Hugo Chavez doing what Hugo Chavez does best

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Driving the once great nation of Venezuela further into the crapper. Ahhhh... The benefits of socialism... From the Caribbean Net News:
Chavez puts Venezuela's clock ahead 1/2 hour
President Hugo Chavez Sunday announced that Venezuela's official time will be put ahead by half an hour starting January 1, and its first-ever offshore oil rig will start pumping before the year is out.

"Its about the metabolic effect, where the human brain is conditioned by sunlight," Chavez said in a rambling, seven hour discussion on his radio show "Alo, Presidente" with Science and Technology Minister Hector Navarro.

Specifically, Chavez said the Law of Metereology will be changed to reflect Venezuela's new time grid on the map showing it to be three-and-a-half hours behind GMT instead of the current four hours.

Minister Navarro said the longer day would benefit "all Venezuelans in their jobs and studies."

Chavez also announced Sunday that before 2007 runs out, Venezuela will begin pumping oil from its first offshore rig near the coast of Delta Amacuro state.

He said the the rig will mark Venezuela's first exploitation of crude from the ocean bottom in its 100 years of oil-pumping history.

Chavez also announced an ambitious plan to build several artificial islands off the coast of Venezuela to harbor cities, submarine bases, scientific research centers, as well as oil and mining facilities.

"There's 760,000 square kilometers (294,000 square miles) that no other country but Venezuela has a right to," he said referring to Venezuela's continental platform.
And I would love to know where he plans to get the money for this: "Chavez also announced an ambitious plan to build several artificial islands off the coast of Venezuela to harbor cities, submarine bases, scientific research centers, as well as oil and mining facilities." President-For-Life Chavez already nationalized the power infrastructure, the telephone infrastructure and most of the refineries. Tell me what sane nation or corporation would be willing to invest money in Venezuela right now. They come in on their own dime with a contract that says that they have the rights to extract a decent profit down the road. They build up the infrastructure to the point where it is an operating business and then, whammo!, that business is now the sole property of the Venezuelan 'people' with little or no recompense to the outside parties involved.

1 Comment

fortunately for Venezuela there appear to be a great number of insane nations and corporations who are investing at record levels to match the economy booming at record levels. you don't have to approve of anything happening there but you owe it to yourself to do a simple fact check.

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This page contains a single entry by DaveH published on August 21, 2007 11:51 PM.

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