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Interesting reports, but I don't believe it because I have personal experience with this. I've been involved with people in Venezuela's oil industry, and they may talk a good game, but China has yet to receive that much oil from Venezuela despite billions invested there, and is largely abandoning the country. Anyone with oil industry experience has to laughing at those news reports right now.  Chavez is a hustler, and he's hustled some of the biggest powers in the world so far.  A simple visit to the facilities in Venezuela will show that it's simply not physically possible for China to get the oil that's being reported.  Everything is pretty much shut down and in need of parts and repair.

The US is dependent on oil, and it can get it from enemies and allies alike.  That's dependency on oil, not on a foreign power.

by santiago on Wed May 2nd, 2012 at 02:14:19 PM EST
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