By: KENNETH MAXWELL

Folha de São Paulo - Op-ed section - page A2   

Vladimir Putin and Hugo Chavez have at least one thing in common. They both have George W. Bush to thank for the high prices their petroleum sells for in international markets. Russia and Venezuela are the major beneficiaries of Bush's misadventures in the Middle East. Since Bush took office in 2001, the price of a barrel of oil has risen from $23.00 to close on $100.00. As a result Putin's Russia has accumulated $425 billion in gold and hard currencies, and Chavez in Venezuela has $35 billions extra to spend.

The big difference is that Bush has always regarded Chavez as an enemy, a charter member of one of his multiple Axis of evils - in this case the Latin American one. Lula was briefly a member of this particular axis.

That is before former Mexican foreign minister Jorge Casteneda made Lula as charter member of the "good" left, as opposed to the to "bad" left, composed of Chavez, Castro, Evo Morales and Mexican presidential candidate Lopez Obrador. On the other hand, President Bush described Mr. Putin as a straightforward and trustworthy man. "I looked the man in the eye. I was able to get a sense of his soul".

So it was ironic that last Sunday it was former best friend Vladimir who won an election by fraud, helped in no small part by the prosperity brought to Russia by petroleum windfalls; whereas it was perpetual enemy Hugo who lost his referendum in an honest democratic vote and in no small part because the benefits of high oil prices were not translating into improved living conditions for his supporters.

Putin used every trick in the text book of electoral manipulation to perpetrate his party, and no doubt himself, in power. Chavez lost because he was abandoned by a substantial segment of his former supporters who are fed up with rising inflation, continuing and escalating corruption, and chronic food shortages. And also, not least, because Venezuelans are becoming resentful of Chavez's ideologically driven hand outs to foreigners, especially the use of Venezuela's windfall oil profits to prop up decrepit regime's like Cuba's. Replacing of course, in the case of Cuba, the mega subsidies once provided by Russia.

Any lessons here for would be "president's for life"? Yes indeed. If you get windfalls use them first to take care of the folks at home.

KENNETH MAXWELL is a weekly op-ed columnist (every Thursday) for Folha de São Paulo, Brazil's leading newspaper.