WITH the republicans than don't give him excuses for failing by point fingers at the republicans. Obama said he could do it but he cannot or has not.

The facts that our politicians have been doing shady back door deals for years are even more reason to adopt the Tea party stance of shrinking our government. For the last 150 years our government has grown so large that it is now a primary entity in our lives. It was only suppose to be a hint in the background. We the people were supposed to be the focus of this nation not the federal government.

They are happy with Chavez. He helps the population. Installing the Wealthy oligarchy candidate would not do. Chavez has been very good for Venezuela ans South America !

Very good !!!!!!!!

This entire story is a joke anyway.

The ballot boxes will be sufficiently stuffed come election day, and if not during the 'recount' process the challenger will 'disappear'. Venezuela is a dictatorship, the elections are a puppet show for the world stage.

Chavez will just pull the old "hanging chad" routine and their courts will give him a disputed election win.

Chaves is dictator, time to go.

Caracas, Venezuela:
Population: 3.2 million.
* 233 murders per 100,000 inhabitants... (ref: Overseas Security Advisory Council/U.S. Dept of State, July 2011).

* The New York Times reported 8/22/2010 (Simon Romero)... "In Iraq, a country with about the same population as Venezuela, there were 4,644 civilian deaths from violence in 2009; in Venezuela thatyear, the number of murders climbed above 16,000.

Even Mexico's infamous drug war has claimed fewer lives."

Chavez is going to literally kill this opponent. The guy must have a death wish, or Chavez perhaps wants to retire, and secretly has a deal with this guy. I wouldn't put my family in so much danger by running against Chavez. They could all quite easily disappear.

Can't we find out where Chaves' food sources come from and dust it with spent uranium or something ?

The real story behind your story is how we (laissez faire capitalism and the so called global economy) have contributed to the success of China and their ability to become a world wide power player. So, lets give a big, big thank you to Wall Street for driving America's manufacturing sector to China, forcing the US consumers to resort to cheap, Chinese made goods.

Listen to what Lincoln said about just this issue - "When we buy foreign made goods, we get the goods and they get the money. When we buy domestic made goods, we get the goods AND the money".

While profiting from short term policies, the investor class has destroyed our own ability to produce for ourselves, and at the same time created our own decline and possible demise. Greed, like aggression, has to be nipped in the bud, or like aggression it only gets worse. That's why the policies of Reagan, the supply side economists, and the demands of "get government off the backs of business" was such a colossal mistake. Letting business "self regulate" is like letting the inmates "self regulate" the prisons. And as a side issue, all of this simply proves that there is indeed an on going class war in the USA.

Bill,

For the first two years the Republicans could not stop Obama. In the mid term elections the American citizens responded to Obama care by giving the House back to the Republicans. They wanted the Republicans to stop Obama. In a few weeks they will do so for good, then we'll get to see what kind of felons Obama pardons.

But....but.....but.....Chavez said he WOULD VOTE for Mr. Obama.

Time to turn Air Force 1 around and head South to Venezuela and campaign for Chavez.

Interesting how similar Obama and Chavez are. They even spout the same campaign rhetoric. Chavez has created a dependency state, give them some, but not enough. Huge slums where people live in squalor, existing on government 'largesse' and afraid to vote against him.

Chavez is only buying off the people of the country while he and his cronies get filthy rich, funny how it works and the people only have the election to change how things are done. If they don't vote Chavez out this time it will only get worse for the whole country as Chavez only cares about himself and not the real people of the country.

They really need to trust this new guy and go with him and make there lives and the country a better place to live, it won't be easy but nothing in life is ever easy if its worth anything.

The whole country needs to move forward and with Chavez in office it will never happen. I would rather vote for a monkey than Chavez but then again my vote isn't worth anything.

I Wish the country the best! (Without Chavez that is!)

Don't we have the same thing here with the Republican oil rich cornies???

hahahaha, let them build refineries with Chinese technology. China is not known for their petrochemical savvy.

Chavez is the best reason for Americans to have Voter IDs!!!

America: Stop breastfeeding these pathetic third world crapholes and use the US Army to defend American values.

@Ken Trout:

hahahaha, let them build refineries with Chinese technology. China is not known for their petrochemical savvy.

Sure, the Chinese have a lot of catching up to do. But we said the same thing about their abilities in computers, aerospace, manufacturing, and finance not so long ago. They have made huge strides in all of those areas.

China has spent, and continues to spend, huge amounts of money in the Third World in an effort to secure access to natural resources. Chinese companies and government (which are sort of the same thing) are all over the place in Africa, South America, and southeast Asia, surveying, buying off the local authorities whether they be elected officials or warlords, generally making deals with whatever devils they have to in order to get their hands on petroleum, minerals, timber, etc.

Don't underestimate the Chinese. They understand the "long view" a lot better than we do here in the US. Our country is a little more than 200 years old. That's a blink of an eye in terms of China's history.

Menoseeno your hate consumes you!!! I know I wont be able to change your views. On hispanics but they must really be your HIS_PANIC. Truth be told if you would try and learn a bit about our US history. There have been Mexicans on our side of the Border since before we were a country.

