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Friday, January 12, 2007

Chavez Becoming Typical Dictator with Nationalizations

Although Venezuelan President Hugo Chavez won reelection and is supporting Joe Kennedy's election commercials-- oops-- low-priced fuel oil program for low-income people, he has announced plans to nationalize of electricity and telecommunications. This is right out of the Dictators 101 handbook. It is also bad business. There goes foreign investments in Venezuela. Probably the shareholders dividends too. AES, Verizon and other American oil companies will suffer under this state takeover.

But America is Venezuela's biggest oil customer and Chavez hates us but takes our money. And we take his oil. Maybe Joe Kennedy can influence Chavez. After all, he did get him to pay for his campaign commercials. And where are Harry Belafonte, Danny Glover and Cornel West when you really need them to influence Venezuelan foreign policy?

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