Quico says: Gah! I really don’t have time to blog about it properly right now. But Chavez’s move to seize the oil sector’s private contractors is a catastrophe of almost unimaginable proportions. The contractors have been undergoing death-by-a-thousand-cuts for some time now, but the consequences of this final kamikaze move are hard to overstate.

Some kind of economic incompetence rubicon is being crossed here. Watch and shudder.