Bush refuses cheap oil

Originally published 9/16/06:

This is pretty amazing.  According to this Palast interview with the President of Venezuela, Hugo Chavez, Chavez recently offered to sell the US oil for 50$ a barrel… an offer that would make oil from Venezuela about $1/gallon cheaper at the pumps.  I believe that oil is about $75/barrel currently.  The price would be fixed at $50/barrel, thus insuring a long future of financial returns on Venezuela’s investment into heavy oil refinement.  It appears that Bush has turned down this most generous offer due to his close ties to the House of Saud.

Unless someone can teach me a good reason why it would be a bad idea to take Chavez up on his offer, I’ve got to consider that this is another part of the massive secret combination of the latter days. 

http://www.venezuelanalysis.com/articles.php?artno=1818

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