The end of elite liberal media empires and rise of citizen journalism

Mick Gregory

Hugo Chavez has the support of Democrats such as Barbara Boxer, Bernie Ward, Nancy Pelosi, the entire Kennedy clan… Why? Chavez wants to turn the Americas into communist nations, that’s one reason. Why is oil selling for $125 per barrel? About $75 dollars of that can be pointed to Chavez and Iran’s OPEC manipulation.

Where does Obama stand on Hugo Chavez and his brand of politics?

Today (05/09/08), The Wall Street Journal published a report that outlined the ties between Venezuelan President Hugo Chavez and communists attempting to overthrow Colombia’s government. Chavez has been linked to Colombian rebels previously, but the paper reported it had reviewed computer files indicating concrete offers by Venezuela’s leader to arm guerillas. That appears to heighten the chances that the U.S. could impose sanctions on one of its biggest oil suppliers.

“If we put on sanctions, I’m sure Chavez would threaten to cut off our oil supply,” said Phil Flynn, an analyst at Alaron Trading Corp. “Obviously that would have a major impact on oil prices.”

Light, sweet crude for June delivery vaulted to a new record of $126.20 in morning trading on the New York Mercantile Exchange before retreating to trade up $1.28 at $124.97 a barrel.

Even if Chavez cut oil shipments to the U.S., Venezuelan oil would still make its way to the U.S. via middle men, who would buy it from Venezuela and resell it to the U.S., Flynn said. But that new layer in the supply chain would bump up costs.