Oil drops, Hugo Chavez sweats: 15 Minutes on Latin America

The Mideast worries and talks about reducing output, but the one with the most reason to worry is Hugo Chavez. No one, and I mean not one single petty tyrant in all the oil-financed tyrannies in the world, is as dependent on oil revenues to maintain himself in power. Venezuela relies on oil income for more than 40 percent of its budget and Chavez squanders every day millions of dollars of oil revenues while oil production has fallen by a quarter since he won power.