The price of oil has dropped by over 70% in just six months, causing panic in many countries who had become dependent on high oil revenues over recent years. Miguel Tinker Salas explains to The Real News that Venezuela had planned ahead for the price drop, by stocking up on US dollars. Furthermore, most...
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US media covers Chavez victory and calls it a defeat Allies of President Hugo Chavez’s won a strong majority in Venezuela’s local elections on Sunday, winning 17 of 22 state governorships and 265 of 327 mayoral races. The opposition made important gains, capturing the Caracas mayor’s office and two of the most populous states....
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