Chavez's Venezuala has earned record petro income due to increased petro prices. Sadly, due to socialist "reforms", this inflow of cash will result in far fewer income gains for fewer residents than would a free market system. One poor consequence is that his nation's oil reserves will not benefit as much from increased exploration and development as would occur under a free market. Witness the difference in Russian petro development -- and consquential Russian government petro income, and income distribution to Russian people -- under socialism, versus now within a free market. In the US, meanwhile, a diversified economy premised on free markets means that whichever way the oil market goes, the overall economy benefits. In the case of higher petro prices, US petro companies see their fixed profit margins yeild increased income, which will result in upgrading to better exploration and production equipment, and further exploration. When this inevitably leads to lower petro prices, other portions of the US economy will see their own profit margins yeild higher incomes. No wonder so many poor people in Venequala immigrate to the US... and never migrate back!