They go by names Like Texans Californians Arizonians New Mexicans. Chicano's all of them. Hell some Mexicans even fought on the USA side to free themselves from Mexico and Spanish rule. Your bigotry is astounding and your knowledge is lacking. People from my MEXICAN AMERICAN SIDE of my family have fought in every war since our war with Mexico. My great Uncle Had 3 tanks blown out from under him in WWII. He was Mexican American. Chicano.

Every group of people in this country have their Good and their BAD. Even Whites and blacks and Chinese Russians everybody. Has Criminals and YES illegals among them. I met a guy whose VISA expired from LONDON. He's illegal and his friends at the bar and the place he works at just look the other way. I just told him hope you can get that fixed.

I am glad I come from a Native American bloodline and am mixed with Chicano bloodlines as well. I am glad I do not live in Some of these south American Countries. Yet Crime here in the states is bad. There are people starving here (regardless of color) And Capitalism is running away from the USA.

And placing blame on (those people) is just a cop-out. Grow up

joeyfromcali:

Didn't you ever hear of the Alamo and how Mexican soldiers murdered American immigrants in 1836 Texas? How about the Goliad Massacre. Mexico invited them to settle there a decade before.

Why did Mexicans execute white people who had surrendered? Then burn their bodies? However, the Mexicans who died at the Alamo were given a christian burial. Racism started with Mexicans not Americans.

THE TRUTH WILL SET YOU FREE!

Chavez should give out Obama phones ... that will get him re-elected. Strategy: Keep 'em on the plantation ... it works just as well in Venezuela and the weather is better! What did Obama promise about eliminating imports from Chavez/Venezuela in 2008 ... and then he meets him as President and gives him a 'high-five' ... then he concedes all the oil to the Chinese? More campaign crap and lies.

Perfect. The truth, the whole truth, and nothing but the truth. There will be NOT MUCH for changing our enegry production and travel from Oil or Coal, and throw in natural gas UNTIL the very rich, very powerful are not so rich or so powerful. It happens, Sooner or later. But not until. Detroit made gas guzzlers for years because the profit margin was high. When gas prices spiked, and no one bought their SUVs, and they almos went under, and our SOCIALIST PRESIDENT, Obama, bailed them out, and now, thousands of people are employed, and paying taxes. Now they are making quality, high mileage cars and making a profit. That's what it took. And people, well, "I am not driving a small car. I want my family to be safe on the road.." UNTIL that goes out the window when gas is $4.00 a gallon. I have always driven a small, better mileag car BECAUSE I like go go places AND I also like the extra money for other things rather than for gas. IF I did not travel so far (70 mile one way commute when I don't stay over), I would buy an electric car BUT they only go 40 miles or so and there is NO place to charge them.

In one statement you talk about how bad the big car companies were then you talk about giving them money from our taxes. Are they so bad with the high profit margins on gas guzzlers that you condemn them but not bad enough to let them reap the rewards for their short sightedness you also point out?

If their actions that you point out were so bad then when that bad actions caught up to the car companies and they began to fail NO BAIL OUT should have been given to them. They should have failed and the assets sold to someone who would run their business with more forethought and intelligence. Our SOCIALIST PRESIDENT”S” should never have used tax payer money to help isolated businesses. A tax decrease to EVERYONE would have been the only constitutional action. Let bad companies fail so good ones will grow with the lessons learned.

Maybe not. That was an opion. Let the banks fail, Let the car companies fail. Let the housing market fail, I never said I was against that. Thing would have been a lot different. Maybe another 1930s depression. Maybe not. No one knows. All I know is Detroit would never had made quality, fuel efficient cars IF gas didn't go up to $4.00 a gallon. Detroit never cared about fuel effieincy. They were making good profits off the big trucks and SUVs. Why think or worry about tomorrow. Making good bucks today. UNTIL gas went up to $4.00 a gallon and everyboy bought Hondas and Toyotas. Detroit didn't say, oh, we'll have to make smaller, more fuel efficient cars. THEY WENT BELLY UP. They never would have survived IF the federal government didn't bail them out. NOW, they make quality, fuel efficient cars. Now, they have to.

I disagree that more efficient cars would never be built or sold. I have been working on those ideas for a long time now. I have friends working with me as well. The only thing $4 gas did was make the change speed up while it hurt the people. It is best if the system changed without having to hurt anyone in the process. Long before the $4 gas I predicted 10% of the cars would be some form of electric by 2005. So without the increased price I already saw the change underway. I was off and that even with the $4 gas.

Advancements always happen. It takes a calm self-disciplined person to have the patience to wait on it. Forcing it into place will only break something and make it take even longer.

And in LaVall's line of thinking, if those surviving companies and their jobs happen to be in Japan, Korea or Europe then that's just fine. We didn't need that million plus jobs, nor did we need the two million other jobs that supplied breaks, hoses, belts, seats, locks, or other parts to the manufacturers. Folks who think like LaVall there are why we're in the mess we're in. Too short sighted to see their own nose. They couldn't do a bankruptcy, the corrupt banks who Bush had just bailed out wouldn't loan the money. You wonder why people aren't buying, why the economy hasn't come back as quick as we would like, maybe 20% plus interest rates have something to do with that. One day people will wake up and figure out where the real trouble lies. Corporations, including banking corporations are NOT people they are engines of greed and nothing else.

