Oil Bonanza to Boost Venezuela's Economy for at Least 2 yrs

[bemildred]

Venezuela's battered economy will grow more than 12 percent this year, and at least 3 percent more in 2005, and it should maintain that tendency for an additional two years propelled by high international oil prices, according to the country's banking and trade sectors.

Consecomercio trade association president Jorge Botti, who is also the president of Venezuela's Central Bank, and the head of Spain's Grupo Santander, Michel Goguikian, both expressed agreement with this prognosis at an economic forum underway here.

The forum on economic perspectives for Venezuela, the world's fifth-leading producer of crude, was organized by the Venezuelan-Spanish Chamber of Commerce and the Andean Development Corporation (CAF), and is being attended by invited guests from Venezuela and abroad.

Botti said Consecomercio predicts that Venezuela's gross domestic product (GDP) will increase between 12 and 13 percent this year and betweenI3 and 5 percent in 2005.

RigZone

[Parche]

1. oil prices

GW Bush is one of the main reasons oil prices are sky high

His terra threats and illegal invasion of Iraq has put fear
into the world, which does cause the price to go up
Along with the gas guzzling SUV's
There is no conservation effort by America anymore

[bemildred]

4. The "shooting oneself in the foot" aspect of US policy

in Venezuela is what I find most interesting about this.
And I do find Chavez an interesting political figure.

[Cerridwen]

2. Does that mean we're invading Venezuela next? n/t

[Judi Lynn]

3. Wow! Good news. Vene.'s economy got "battered" by the opposition

when it closed down businesses in strikes to squeeze Hugo Chavez out of office. They were content to put their employees through hell, in hopes their suffering workers would demand Chavez resign, similar to putting harsh embargoes on countries, in hopes the people will revolt in desperation.

This really looks better, doesn't it?

[bemildred]

5. The election was pretty much a stake in the heart for the opposition,

for the time being at least, and it would appear that Mr. Chavez
will have enough time in office to make his work difficult to
undo.

[ladybugg33]

6. I hope Chavez sticks to his word and helps the poor.

Education, food, medicine. Like Castro does.

[Commie Pinko Dirtbag]

10. Better

Chavez was elected. Venezuela is a democracy.

[David__77]

7. However, this should be noted...

I support the democratic revolutionary forces in Venezuela who are struggling to empower the oppressed classes. However, much of this economic growth is "rebound" from a severe contraction a couple years ago caused by right-wing sabotage and capital flight to Miami.

On balance, though, the oil boom will certainly help advance the Bolivarian process. I expect that it will empower many nations of the South generally, and enable them to assert increased economic independence.

[Commie Pinko Dirtbag]

8. Who would've thought an old TV show could boost a country's economy?

Sorry. Couldn't help myself. You may whack me over the head now. :crazy:

[bemildred]

9. Tsk.

Some things are better left forgotten.