Venezuela prices up after new devaluation

Venezuela prices up after new devaluation
CARACAS, Venezuela, Jan. 3 (UPI) -- Consumer prices soared in Venezuela as the government of President Hugo Chavez devalued the bolivar and the currency fell further against the U.S. dollar on traditional unofficial markets. It was the second Venezuelan devaluation in 12 months and follows the second Central Bank annual report in the same period confirming the Latin American country's economy continues to shrink despite its oil wealth, international trade and recovery from severe drought last ye...

Is there an Iranian missile base in Cuba?
Hugo Chavez, the yanqui-hating dictator of Venezuela, will not accept Washington’s proposed emissary and has dared the United States to break diplomatic relations. It seems Ambassador-select Larry Palmer’s sin is that he did not applaud Chavez when he used his rubber-stamp parliament to perpetuate his dictatorial regime. The State Department’s limp-wristed response was to cancel the visa of the Venezuelan ambassador. That, and silence from the White House, told the megalomaniac...

US considering seeking new envoy to Venezuela
WASHINGTON (AP) — The Obama Administration says it may nominate a new ambassador to Venezuela after its previous choice was rejected by the government of President Hugo Chavez. State Department spokesman P.J. Crowley said the U.S. believes it is important to have an ambassador in Caracas in order to manage relations, which have been strained by Chavez’s condemnations of the U.S. and by U.S. criticisms that Democracy is deteriorating in Venezuela. Crowley said Monday the administratio...

Hugo Chavez Takes Over the Federal Reserve
Time was when countries believed in strong currencies — strength measured not in the Rhetoric of bearded wise men but of bank vaults flush with gold coin. Venezuelan tyrant Hugo Chavez recently announced that he would be devaluing his currency on New Year’s day.  As the Wall Street Journal reported: News of the devaluation came just after the Central Bank said the Venezuelan economy contracted 1.9% in 2010, the second consecutive year of declining output in the oil-rich nation after a...

Caption This: Hillary shakes hands with Chavez
Saw this photo at Andrew Malcolm’s Top of the Ticket page: Photo courtesy: AFP/Adriano Machado Look familiar? It should . The AP’s write-up : Caracas, Venezuela - President Hugo Chavez and U.S. Secretary of State Hillary Rodham Clinton shook hands and chatted briefly Saturday in a rare cordial encounter amid a diplomatic dispute that has left Venezuela and the United States without ambassadors in each other’s capitals. The handshake came as leaders were milling about at the inaug...

Venezuela: Prez burial delayed over relatives' row
A bitter dispute between relatives of the former Venezuelan president Carlos Andrés Pérez has prevented his body being returned home from Miami. Mr Pérez's family in Caracas said the plan to fly the body to the capital was cancelled because Mr Pérez's longtime companion and daughters in the US said through their lawyers that they had never agreed to transferring his remains to Venezuela. That decision broke an apparent agreement reached between relatives in the US and Venezue...

Venezuelan ex-leader's burial in limbo due to feud
CARACAS, Venezuela - A bitter dispute between relatives of former Venezuelan President Carlos Andres Perez has derailed a plan to send his body from Miami to Venezuela, leaving the former leader's burial in limbo. Perez's family in Caracas said in a statement Monday that the plan to fly the body to the capital was canceled because Perez's longtime companion and daughters in the United States said through their lawyers that they had never agreed to transferring his remains to Venezuela. Tha...

Last Chance for Venezuelas Revolution?
The pulse of the revolution grows faint. Extreme measures are needed, since the extremely poor living conditions of most Venezuelans demand it. They are tired of the government taking half actions. Tired of the same super-rich oligarchy dominating The Economy, which creates the horrendous inequality that overshadows Venezuelan society. If the revolution is not quickly pushed to the left, it will be strangled by the right. For all the positive things Chavez has accomplished as President, he is in...