And in your line of thinking, Amused, it somehow makes sense to complain about a lack of jobs and decry corporations in the same breath. The entire economy is an engine of greed and nothing else; so what?

LaVall is right. Change, advancement, and growth isn't something you can force without causing a dozen problems and setbacks in the process. And if jobs end up going to other countries, oh well. You can't control an economy; everyone who's tried has failed. It's bigger than us, bigger than government, and much bigger than the politicians who run campaigns based on tribalism and cheap promises.

/

,

"The South American country is the fourth-largest supplier of oil to the United States".

Did you read the article?

Pretty soon Greed will hit the average business man there and it will change.

Venezuela subsidizes oil to the US "to the poor"?

How is that possible? Venezuela has no mechansim for determining where the their export oil is sold and used here. There are no charities or NGOs I'm aware of that provide gasoline to the impoverished. That's a rather bizarre claim you're making.

Also, perhaps Venezuela provides petroleum to Iran? While Iran has plenty of oil, in my recollection they have few refineries (on account of those being much less profitable).

Mikeo76

"The South American country is the fourth-largest supplier of oil to the United States".

Energy policy will be a President Obama’s key vulnerability in November. His goal has always been to encourage alternative fuels by raising conventional energy prices. Alternative energy may poll well, but the average voter who fills his tank with $4+ gas on the way to the ballot box will certainly “Hope for Change”. with them. They need us, we need them. We need to build refineries that can refine heavy crude. We could be paying up to 25% less if we did.

Energy policy will be a President Obama’s key vulnerability in November. His goal has always been to encourage alternative fuels by raising conventional energy prices. Alternative energy may poll well, but the average voter who fills his tank with $4+ gas on the way to the ballot box will certainly “Hope for Change”.

SF Accountant - Yes Venezuela helps poor Americans through Citgo, just google it.

Okay, I googled it, and I think I have it worked out.

Yes, Citgo supplies free and discounted HEATING OIL to the poor. So, yeah, Venezuela is totally giving away oil to poor people in the US through their subsidiary, and not gasoline. That makes a lot more sense, and it's important to make that distinction. The United States buys a lot of oil from Venezuela for petroleum, and it would make no sense for them to subsidize that.

ES that is exactly why my gas tank will never see a CITGO station.

The neoliberal reformers from the US have done it to dozens of countries around the world. Chavez came to power and has consistently been attacked by the US due to the nationalization of oil resources and the frustration the US government funders feel toward knowing all that profit is there but not being able to exploit it.

We've bullied South America ever since we backed Pinochet's coup over Allende on 9/11/73. Many of the countries we exploited are fighting our capitalist exploitation now with leftist governments... Chavez, Morales, Correa and others are turning around countries decimated by years or decades of brutal neoliberal 'reforms' from US-backed multinational corporations and the IMF/World Bank.

We were doing it long before that. United Fruit being one of our chief power-grabbers. All that terrific infra-structure that they laid was for their own use, not for the people. The locals could work in their fields/orchards/plantations for dirt or they could not work. And we wonder why these countries have turned to socialism? The USSR was the only kid in the playground big enough to push us back. Of course they would be willing to step in and fund "change"! If we had reined in the corporate Borg to begin with and treated these nations as neighbors instead of our own private cookie jars, then we likely wouldn't today be having to deal with the likes of Chavez, et al.

I know datz right...what about Obama's loan to Columbia for oil exploration,,,

/

Typical kennedy, wants somebody else to help the "poor",what's with the mcdonalds add blocking my reply further up?????

The goverment has to subsidize gas prices at a cost of billions of dollars annually. It's all part of the Chavez illusion http://articles.marketwatch.com/2011-03-16/industries/30810691_1_gasoline-prices-price-hike-venezuela

because what usn's pay for it underwrites their loss leader

Because the oil/gas thieven bastards (Remember Libya?) like the UNITED SNAKES (US/EU) pay an extra excise tax. LOL! :)

They don't give any to the US on the cheap. We pay full price.

We are, after all, the Great Satan. It doesn't seem to bother Chavez that the Great Satan funds his little projects, but then, that's just politics.

We will NEVER come up with mass produced clean energy or alternative energy sources UNTIL we have uses all of ours up, along with the polllution and the mess it will leave, and the rest of the world (Russia, China, India, Africs) puts dibs in on the world supply. The days of an oil pipeline from the Middle East and South America to Dick Cheney;s back yare is over. Obama wants to push and invest in cleaner energy and new ideas. Romeny wants to let the coal and oil companies do what they want. Romeny will win BECAUSE the defciet is killlin us. But, while he straightens that out, he will take us back to the 1950s. Let the states handle the oil and coal contrats. The states are broke so they will take whatever they can get and let the oil, coal, and energy companies do what they want. Air and water polluition will come back big time. Air and water travel. So state A who has no environmental laws will pollut state b that does. Who cares? Things are better UNTIL our grandkids grow up AND THEN they will be where we were 50 years ago, Billions to clean up the mess and a scramlbe for new energy. Maybe then will someone say, hey, there is NO more easy oil or gas or coal, The air and water is polluted. People are getting sick. Energy costs too much putting people out of work. We will be back to where we are now BUT who cares? Let the next generation worry about it. Why should we plan, think ahead, or try to use science and technology to change the energy sources we use or the way we use energy.

So because someone else had a better bling you think it is alright to take it? Just because someone put their time and energy into building something and is now receiving the harvest of their sowing but it is so much more than you it is alright to take it? If a company is truly corrupt then arrest them and be done with it. Otherwise stop being greedy. Stop thinking you should have what others have earned.

You speak hypocrisy when you talk of freedom but then decide that freedom does not extend to anyone who just might have become wealthy or knew how to make a business grow well.

Who says a country does NOT have the RIGHT to control its own resources. Are you telling me, the United States has a RIGHT to tell Venezula they can NOT own their own resources. New Hampshire. A state in the United States. Do you know who owns and runs all the liquor stores in that state. The State of New Hampshire does. Supemarket and convenient stores can sell wine and beer BUT all liquor sales are through the State Liquor Stores. So, are you going to tell New Hampshire they have NO RIGHT to own the liquor stores and that they must give them all up to private enterprise? Because if you ask me, I think it's a great idea. They get ALL THE PROFIT, which ends up going to the state. They CONTROL liquor, which is A DRUG. So, New Hampshire, A REPUBLICAN STATE, is NOW A SOCIALIST COMMUNIST STATE?

Bill, I normally refrain from saying anthing, however, you are confusing states rights with federal rights. This is a subject that the leaning left crowd really needs to brush up on and find out exactly why it is so important.

Okay. What does Federal Rights have to do with National Soverignty? Our fedreal govenment HAS THE RIGHT to tell ANOTHER SOVEREIGN NATION it HAS TO let Exxon own the oil underneath Venezualan land? If thst's OK, can another country tell us WE MUST let an company in their country own something here? Like lumber in our national forests? Why do we have the right to set those trees off limits for their furniture factory?

Bill-4012182 -- According to the US constitution the federal government of the US does NOT have the authority to own ANY private business. Only by violating our constitution has this happened. The state of New Hampshire can if their constitution allows it. Venezuela can as well if their constitution of laws or whatever their government is based on. No matter how good of an idea it may be when that idea trumps or violates others rights it no longer is a good idea. This is true no matter how beneficial the idea may be to the nation.

I never said the Federal Government has the right to own anything. I said what right does the United States have to tell another country its government can't own anything? Because we do NOT think it is a good idea, what gives us the right to tell another country it can not do it. It can not do anyghing we do not do. It can not have laws different from ours?

There two areas that are being discussed. One is what do our laws state and how has the liberals or conservatives been applying those laws. The second idea is the overall concept of control over the people compared to freedoms. Venezuela may have laws that allow the government to cheat private businesses out of their assets but is that an ethical and proper thing to do? No it is not the ethical or proper thing to do but it is still legal. Do we want to change our laws and constitution here in the US to make this unethical and improper act legal? I don't for sure. And anytime I hear a politician talk towards or near that idea I get scared and I vote them out. Obama and most of the liberals talk this up most of the time. Even Romney makes comments that make my hair stand up.

Here is a long running problem. The United State, still a symbol of freedom, justice, dignity in the world does NOT always practices what it preaches. It is OK to stand up against injustice and traditions and culture that border on slavery, servitude, lack of freedom, soical inequality or injustcie, whatever. Saudia Arabia comes to mind. Our long time, stable, oil supplying ally. The right wing ranks all over Chavez because he nationalized the oil companies and at the same time runs around the world like a left wing, communist comrade. I don't see the right wing saying a thing about Saudi Arabia, who pretty much enslave their women, borders on child abuse by marrying off teenage girls to anyone with money, forbids practice of any other religion or no religion through imprisonment or death. Hey, they sell us their oil and stick by us. Venezula sells theirs to China and doesn't stick by us. If Chavez was a dictator (no elections) or was imposing martial law with kangaroo courts and secret prisons, and was not doing some positvie things for his people or country, I would say the same thing about him I say about the communists in Cuba, or the dictators in Iran. I don't think Chavez is a nice guy BUT it has nothing to do with him nationalizing the oil in his own country, IF THE UNITED STATES decided to PASS A CONSTITUTIONAL AMENDMENT (no court can overturn a constituional amendment) BARRING NON AMERICANS from owning property or resources in the United States, THEN THAT WOULD BE LEGAL HERE. It is NOT bad or good, it would be a choice THE PEOPLE OF THE US MAKE thru their elected officials. Consequences and reactions. Yeah, with everything anyone does. Right or wrong. No. Same goes for Venezual, The people there ELECTED HIM and he deicided THRU VENEZULAUN LAW to national the nation;s resources. Personally, I think it's a good idea FOR THEM.

If a country wants to keep their country's resources for their own companies, whatever, that's their choice, but it has to be recognized that Venezuela's oil industry has suffered under Chavez's management. He fired droves of people from the state-rul oil giant and filled it with Chavistas. The production record has declined and the safety record has been dismal ever since.

Do the people of Venezuela think it's worth it so that they have complete control of their oil (that they just sell to other countries anyway, often at a huge discount)? Maybe. We'll find out, won't we?

And the Valdex oil spill in Alaska which wiped out the fishermen's livelihood for a generation, resulting in increased alcoholism, drug abuse, suicide, and the BP oil disaster in Louisianna, ignoring their own safety rules, putting their own job security and company profits over production, in which 7 workers died, and the gulf area businesses destroyed for a very long time. I guess private enterprise always does it better?

Bill, you should really use google and educate yourself on Chavez and Venezuela. I mean that in all sincerity and friendliness. You are just completely wrong about this issue.

First off Saudi Arabia sells us Natural Gas. I agree with you, the USA should have nothing to do with that country.

Second, whether or not someone is tyrannical or a dictator has nothing to with with whether or not elections are held. Saddam Hussein, was a dictator who usually had about 100% of the votes each election year. Dictators are very often elected, much like Hitler. A dictator is someone who:

1
a : a person granted absolute emergency power; especially : one appointed by the senate of ancient Rome
b : one holding complete autocratic control
c : one ruling absolutely and often oppressively
http://www.merriam-webster.com/dictionary/dictator

Chavez tried to lead a coup against President Perez back in 1992.
"In 1992, Chávez and his band of over twelve thousand attempted to overthrow the Pérez government in a bloody coup that cost hundreds of lives. Although the coup was unsuccessful and Chávez ended up going to prison for the next two years, he became a national hero thanks to the media. In televised broadcasts he came across as a passionate speaker determined to make a change. ...
In rousing speeches Chávez condemned the two major political parties of Venezuela, accusing leaders of dishonesty, bowing to foreign investors, and mismanaging the country's oil revenues. ...
He formed a constitutional assembly that drastically reduced the powers of Congress; the assembly also reviewed the judicial branch in an attempt to rid the courts of corrupt judges. In the biggest move, Chávez and his assembly reworked the Venezuelan constitution; the new version was approved by 75 percent of voters on December 15, 1999. ...
The opposition accused Chávez of going too far; they also claimed he was a kind of diablo, or devil, who was undermining the democratic state of Venezuela. In an interview with Lally Weymouth, Chávez dismissed such charges: "Some sectors, from ignorance or prejudice, keep saying that in Venezuela there is a process of concentration of power underway. The truth is we are doing away with an authoritarian model that was disguised as a democracy. Representative democracy failed completely in the past. Party leaders who said they represented the people, betrayed them. I want you to understand the battle we are waging. It's a revolution."
http://www.encyclopedia.com/topic/Hugo_Chavez.aspx Go there to read more

"Chávez successfully won his third term in office in the presidential elections of 3 December 2006. Following his re-election Chávez moved to strengthen his hold on power by passing legislation allowing him to rule by decree — without reference to the National Assembly — for 18 months. In addition, Chávez refused to renew the licence of Radio Caracas Television, a television channel that had been critical of him. The station was subsequently replaced with a new state-funded channel.
In a constitutional referendum in December 2007, Venezuelans rejected — by a narrow margin — Chavez's proposal to amend 69 articles of the 1999 Constitution to complete the transition to a socialist republic. Amongst the proposals defeated included: a proposal for no limit on presidential terms; greater presidential control over the Central Bank; a maximum 6-hour working day; the right to expropriate private property by decree; and the removal of intellectual property rights for foreign companies investing in Venezuela. However, in November 2008, Chavez announced another attempt to alter the constitution to allow him, and other senior office holders, to run for re-election beyond the end of his current term (2007-2013). The referendum was held on the 15 February, 2009 with a solid 54% of the vote supporting Chavez in his bid to eliminate term limits for the offices of the President, as well as state governors, mayors, and National Assembly deputies. Chavez has since declared his candidature in the next presidential elections, hoping to remain in his position until ‘2019 or 2021'."
http://www.dfat.gov.au/geo/venezuela/venezuela_country_brief.html
As you can see, he wants to remain in power as long as he's alive. That my friend is a dictator. Not only has he sought to stay in power indefinitely, he also formed a corporation

"In 2005, as oil prices were reaching new highs, Chavez found a way to sidestep bureaucracy and speed up spending.

Rather than creating a new state agency, Chavez founded a corporation: National Development Fund Inc, universally known as Fonden. Its status as a corporation owned by the finance ministry lets it disburse billions of dollars in state money while subject to few of the reporting and disclosure requirements that apply to government entities.

