The Red Apertura and the forgotten art of disarming atomic bombs
Here’s a factoid you’d do well to squirrel away: through a crazy quirk of geology, there’s more recoverable oil under Southern Guárico, Anzoátegui and Monagas States than anywhere...
Economy
Minister of the People's Power for Trash Talking About Housing
Today, housing minister Ricardo Molina called together a bunch of media for a ceremony in Táchira to deliver 48 new homes. Forty eight! Except, as Julio Borges keeps...
¡Que Ovarbaridad!
What do you call a firm that had existed for less than three months when it landed a $252 million contract to sell a PDVSA-subsidiary (Bariven) equipment that...
Bs.564 million, down the toilet
On Saturday, Chávez announced another Bs.564 million rescue to try to plug the neverending financial shortfalls facing the Nationalized Guayana industries. There’s enough candy for everyone in that piñata: Alcasa...
Electric Kool Aid Acid Guiso
You remember Chávez’s Electrical Emergency Decree, right? Signed during the blackout-prone days of early 2010, it allowed state agencies to circumvent normal public sector procurement processes to obtain...
主權? Try 賣淫
From an AVN story about a meeting Hugo Chávez held yesterday with the Chinese: “Chávez … explained that Chinese banks give out loans to Venezuela and, in exchange,...
Please, Take my Oil Company
The Venezuelan government is now facing over $40 billion in arbitration claims relating to 19 cases at ICSID, the World Bank’s arbitration panel. (A few of those claims...
Why Fonden accounting is never going to add up...
Deep in his comment section, the Satanic Bowel Movement turns up the smoking gun in the case for thinking Fonden’s books will never ever make sense to an...
Good News, Everyone!
Venezuela hosts one of the world’s largest gold mines, and we know it’s going to be developed now because the concession is in the capable hands of: Dot...
Where does Fonden money go?
So now that we have those Fonden disclosure documents, it’s time to jump into the minutiae. Of course, we only have detailed 5-year disclosures for $40 billion out...
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