The Consequences Of Chavez

by Pejman Yousefzadeh on May 10, 2009

Those who believe that Hugo Chavez’s nationalization craze does not–and will not–impose ill effects on Venezuela have another think coming:

Venezuelan unions estimated Saturday that nearly 22,000 oil contractors stand to lose their jobs after President Hugo Chavez’s government seized the assets of 60 local and foreign-owned oil firms.

“This law does not benefit us,” Bernardino Chirinos, leader of the Union of Oil Workers in the western state of Zulia, told El Nacional newspaper.

“There are 35,000 workers on the east coast (of Zulia state) and only 8,000 will be absorbed. There are 22,000 workers without guarantees.”

Behold the legacy of the man of the people, the man of the proletariat. Not that this scorn should be reserved for Chavez alone; those who wave the red banner always seem to end up undermining the very people on whose behalf they claim to wave it.

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