Chavez: Let Venezuelan Oil Importation Begin!

NLT doesn't like the headline of this CNN story: Venezuela pulls control from Big Oil. Right they are. Where's that vaunted journalistic neutrality?

But the worse news is the story itself. No experts believe Venezuela has the capacity to refine its own oil --not at the current pace-- and Chavez is financing his government with oil revenues, which is why he needs to do this in the first place. No reinvestment, just the usual short-sighted Socialist money-grab. And Venezuela was already announcing Citgo cutbacks because of its inability to deliver enough oil internally last July.