For 16 days, they blockaded the halls of congress. For 16 days, they chanted in the streets. Until finally, victory was theirs… the bill was struck down, the enemy bested.

Venezuelan President Hugo Chavez said a few months ago that if the United States invades Iran, we could expect to see oil at $200 a barrel. With oil already approaching the $120 mark, we may get there even without invading Iran.

Concerns about the U.S. economic slowdown are starting to blunt some of the optimism surrounding Latin American economies.

Pemex better start exploring for more oil in the Gulf of Mexico or its going to pump out all its reserves in less than ten years. Mexican President Felipe Calderon went on national television last night in Mexico and told his countrymen (in Spanish, we presume), “We have to act now because we’re running out of time and out of oil.”

On the one hand, you have authoritarian rule and government-controlled natural resources. On the other, you have a liberalization of state control and a booming economy. Hmm. That’s a tough decision.