OPEC, fracking, and Rafael Ramírez
You know what’s hugely important and we don’t know much about? OPEC. This article from today’s Wall Street Journal talks about the fracking revolution, and how it creates...
Economy
Even the "food sovereignty" is imported...
Food Minister Félix Osorio (brother of his predecessor, Carlos) has indicated that at least 26,000 tons of food (just under 1 Kg. per person) have been arriving to...
One man's "acuerdo" is another man's "privatización"
PDVSA has been very active as of late. On May 15th, it signed an agreement (“un acuerdo”) with China’s CNPC, to increase its production in the Carabobo area...
Parking in Caracas is getting harder
Almost a year ago, I wrote a post about the ordeal that drivers in Caracas and other Venezuelan cities face every day just to find an available parking...
Bandes's not-so-great overseas adventures
Back in 2006, the Venezuelan state’s development bank BANDES decided to expand its operations overseas by starting a commercial branch in Uruguay. Five years later, Bandes Uruguay announced...
Scarcity was much cooler under Chávez
During the last presidential campaign, I took to highlighting the differences between a Chavez-led race and a Chávez –less one. For the sake of consistency, indulge me while...
The victim of my rant of the day: the Associated Press
Clever use of puns aside (“Venezuela hopes to wipe out toilet paper shortage by importing 50m rolls,” chuckle chuckle), I have a small beef to raise about this...
Micro-managing the downfall
Economists sometimes use the term “bounded rationality” to explain the impossibility managers have in understanding reality in all its complexity. Basically, bounded rationality says that managers and economic...
Gas prices and car ownership
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...
Lorenzo Mendoza, prophet of privatization
Lorenzo Mendoza, CEO of Venezuela’s largest private company (Polar), gave a searing press conference yesterday. In it, Mendoza thoroughly debunked the myth that people can’t find corn flour...
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