Money funneled through Fonden is ultimately spent by government agencies, similar to funding from Congress. But it doesn't require congressional approval. Instead, Fonden outlays begin with Chavez's approval and are viewed by a board of directors made up of his closest allies."

http://www.reuters.com/article/2012/09/26/us-venezuela-chavez-fund-idUSBRE88P0N020120926

Oh and btw, Venezuela nationalized the oil industry back in the 70's. Chavez merely complained that 60% of the money went back into the Nationalized Company rather than the majority of the money going to the government's purse. He now takes 10% of the oil revenue and puts it back into social projects. That's it, just 10%. The foreign oil companies were there to help with extraction and production. THEY DID NOT OWN THE RIGHTS.

On top of all these issues, the efficiency of PDVSA was coming into question over the years. From 1976 to 1992, the amount of PDVSA’s income that went towards the company’s costs was on average 29 percent leaving a remainder of 71 percent for the government. From 1993 to 2000, however, that distribution almost completely reversed to where 64 percent of PDVSA's income were kept by PDVSA leaving a remainder of only 36 percent for the government.^{[13] ...}

Chávez began setting goals of reinstating quotas, such as ten percent of PDVSA’s annual investment budget was to be spent on social programs.^[15] He also changed tax policies and the oil revenue collection process.^[2] Chavez initiated many of these major changes to exert more control over PDVSA and efficiently deal with the problems he and his supporters had over PDVSA’s small revenue contributions to the government. ...

Venezuela could potentially increase production capacity by 2.4 Mbbl/d (380,000 m³/d) from 2001 level (3.2 MMbpd) to 5.6 MMbpd by 2025^[14] - although this would require significant amounts of capital investment by national oil company PDVSA. By 2010, Venezuelan production had in fact declined to ~2.25 Mbbl/d (358,000 m³/d). PDVSA have not demonstrated any capability to bring new oil fields onstream since nationalizing heavy oil projects in the Orinoco heavy oil belt formerly operated by international oil companies ExxonMobil, ConocoPhillips, Chevron and Total. ...

Venezuela President Hugo Chávez called expert reports that systematic underinvestment in the Venezuelan oil industry caused the August 2012 explosion at Amuay "irresponsible".^[21][22] The "string of accidents, outages and unplanned stoppages" then continued with a fire started by lightning at the El Palito refinery a month later.^[23]

http://en.wikipedia.org/wiki/History_of_the_Venezuelan_oil_industry

So basically Chavez has been strangling the Venezuelan oil industry by taking over more control and more money fro the company and not re-investing it into the oil industry. Then the foreign companies that own rigs ships etc that were helping Venezuela in their production output, Chavez cuts them off sending them packing. But he lacks the infrastructure and is taking upwards of 40-60% of the National Oil Company's profits and putting it in the government's purse, ignoring the need to reinvest that money back into the company. He's a greedy dictator, who wants to keep his power and is using the goodwill of the majority who happen to be poor(even now they're still poor) as a means of securing his vote. Men like him are the greatest cons.

Always? Maybe not. There is, after all, nothing preventing Chavez from hiring highly skilled workers for the state oil company, paying them competitively, and tightening standards. But he did not, and the production and safety standards have clearly and objectively declined, most likely because the oil workers are more well-versed in their political sciences than engineering.

The fact that you can point to high-profile cases of negligence and accidents at private oil companies is irrelevant to that point. Not that they're very persuasive in the first place... BP's disaster, which killed 7 people, doesn't look that devastating compared to Venezuela's refinery disaster, which killed 41. And he didn't even have the decency to take responsibility: http://www.guardian.co.uk/world/2012/aug/27/venezuela-oil-refinery-explosion-chavez

There's a distinct difference between a country developing and producing their natural resources themselves and one without the techological expertise to develop those resources themselves entering contracts with companies from other countries, homoring those contracts for years while they spend billions then simply voiding the contracts and taking it all for themselves. American and European oil companies spent billions locating and developing Venezuela's oil fields and Chaves simply seized them after they were developed. Hard to not see that as wrong.

annoying as all hell. I hit reload and got it to finally give up the page.

Larry Wasn't it because the oil companies who had the contracts to dig and sell the Venezuelan oil were cheating the country out of their fair share of the profits that Chavez Nationalized all the oil in Venezuela. I'm sure you are aware of double entry bookkeeping?

Thanks to Franklin Delanore Roosevelt (FDR), our ELECTED president, who, after the DEPRESSION, when ALL of the BIG BANKS failed, and MOST of the country was OUT OF WORK, and people moved and lived in camps to work, AND family after family was KICKED out of their houses becasue they had no job and couldn't afford rent or mortage, who AFTER ALL OF THIS, passed RADICAL, SOCIALIST legislation and CAME UP WITH SOCIAL SECURITY AND MEDICARE. Making MOST, not all, EMPLOYERS and EMPLOYESS and including SELF EMPLOYED PEOPLE being made to put a LITTLE MONEY away EACH PAYCHECK so that WHEN THEY GOT OLDER (OLD), they would get, NO MATTER WHAT, a little bit of money each month to help pay bills. No one gets rich. Maybe not enough is you still have a mortggae, or rent is too high. But, everyone had something. Guarantedd. Not free money. Money everyone was required to put in. OK, the cdemocrats first, and the the republicans, raided it to support wars and other things. BIG MISTAKE. But the idea was and still is, great. Everyone will get a little someghing, which is better than nothing. SOCAILISM. How about the public shcool system. I have NO KIDS yet I have to contribute to the publci schools? SOCIALISM? Get over and beyond the RIGHT WIND NONSENSE or refuse to collect your social securiy and refuse to send your kids to any school except a private one, where you pay all the bills. Oh, yeah, don't bother going to a community college or public university. All comes from tax payer money. SOCIALISM!

