Mark Weisbrot and Rebecca Ray, “Oil Prices and Venezuela’s Economy”
Posted by Graham on November 19th, 2008
–Weisbrot and Ray from the Center for Economic and Policy Research in the US have taken a look at the numbers and show how it is that Venezuela, contrary to the right-wing reporting in Bloomberg, etc., will be in budget surplus even with oil at 50 dollars a barrel. Of-course, oil will not stay at 50 dollars a barrel, so Venezuela will be better than fine in the coming years. Have a read of the figures.