US Revokes Visa of Venezuelan Ambassador
BBC reports: Washington has revoked the visa of the Venezuelan ambassador to the US, the US State Department has said. The move comes amid a diplomatic dispute between the two countries over President Barack Obama’s choice of ambassador to Caracas, Larry Palmer. Venezuelan President Hugo Chavez had been angered by comments Mr Palmer made about the country this year, and withdrew his approval of Mr Palmer. The US move in effect expels Venezuelan Envoy Bernardo Alvarez Herrera. It is not ...

Clinton Chats With Chavez at Brazil Inauguration
Despite a simmering diplomatic row, President Hugo Chavez and US Secretary of State Hillary Clinton were seen having a brief, friendly chat at the inauguration of Brazil's President Dilma Rousseff. The encounter Saturday came only three days after the United States revoked the visa of Venezuela's ambassador in Washington, in reprisal for Chavez's rejection of the US president's appointed ambassador to Caracas. You must login to comment. The Fox Nation is for those opposed to intolerance, excessi...

Russian 2010 oil output hits post-Soviet record
By Vladimir Soldatkin Moscow | Sun Jan 2, 2011 6:54am EST Moscow (Reuters) - Russian oil output rose by 2.2 percent in 2010 to a record 10.1 million barrels per day (505.193 million tonnes) as higher prices prompted the world's top oil exporter to ramp up production at its greenfield sites. The growth in crude production surprised many analysts, who had expected 1.1 percent on average, when polled just before the start of 2010. Energy Ministry data on Sunday showed the country extracted 10.14...

Oil price threat to recovery
High Oil Prices threaten to derail the fragile Economic Recovery among developed nations this year, the leading energy Watchdog has warned, putting pressure on the OPEC oil cartel to increase production. Over the past year the oil import costs for the 34 mostly rich countries that make up the Organisation for Economic Co-operation and Development have soared by $200bn to $790bn at the end of 2010, according to an analysis by the International Energy Agency. EDITOR’S CHOICE US eases barriers ...

Oil: its not 2008
Are the Investment Banks talking their book on Oil Prices? Some signs point to yes. CNBC reports that supplies are up and inventories higher than in 2008: consumer nations have since built up crude inventories, with stockpiles from members of the Organization for Economic Co-operation and Development now at 60 days worth of demand, compared with 53 days in 2008… Members of the Organization of the Petroleum Exporting Countries currently hold 5 million to 6 million bpd of spare oil product...

Contrary To The IMF's Lies, The IEA Finds That Surging Oil Price Actually Will Be A "Threat To The Recovery"
, we now get an FT article with the following title: "Oil price ‘threat to recovery’" based on a quote from the IEA." H.M.M.M.M. we wonder whose opinion is more accurate: an organization run by idiots (who subsequently matriculate into modestly coherent people whose only job is to bash their former employer), whose only purpose is to destroy economies under mountains of Debt (or is that the World Bank?) and to bail out insolvent PIIGS... or the International Energy Agency? We'll have...

Oil price 'threat to recovery'...
High Oil Prices threaten to derail the fragile Economic Recovery among developed nations this year, the leading energy Watchdog has warned, putting pressure on the OPEC oil cartel to increase production. Over the past year the oil import costs for the 34 mostly rich countries that make up the Organisation for Economic Co-operation and Development have soared by $200bn to $790bn at the end of 2010, according to an analysis by the International Energy Agency. You have viewed your allowance of fre...

Chavez and the Drug Smugglers
Posted by Matt Gurney on Jan 4th, 2011 and filed under Email, FrontPage. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed. Despite the season, there hasn’t been a lot of occasion for good cheer in Venezuela recently. President Hugo Chavez has side-stepped recent Congressional gains by the opposition by asking for, and receiving, emergency powers to rule by decree for 12 months. He claims he needs ...

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The Reserve Bank of India has opened up a major new front in the global effort to tighten the economic screws on Tehran. Under pressure from the United States, the Indian Central Bank last week blocked domestic buyers of Iranian Oil from making payments through the Asian Clearing Union. But further measures, and time for them to work, will still be needed to convince Iran to abandon its Nuclear Weapons program. While Oil sales to India can still clear through commercial banks, they will be more ...

