Sunday, July 01, 2018

Ova over oil...

Un oeuf is enough as the old classic goes, but in Venezuela the cost of one egg is the same as 126 litres of petrol (3.33 lorry loads) ... no, you didn't misread that. Ludicrous. "La crisis venezolana es una férrea traducción del incoherente manejo que el régimen chavista y madurista le ha dado a la economía del país durante los últimos 20 años, que hoy se encuentra desquiciada y desequilibrada" [LINK]...more or less: 'The Venezuelan crisis is a fierce representation of the incoherent management that the Chavista and [now] Madurista regime has given to the country's economy during the last 20 years, which today is deranged and unbalanced.' Deranged, I'll say; believe it or not...according to Calisa in Venezuela al Diá, Venezuelan Economist José Toro Hardy has reported* that "A petrol truck takes 38,000 litres; 1L of 91 octane petrol costs 1 Bolivar per litre [yes, one Bolivar]; therefore the cost of the truck-load is Bs38,000. Meanwhile a tray of 30 eggs costs Bs3,800,000 (they tell me that it is already more expensive). That leads to the unusual conclusion that the equivalent of the cost of the tray of eggs you could pay for 100 trucks of gasoline." Making an egg the cost of more than three truck-loads of petrol. Unusual? he also calls it 'Awful'; in fact it's fucking obscene and ridiculous.

I was so wrong in early 2006; but also so right later that year: lot has flowed under the bridge since Orinoco oil overflowing..."The Orinoco river oil strip will become the world's greatest reservoir of petroleum for the next years". This may explain why Chavez seemed so cocky and triumphant as he strutted his stuff on his world tour in the last few weeks. In my opinion it only makes him more of a danger."

* Full article: Banca y Negocio

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