21–30 of 168 posts
Ironically, Venezuela has so much oil that gas is almost free. Most people dont even know the cost, they fill a car's tank with about 0.10 us$. Probably, people will start using the portable power generators that everybody already have, because this is not the first time the power goes out, and it will become a gas-powered country for a week.
[1] http://www.laht.com/article.asp?ArticleId=334115&CategoryId=...
[2] http://www.wsj.com/articles/SB100014241278873240007045783867...
[3] http://www.theguardian.com/world/2016/feb/18/venezuela-presi...
Ironically, Venezuela has so much oil that gas is almost free. Most people dont even know the cost, they fill a car's tank with about 0.10 us$. Probably, people will start using the portable power generators that everybody already have, because this is not the first time the power goes out, and it will become a gas-powered country for a week.
The "almost free" gas was from fixing the price of oil, which caused massive shortages within the country.[1][2] The new government overturned Venezuela's policy on this and raised oil prices by 6000%.[3] [1] http://www.laht.com/article.asp?ArticleId=334115&CategoryId=... [2] http://www.wsj.com/articles/SB100014241278873240007045783867... [3] http://www.theguardian.com/world/2016/feb/18/venezuela-presi...
Thats a really sad situation, but is common in some LATAM countries. In example, in Argentina there's an active "energetic crisis" plan [1], where government defined an scheduled program to cut electricity in cities to try to mitigate demand. [1] http://www.buenosairesherald.com/article/149949/power-cuts-i...
At least with Argentina there's reason to be optimistic. From what I've read, the newly-elected Macri administration seems to be taking concrete steps toward reversing Fernandez's economic mismanagement.
I have reason to be pessimistic about Macri's policies.
I remember back when parts of California would shut down for an afternoon to deal with an electricity crisis: https://en.wikipedia.org/wiki/California_electricity_crisis Strange times.
Earlier quoted context omitted.
Except that it was Hugo Chavez that gave the speeches lasting hours.
I read Atlas Shrugged cover to cover (and suffered). How did they deal with that speech in the movie that came out for it? I sure hope they cut it short ...
Thats a really sad situation, but is common in some LATAM countries. In example, in Argentina there's an active "energetic crisis" plan [1], where government defined an scheduled program to cut electricity in cities to try to mitigate demand. [1] http://www.buenosairesherald.com/article/149949/power-cuts-i...
Could this be helped by first world countries donating solar and wind generation equipment, and peace corps training programs to train and supervise the installation in country? EDIT: thanks for the replies everyone. sadness.
Earlier quoted context omitted.
Could this be helped by first world countries donating solar and wind generation equipment, and peace corps training programs to train and supervise the installation in country? EDIT: thanks for the replies everyone. sadness.
No. Argentina, Brazil and other latam countries really do not need donations. Venezuela is a very rich country that actually have the second largest oil reserves, ironically. It would be like donating stuff to Saudi Arabia. Our problem is rampant corruption, populism and mismanagement derived from it. Brazil is trying to get out. Argentina is out of it, lets hope is not too late. For Venezuela is already too late.
The causes for the problems in Latin America are complex, there is no single root cause that can be easily explained in an Internet forum, and keep in mind many of these countries -- well, I can at least speak for Argentina -- were historically owned and managed by decidedly non populist landowners which influenced the following generations of leaders (and some of these families still own portions of the country). So if populism was a reaction to conservatism and prior authoritarian governments, it cannot (alone) be the root cause of our problems.
Sure, corruption is a problem as well, but I think that alone it doesn't explain our problems either.
I think corruption and populism are more symptoms than causes.
Earlier quoted context omitted.
Could this be helped by first world countries donating solar and wind generation equipment, and peace corps training programs to train and supervise the installation in country? EDIT: thanks for the replies everyone. sadness.
No. Argentina, Brazil and other latam countries really do not need donations. Venezuela is a very rich country that actually have the second largest oil reserves, ironically. It would be like donating stuff to Saudi Arabia. Our problem is rampant corruption, populism and mismanagement derived from it. Brazil is trying to get out. Argentina is out of it, lets hope is not too late. For Venezuela is already too late.
In just three years, their inflation (the bolivar has lost 97% of its value) and economic contraction has taken their GDP per capita from ~$14,000 to ~$4,000. They've lost at least 70% of their economy, and it's not over yet.
Saudi Arabia's economic output is nearly five times greater per capita. Their median income and median household net wealth are both vastly higher than Venezuela. Saudi Arabia still has substantial capital reserves, while Venezuela has almost none.
Venezuela now has a $20 monthly minimum wage. [1] Most of the nation is struggling to afford food.
Saudi and Venezuela couldn't be any more different outside of being petro states.
[1] http://www.bloomberg.com/news/articles/2015-03-06/monthly-sa...