Optimizing What?
The previous post got a pretty good debate going about oil policy. One point, though, kept coming up in different ways from different commenters: seeing “optimizing the tax...
You can't put optimal oil policy on a bumper sticker
…well, not a sensible bumper sticker, anyway. Oil policy in a context like Venezuela’s is irreducibly complex. You could say you want to maximize the cash flow to...
Caudillista? Moi?!
This has to be the most chigüiresque headline I’ve seen on a legitimate news story all year. Honestly.
XIIIth Century Socialism
So far we haven’t commented much on chavismo’s batty new Law on Fair Costs and Prices – mostly because it’s too depressing. Criticizing the economics behind it in...
Another Look at the National Railroad System
Over in Spanish, Raúl Aular shows how camera angles can make a world of difference.
Mr. Big Oil
What would oil policy look like in a Leopoldo López presidency? 1. Lots of investment in production, geared toward making Venezuela the world’s top producer 2. Lots of...
Borrowing at Credit Card Rates
Let’s be clear: for a country to issue a sovereign bond with an 11.95% coupon is really just a polite way of saying it’s broke. Moderately responsible individuals...
Annals of Goal Post Locomotion
In 2008, PDVSA said they planned to produce 5.8 million barrels per day by 2012. In 2009, it was 4.9 million b/d by 2013. In 2010, they pledged...
Tinderbox meets match
There’s a lot to digest in today’s appointment of La Comandante Fosforito (in English, Commander Firecracker) as Minister for the Penitentiary System. It’s no secret that Venezuela’s prison...
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