[news] Chávez: Venezuela has morer oil than Saudi Arabia

[Mostly Water - mostlywater.org = news.resist.ca]

Chavez rules out return to cheap oil  
By Meirion Jones  
Producer, BBC Newsnight

If you thought high oil prices were just a blip think again - Venezuelan President Hugo Chavez has ruled out any return to the era of cheap oil.

Mr Chavez has spent some of the oil money on social projects  
In an interview with BBC Newsnight's Greg Palast, Mr Chavez - who is due to host the Opec meeting on 1 June in Caracas - said he would ask the oil cartel to set $50 a barrel as the long term level.

URL: http://mostlywater.org/node/4473