President Hugo Chavez compared the US financial crisis to “100 hurricanes,” which may send oil prices to as low as USD 80 a barrel and slow economic growth in Latin America. Oil prices should stabilize between USD 80 and USD 95 a barrel, Chavez said in comments broadcast by state television. “I’m in the group that believes this will be worse than the 1929 crash. No country can say it won’t be affected,” Chavez told reporters after arriving in Brazil for a meeting with President Luiz Inacio Lula da Silva. He said Latin American economies from Argentina to Ecuador have been disconnecting themselves from the US economy, which he referred to as the “coach of death.” (Bloomberg)

    About the author

    Join the Discussion