Low oil prices won't halt revolution: Chavez

CARACAS: President Hugo Chavez said that he plans to strengthen his socialist revolution in spite of falling oil prices.

He assured participants in a program that provides stipends to poor mothers that social spending will not be restricted next year.

"Oil could fall to zero dollars, and I guarantee you this revolution will not be detained," he said. "Totally the opposite."

Chavez acknowledged that oil prices are very low, but said critics hoping this signals his downfall will be disappointed: "The end of Chavez?" he asked mockingly. "I am a man of difficult times."

He said Venezuela has enough international reserves and other savings to withstand the world financial crisis.

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January 18, 2009 at 10:22 PM

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