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I can see why it's a good deal for us, but what's his motive for doing so. Surely he would really want prices to rise and improve his economy ? The world still has to buy the oil, however difficult to refine. There's nowhere else for us to go.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Apr 3rd, 2006 at 06:22:56 AM EST
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I did wonder that, but my guess is that if a long term agreement is formed, this reduces the incentive for the US to mess about with the internal politics of Venezuala, which from Chavez personal point of view makes life a lot simpler.
by Metatone (metatone [a|t] gmail (dot) com) on Mon Apr 3rd, 2006 at 06:57:37 AM EST
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Because by increasing the officially tally of reserves, he would be able to sell more oil while staying within the OPEC agreements.
by asdf on Mon Apr 3rd, 2006 at 08:40:53 AM EST
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