Why? Because crude oil is sinking.
OPEC cannot do anything about it. The real reason is that the world economy is expanding, but at a slower pace.
Slower growth in demand is taking crude oil and all other commodities down.
How will Mr. Chavez pay for his grandiose socialist schemes if oil keeps tumbling? More debt and the debasing of the Bolivar.
George Dagnino, PhD
aka Peter Dag
www.peterdag.com
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