Bloomberg Compares Palin with Hugo Chavez

According to this Bloomberg article by Joe Carroll and Sonja Franklin, Sarah Palin is "Succeeding where Venezuela President Hugo Chavez has failed"

Before this article came out I avoided comparing Palin and Chavez. The two leaders are both popular and use the multinational oil and gas firms as punching bags to whip up support among their followers.

Bloomberg correctly points out the Palin takes a tough stance with the North Slope producers, but the article is short on proof of success.

Bloomberg points out that Palin has increased taxes on oil and gas firms but does not mention the subsequent multi billion dollar reduction in capital expenditure.

The loss of investment in Alaska's oil patch equals lost jobs today and lost revenue in the future. That business model is alive and well in Chavez's Venezuela.

Palin was not elected for her own achievements but by running as the Anti-Big Oil, Anti Frank Murkowski candidate. She lacks the support of other Republicans from Alaska.

Without an Alaska Gas Pipeline she will leave office as a one-hit wonder and the comparisons to Hugo Chavez will be all too accurate.

Let's hope that Palin does succeed. Palin's current approach can go terribly wrong, impacting Alaskans and the lower 48 for decades to come.