I warned Melonhead and his Psychotic Dwarf companion
again and
again. Oil's now
down 50% off its peak. Melonhead
knows what that means.
According to studies prepared by PFC Consulting Limited, a Washington-based wholly owned subsidiary of Power Finance Corporation Limited, and German bank Deutsche Bank, Venezuela is the most vulnerable country to the financial crisis.
PFC considers that Venezuela needs that the price of oil averages USD 97 to balance its accounts while in 2000, the South American country required that the price of the barrel of petroleum was USD 34.
The results of the study, released by Reuters, show that Nigeria can balance its budget with a price of USD 71 a barrel; Iran (USD 58); Saudi Arabia (USD 62); Kuwait (USD 48); United Arab Emirates (USD 51) and Algeria (USD 35).
Deutsche Bank says that next year Venezuela and Iran require that the average price of oil remains at USD 95; Saudi Arabia at USD 55 and Russia at USD 70.
The 80s oil bust bankrupted many of these thugocracies. Today's oil bust will do the same. Chavez and Ahmadinejad will be swinging from lamp posts this time next year. But this oil bust makes Putin much more dangerous. His Georgian adventure was merely a preview of what he intends to do to rile up the oil market.
I warned Melonhead and his Psychotic Dwarf companion again and again. Oil's now down 50% off its peak. Melonhead knows what that means.
7 comments:
The "Ha ha" moment comes when Melonhead "invites" the return of foreign investment and the foreign investors give him the Cuba treatment. "Give us the billions you stole from us and we'll think about talking to your replacement in twenty years or so."
Chavez and Imadingdong. They come and they go. 100 years from they'll be doing exactly what they were doing 100 years ago - eating figs and chopping off each others heads.
Ahmadinejad's toupée looks almost as bad as mine! ;-)
Casey, clean up your room! And no one wants to see a picture of your crusty underwear.
Funny that the guys who were the loudest to proclaim the decline of the West are in the most fragile positions themselves.
Damn! And just when Russia really needed that Venuzulean order for new fighter jets.
I wonder how much oil is still flowing gratis to Cuba right now?
wonder how much oil is still flowing gratis to Cuba right now?
Ditto for his free home heating oil bribes.
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