Caracas Chronicles

An interesting post about Venezuelan gasoline consumption from UC Berkeley Professor of Economics Lucas Davis. He says that Venezuelans don’t own more cars per capita than comparable countries in the region, so the large consumption must be because they own old gas guzzlers.

I think he should also mention the fact that car ownership may be in line with the continent, but car *usage* is a lot higher because it’s so damn cheap to use it.

The money graph: