Cheap oil for rich Uruguay – that’s Hugo Chavez’s masterplan for winning influence in the region. What’s news to him is that it won’t buy him any influence. Down in that part of the world, people who are bought don’t necessarily stay bought. Just ask the IMF and emerging market investors about Argentina! Not that Uruguayans enjoy that comparison to their neighbor, but I think it’s highly questionable that Uruguay will become a Venezuelan satellite over this. They are able to buy oil at market rates. Hugo Chavez is just not making them have to. Uruguayan per capita income is $12,000. Venezuelan per capita income is $4,000. Miguel Octavio calls it ‘the poor subsidizing the rich.’ He’s got more choice words about this ‘deal’ right here.