On Venezuela

Venezuela: The true cost of cheap gas | csmonitor.com

The Christian Science Monitor has a short item on the cost of gasoline in Venezuela:

Gasoline doesn’t flow from fountains in Venezuela, but it might as well. At 4 cents a gallon, the country has the cheapest gas in the world: Bottled water is 67 times more expensive.

But cheap gas comes at a cost, mainly for the government. The Chávez government is believed to be subsidizing consumption to the tune of $8 billion a year.

Chavez may be left wing, but he obviously hasn't yet caught on with the idea that carbon should have a price..

A few weeks ago, there was a whole half hour about the country on Foreign Correspondent. I didn't see all, but it was very interesting. It certainly showed it as a dirt poor country.