Chávez oil fails to stem Nicaragua crisis
I was thinking before this article was posted, do countries that subsidize oil actually hurt rather than help with the global oil situation?
Pump prices have soared to more than $5.20 a gallon – the highest in Central America – despite the Venezuelan leader's promise to solve the country's 'oil problem.'
You are correct it is a long topic. Obviously many countries cannot afford current world market value for oil but I was thinking about countries (much like this one) that do subsidize fuel costs and the resultant lack of conscientious conservation (Most vehicles on the road in this country are anything but fuel efficient). I am sure that in most of these countries that it is only the well off that can afford to drive anyway, so maybe fuel subsidies should only be for mass transit and based on one's "address" for in-home subsidies. Again, most of these countries the wealthy congregate together.
Petro-Caribe is the association that chavez create in order to GIVE petrol to all the centro america and the caribbean nations which are in economical problems and pay it in 20 years with something like 5% of interest, or pay back with teachers and doctors as cuba does...
Its a strategy to gain alleys...
The Venezuelan Sensation!!!