On Wed, 06 Mar 2013 22:43:58 -0500, Ed Pawlowski wrote:

On Wed, 06 Mar 2013 15:12:09 -0800, Oren wrote:



Gas was/is 32 cent a gallon? Yes. A legacy of his prisons?


http://money.cnn.com/2013/03/06/news...venezuela-gas/

Thanks to generous subsidies, the Venezuelan people pay an absurdly
low price for gas. The average price for a gallon of regular at the
end of January was four U.S. cents, according to the research firm
Airinc.

Really? How many hours do they work for a gallon of gas?

That's right: One. Two. Three. Four.

On an income of?

Pennies.

There's a common belief in Venezuela -- and in other oil-exporting
nations -- that oil is a national resource that citizens have every
right to use cheaply.

"Common belief" = "if the government thinks you need an opinion, one
will be provided"


The International Energy Agency, which represents oil-importing
countries, unsurprisingly takes the other side of the argument. It
says these subsidies encourage "wasteful consumption," which in turn
contributes to higher oil prices worldwide.

http://www.eluniversal.com/economia/...on-devaluation
Upon the latest devaluation of the Venezuelan currency from VEB 4.30
to VEB 6.30 per US dollar, the value of a liter of gasoline of 95
octanes slipped from USD 0.022 to USD 0.015, based on the official
foreign exchange rate.