Hugo Chavez's bipolar currency logic
Economy Venezuelan President Hugo Chávez announced late on January 8 the implementation of a new Exchange Rate that includes two official prices for The Dollar. The first Exchange Rate will be VEB 2.60 per dollar (previously at VEB 2.15), and the so-called "oil dollar" at VEB 4.30. The ruler also reported that the Central Bank of Venezuela (BCV), jointly with the Executive Office would step in the foreign exchange market to prevent speculative foreign exchange operations. The two official...

Venezuelan ex-leader's burial in limbo due to feud
Caracas, Venezuela — Relatives of former Venezuelan President Carlos Andres Perez have been unable to agree on sending his body from Miami to Venezuela, leaving the former leader’s burial in limbo. Carolina Perez is one of the late leader’s daughters. She told the Venezuelan television channel Globovision on Monday night that a plan to fly the body to Caracas was suspended after Perez’s longtime companion and daughters in the United States said that they had never agreed...

Is Chavez Going Down the Tubes: Last Chance for Venezuela's Revolution?
BuzzFlash and Truthout offer an ongoing special focus on South and Central America and provide a variety of progressive viewpoints on the economic, sociological and political changes in the area.  This is one of them. The pulse of the revolution grows faint. Extreme measures are needed, since the extremely poor living conditions of most Venezuelans demand it. They are tired of the government taking half actions. Tired of the same super-rich oligarchy dominating The Economy, which creates th...

Is there an Iranian missile base in Cuba?
Naval Academy graduate and Cold War carrier pilot, Chet Nagle flew in the Cuban Missile Crisis. After a stint as a Navy research officer, he joined International Security Affairs as a Pentagon civilian -- then came defense and intelligence work, life abroad for 12 years as an agent for the CIA, and extensive time in Iran, Oman, and many other countries. Along the way, he graduated from the Georgetown University Law School and was the founding publisher of a geo-political magazine, The Journal of...

Crude oil slides slighty off two-year peak
February delivery light, sweet crude peaked at $92.43 per barrel early but lost ground, settling at $91.63 late in the day. Heating Oil Prices Monday added 1.68 cents to $2.5592 per gallon. Reformulated blendstock Gasoline held even at $4.4303 per gallon. Henry Hub Natural Gas prices added 2.21 cents to $4.626 per million British thermal units. At the pump, the national average price of unleaded Gasoline fell to $3.072 per gallon from Sunday's $3.073, AAA said. NEW YORK, Jan. 3 (UPI) -- Mila Ku...

Oil and Gasoline Prices: What the Hell?
The question that begs to be asked, what's driving Oil Prices up, and how high will they go in 2011? The answer, we were somewhat cushioned in 2010, it's demand, and it will likely hover around $100/bbl for most of the next year. That would mean the average price at the pump will settle in around $3.00-$3.20 a USG. Not the $5.00/gal hardship we saw a couple years ago, but not good either. The market price of Crude Oil, it's 55-57% of the cost of Gasoline. That percentage has risen in the past s...

Crude oil prices slide Tuesday
February delivery light, sweet crude gave up $2.81 overnight to $89.77, a 3 percent drop after hitting a two-year peak of $92.58 Monday. Heating Oil Prices lost 4.44 cents to $2.5084 per gallon. Reformulated blendstock Gasoline shed 3.48 cents to $2.3925 per gallon. Henry Hub Natural Gas lost 8.1 cents to $4.569 per million British thermal units. At the pump, the national average price of unleaded Gasoline rose to $3.073 per gallon Tuesday, down from Monday's $3.072, AAA said. BEEBE, Ark., Jan....

Oil Prices Gush to Two-Year High
Oil Prices touched a two-year high Monday on tighter inventory and expectations that U.S. Economic Growth will boost demand this year. Oil for February delivery touched $92.58 a barrel, up $1.20 from last week's close, before closing at $91.65. Only about a month ago, oil had been trading around $81 a barrel. Analysts expect the prices to continue to grow, with some predicting that oil could hit $100 a barrel early this year. U.S. commercial crude inventories totaled 339.4 million barrels for ...