Running On Empty

by Patrick Appel
The Hudson Institute's Jaime Daremblum explores the impact of plunging oil prices on Venezuela and concludes that Hugo Chavez is weakened but still dangerous:

The bad news for Venezuelans is that their president wasted an unprecedented opportunity during the oil boom and their economy is now in shambles. The good news for U.S. policymakers and democratic officials in Latin America is that Chávez will now have less ability to foment political strife abroad and undermine regional democracies. His stature has been diminished, and his popularity at home has fallen. As CIA Director Michael Hayden said last week, the massive decline in oil prices could mean “real trouble” for Chávez.