How short people’s memories are – especially when there’s so much to remember. With the intense political drama unfurling in Venezuela at the moment, the (incredibly dramatic) explosion of the Amuay refinery six months ago seems to have been largely forgotten.
Not by everyone though. On Monday, for example, one outraged newspaper attempted to jolt Venezuelans out of their fixation on the present to remind them how disastrous the whole Amuay affair has been, with the oil-rich country’s gasoline imports from the US apparently having quadrupled since the tragic accident. Continue reading »
It’s not hard to see why Vladimir Putin saw fit to take precious time out today in the aftermath of Russia’s controversial parliamentary elections last Sunday to meet with Venezuela’s vice-president, Elias Jaua.
Much to the discomfort of Washington, the two countries are developing an ever cosier bilateral relationship and Russia’s state-run oil giant Rosneft announced a $2.6bn deal today to develop Venezuela’s extra-heavy crude oil reserves in the Orinoco. Continue reading »
Albert Einstein once defined insanity as doing the same thing over and over again expecting different results.
Whether or not that is the case, the Venezuelan government’s dogged persistence with its policy of price controls certainly seems to demonstrate admirable faith that they might one day succeed, after a new law came into force today applying the controls to an even broader range of products. Continue reading »