January 15, 2009 11:36AM

Someone Is Feeling the Pinch

By Juan Carlos Hidalgo

New York Times: “Chávez Lets West Make Oil Bids as Prices Plunge”

No wonder. According to a study by the Deutsche BanK, Venezuela needs the barrel of oil to stay above $97 in order to pay for government expenditures. It is currently traded at below $40 per barrel.

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