Bill you almost got it right, I will help you. barry's grandfather FDR you are correct started Social Security the largest Ponzi scheme ever. I am 62 just got my first check last month, thanks. My grandmother and grandfather collect for a number of years after paying in a very small amount, ie Ponzi scheme. My Mom and Dad both in their 80s are still collecting after putting in a little more than my grandparents, Ponzi scheme. Now we have 2 generations the greatest and the boomers (10k per day are signing up for SS benefits) in the Social Security line collecting and no one to pay, thus SS is broke. LBJ was the first President to dip into the SS fund, he did use for Viet Nam, but mostly for the War on Poverty. Remember that war, started in 1966 and never ended! He also introduced Medicare and Medicaid, which also are broke. Alls state pension to the lack of public service workers are also broke, see the big blue state such as Ca, NY, Ct, Ri and barry other home state of Ill. So it doesn't matter who runs for President, the Republicks and the Dumbocrat are both the same. There is no way mathematically that you can balance the budget without some kind of reduction in SS, Medicare and Medicaid, can't happen.

You are right. The democrats, who controlled the congress, the senate, and the presidency for a very long time after FDR and WWII because of the popularity of FDR and his rescue of the nation from total economic collapse and the initiation of the social programs, messed with it. They enacted laws to change it, borrow from it, expand it. It is BROKE thanks to the democratic party, and you can expand that to the repulicans too. People who never put a dime into collect from it. THAT IS NOT WHAT FDR SET UP. But, that does NOT make it a bad idea. Neither is the publc school system a bad ideas BECAUSE some kids can't read or write. Neither are the police and fire departments (socialist prgrams paid for with tax money collected with no taxpayer option out) just because there is crime. WHAT IS WRONG is our politicians who steal from these programs by borrowing the money for wars OR giving out enttilements to people who do not contribute. I GIVE YOU YOUR POINTS. You make vaild points. WE (the politicans) NEED TO FIX IT. But getting rid of it TAKES US BACK to the 1930s. Letting the oil and gas companies do what they want takes us back to the 1950s. Putting the breaks on birth control and sex education takes us back to the 1950s. Why not add segregation. That worked for quite a while UNTIL people got mad. I GIVE YOU YOUR VALID ARGUMENT. I do not support the right wing ideas for UNDOING EVERYTHING OR GOIND BACKWARDS.

How abou saving MILLIONS IN TAX DOLLARS by stoppin the tax breaks and tax subsicdies (TAX DOLLARS) to the very profitable, very wealthy oil companies who expense private jets, expensive conferences, million dollar bonuses to their CEOs, and good dividends to their shareholders. Obama put a bill in to stop all of this, and THE REPUBLICANS, all of them, VOTED AGAINST IT. Scott Brown, our illustrious non partisan, reach across the isle senator, backed the idea THAT the oil companies won't drill without these incentives. REALLY? If Company A decides NOT to look for more oil, no other company will either? What happend to right wing, laissez faire, republican capitalism? Not so good for the rich and well connected?

Cint8U right you are except it looks like the peeps in Venz are smarter than the ones we have here. Cause it looks as though barry gets another 4 more years to complete the destuction of the Ameircain economy.

As a card-carrying American socialist, Obama is NOT EVEN CLOSE to being one of us. Check out Jerry White of the SEP, or to a lesser, more Democratic Socialist extent, check out Jill Stein of the Green Party. Obama is a moderate, pro-corporate conservative.

ARMY, the truly interesting part of this article is that every non-US media outlet has known for months that Chavez has more than enough support to get re-elected, and that is even with the rumors of US-backed support of Capriles. Venezuela has one of the most fair and internationally observed elections in the world and yet NBC News calls fraud into question in this article before the polls even open... how's that for creating bias?

Chavez, and the people of Venezuela, will win.

Hey, Mathwin - you pendejo....

