–Two nights ago I heard Hugo Chavez say that Citgo was selling its 41% stake in the Lyondell refinery because it was generating losses.
Today I read that the purchase of that same stake by Lyondell may give it a higher credit rating as the company bouth Citgo’s stake by borrowing US$ 2.65 billion, but the purchase of that stake in the plant will generate it abour US$ 880 million in additional income. Thus, PDVSA sells for US$ 2.2 billion something which gives Lyondell US$ 880 million per year in eranings at current oil prices. Doesn’t sound like this was a losing proposition to me. On top of that PDVSA’s investment in the refinery was US$ 830 million in 1994 and the plant was upgraded from cash flow form operation, so that PDVSA made a nive and healthy profit from it. Does Chavez not undrestand? Or is he simply lying?
–The new President of the National Assembly said today (El Nacional A-2) that “The opposition was not needed in the Assembly”
So much for these people being democratic, when they are ready to exclude at least 40% of the political representation in the country. These people are fascist and autocratic. On top of that they are incredibly inefficient. The number of important laws approved in this term has been the lowest in the Assembly’s or Congress’ history. They also did incredible things, like approving the change in the flag and Coat of Arms without estimating the cost. This is against the regulations.
–Well, it sounded good while it lasted, but Chavez seems to be reading the same polls that we do, he no longer thinks that ten million votes is possible:
“Less than six million, don’t even think about it. It’s a long way to
ten million, but we are going to get closer. Let’s assume we will get
to eight milion votes”
By now he may be even talking about total votes in the election, not Chavista votes. How times change, 50% abstention and he may not even get 4 million votes in December.
—Last night Chavez told graduates of the Bolivarian University that they had to learn to be poor and humble.
Easy to say, as you check your Cartier watch, fix your Lanvin tie and leave in a helicopter. Typical expression, proving he wants everyone to be poor, not create well being and wealth for all.