Wednesday, August 16, 2006

U.S.-Venezuelan trade

The NYT has an interesting look at U.S.-Venezuelan trade. Despite the anti-capitalist, anti-U.S. rhetoric, trade (even non-oil) has increased.

I found the following most remarkable:

With 10 offices and 1,000 employees in Venezuela, Halliburton recently won a contract to assist Petrozuata, a venture between Venezuela’s national oil company and ConocoPhillips, in extracting oil from fields in eastern Venezuela.

So the company that has become the symbol of the Bush administration is not only alive and well in Venezuela, but it is getting new contracts. Although oil companies have been hit in some ways (as has Microsoft), other multinationals like Mastercard, GM, and Ford are making good profits. It reminds me of the recent photos of Fidel Castro, lounging in an Adidas outfit.

Both the United States and capitalism generate fascinating love-hate relationships. Can’t live with ‘em, can’t live without ‘em.


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