If you 'only' knew what you were talking about you would 'shut up!' When Exxon-Mobile, European Shell and the other oil thieves were raping Venezuela of its oil wealth (refusing to pay even their royalties, like 'good little US/EU thieves') Hugo was the 'darling' of the Latina America countries inside the US Beltway in the land of the Great Satan. When he finally (((kicked))) the thieven bastards out (But, not before making' them pay billions in unpaid royalties) he became (Like in Iran and Libya) the 'Marxist dictator bass terd. according to Washington, London, Paris and Brussels). Since then the Great Satan has tried to over-throw Chavez in a million ways. The CIA front groups (NED and USAID) have poured millions into over-throwing 'El Jefe' but at each turn Hugo has thwarted the US sonsofbitches (Yup, that's us!). Hugo kicked out the IMF and World Bank that had gotten fat (and sassy) lending money to these little Latina American countries at usurous Jewish rates that they could never hope to pay back So, 'living under bondage' these US mafia entities have then ordered tremendouss austerity programs on the people of Venezuela, Bolivia, Ecuador and many others, so that the IMF/World Bank could be 'paid back' their 'blood money.' Hugo has replaced the IMF/World Bank with 'Banco Sur' and the South American countries (90%) of them have benefited by removing the Great Stan's curse from these countries 'pockets.' The story is long and complicated. But, unlike Libyia where the US/NATO thieves have succeeded in murdering their leader, destroying the peace and serenity of the country and 'not' and turning the country over to their thieven oil 'Robber Barons' - Venezuela has not become an armed camp. Hugo Chavez lives in a modest home and not like the US oil Corpoaation presidents (thieves) that live in ther palatial mansions and drive Rolls Royces and Bentley's . Venezuela's childrens symphonic orchestra (made up of kids under 20) is world renowned and have even plyed in the lsnd of the Great Satan and his people's standard of living has improved 1000% since the US oil thieves we're 'excused' - not of their own free choice. He has opened up 'free clinics' in most all neighborhoods in the poor neighborheeds of Veneauela manned by Cuban doctors (which is paid for by sending oil to Cuba to the chagrin of the Great Satan). He has opened up small food cooperatives in poor neighborhoods where the oil money subsidizes low cost essentail food like meat, milk, fish, coffee and so forth. Yassar, Venezuela has 'lotsa oil' and the low life Great Satan works 24/7 to over-throw Chavez to take control of it - again! . But, so far only cancer has threatened Hugo and Venezuela's use of its oil to bring up the living standards for all Venezuelas and not deposited into US 'coffers. 'So, Mr. Mathwin, you can go to the corner of the classroom - put on your dunce cap - and shut the fugg up!

@AZCowboy: Your opinion isn't a bad one, but it is ONE. Other people have the right to express their opinions however, when an opinion is different than your own, you become and respond like a well read JERK. Clean it up, then maybe we could take you seriously.

In all fairness, Venezuela is seeing that money; but it all goes through Chavez's hands first. His government is widely regarded as incompetent and corrupt, despite its impressive track record of reducing poverty. I certainly wouldn't want to funnel all that money through what is essentially a political party.

I love the right wing. Simple, short platitudes and spin, or the only other weapon they use, insult and demean. Used to work UNTIL everyone figured out it was never about a debate or diffenences of opinion, but only about winning by making everyone else feel dumb or like losers. Well, it doesn't matter what anyone calls me, thinks about me, says about me, or even if the republicans win. The republicans won before, Richard Nixon (impeached), George W & Dick Cheney (lowest rating of any presidency in recent histoty), One republan senator or congressmen run out of office by one sex scandal after another. Win. It's temporary. Lose, It's temporary. What is permanent is I hate the Tea Party and the right wing and I don't care if I am right or wrong, the only thing that matters is throwig the more garbage back and throwing it back faster than them. I'm real good at it.

It just seems to me that you're repeating Chavez's talking points, here. Capriles has given no indication that he's going to "reverse" Chavez's changes. If you take his statements at face value (as you obviously take Hugo's), then he wants to keep the state mostly the way it is but make it more amenable to businesses and clean up crime.

SHUT THE HELL UP !!!!!!!!! I HOPE CHAVEZ WINS THE ELECTION!!!!!!!!!!!! The country is better off with Chavez than a wealthy socialist that is Henrique Capriles he would make the country go into more poverty. The people from Venezuela don't need a wealthy socialist ruling it because the only thing he would do is make the people suffer.

So Jenny, your also an Obama fan? Chucko in Venezuela is nothing more than a bully. So I agree, piss on him.

So, wait, if Capriles is a wealthy socialist, then what is Hugo Chavez? Hugo is wealthy (having the government coffers at his disposal), and last I heard he was a socialist. Is that all you have on Capriles? Wealthy socialist? C'mon, you can do better than that. Just drop in any political thread about US elections if you need inspiration.

A chicken in every pot: Promis it and you'll get elected. Don't and you won't

Obey and repent: Do it and you'll be downtrodded, submissive, and beholden, but saved. Don't and you might be able to think for yourself, do what's right for yourself, but go to hell

Power and money: Deserving of it and the right to tell eveyone how to live and to keep out of it because the well connected and rich know better. No money and no power: Accept your role in society and your fate in life. Obviously, you are morally lacking and not deserving

He NEVER had cancer. Like any person with Cancer their bodies deteriorates as the illness progresses. His "cancer" was the other way, every time he came FATTER from cuba to venezuela.

Didn't you hear? The cancer was caused by the United States, who cursed him using ancient demonic pacts with Satan. The real Satan, I mean. Not us.

Luckily Chavez is protected by God, and as such has cast off our dark magics.

What a waste of our witchcraft budget. Feh.