Sunday, May 10, 2009

Obama's Mentor?

I was wondering why gas prices have gone up nearly a quarter and why oil prices have spiked just within the last week (check out the oil price banner in the sidebar).. and then I found out. It was, of course Obama's main man, his fellow traveller, who was busy in Venezuela showing Obama the ropes.

Take careful notes, Barack; this is how socialism is done:

A fresh round of expropriations in Venezuela has raised fears that the Opec producer’s already declining oil output could sink to its lowest level in the past 20 years.

Troops were mobilised over the weekend to assist Venezuela’s state-owned oil company, PDVSA, in seizing the assets of some 60 oil service companies, after a law was approved last week that paves the way for the state to take increasing control over its all-important oil industry.

“To God what is God’s, and to Caesar what is Caesar’s,” said Venezuela’s President Hugo Chávez, as he presided over the expropriation of at least a dozen rigs, more than 30 oil terminals and some 300 boats.

“Today we also say: to the people what is the people’s,” the socialist leader said to roars of approval from red-clad supporters on the shores of Lake Maracaibo, the heartland of the nation’s oil production.

This move forms part of a broader assault against the private sector, which Mr Chávez has increasingly blamed as Venezuela slides into recession. Simultaneously he is engaging in what opposition leaders say is a campaign of persecution of his political foes.

I'm sure our socialist in chief is watching the proceedings, admiring from afar: