Chávez seeks to peg oil at $50 a barrel

[method77]

Venezuelan president Hugo Chávez is poised to launch a bid to transform the global politics of oil by seeking a deal with consumer countries which would lock in a price of $50 a barrel.

A long-term agreement at that price could allow Venezuela to count its huge deposits of heavy crude as part of its official reserves, which Caracas says would give it more oil than Saudi Arabia.

"We have the largest oil reserves in the world, we have oil for 200 years." Mr Chávez told the BBC's Newsnight programme in an interview to be broadcast tonight. "$50 a barrel - that's a fair price, not a high price."

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[Malicious Intent]

Bush will have him shot before that happens.

[Ken]

I just wish Chavez wasn't so authoritarian and paranoid at home.

You can have a socialist country without jailing political dissidents.

What the hell is wrong with him? He’s ruining the chance to prove you can have the best of both worlds (non-totalitarian communism mixed with capitalism).

I don’t get it; his people did elect him. I know the CIA attempted to oust him (and failed), but you don’t solve that by becoming oppressive to your people. That doesn’t help.

[method77]

He is not oppressive to his people. I've talk to people from that country a billion times and noone has told me that.

He has a different style of making decisions by screaming and shouting but people want that. He is the best president Venezuela has had in many years.

Now, if american media say else then... ok