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Then it's still the same lose-lose situation SA, Iran, and Kuwait face - export the remaining oil in order to fund the budget while the public riots due to lack of fabulously subsidized oil, or placate the public and watch the budget go into the red to the point of government breakdown. Iran is already grappling with this (even as it's largely presented as a lack of internal refinery capacity). [On a side note the middle east is in a far, far more volatile situation as their population levels can't be supported without (essentially) trading oil for food.]

you are the media you consume.

by MillMan (millguy at gmail) on Tue Jul 17th, 2007 at 04:47:20 PM EST
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without undertaking new capital investments aimed at diversifying your economic base, then you are going nowhere.  Chavez's advisors know this, but I am still looking for evidence of them acting on it.

"Beware of the man who does not talk, and the dog that does not bark." Cheyenne
by maracatu on Tue Jul 17th, 2007 at 05:25:03 PM EST
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And, I think we may soon see Mexico grapple with quickly dwendling oil dollars/pesos as the Cantarell field goes into steep decline.

I can swear there ain't no heaven but I pray there ain't no hell. _ Blood Sweat & Tears
by Gringo (stargazing camel at aoldotcom) on Tue Jul 17th, 2007 at 08:03:53 PM EST
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