Devil's Excrement: Venezuela's Uneducated Socialists - Page 3 - Politics | PoFo

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As either the transitional stage to communism or legitimate socio-economic ends in its own right.
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How about you post a link tot he share that foreign oil companies took and let us judge if ti is high or not that is unless you are again spewing pure bs

I suppose I can find a link to show the share of the gross and net taken by foreign companies prior to the change to the JV structure, but I'm not sure. You see, I am very familiar with the figures because I have been working in the Venezuelan oil industry for many years, and I saw the numbers.

On the other hand, I challenge you to stop spewing pure bs, such as the comment about Venezuela being one of the poorest nations in Latin America, and show us your beef. The ball is on your side of the net. :)
ped2000 wrote:Oh I see. That means Great Britan is a failure because China's growth is outpacing it. Down with David Cameron!

No, it doesn't mean that.
It means that only after Chávez, Venezuela (the 11th biggest oil exporter in the world) was surpassed by a poor country called Colombia, that is fighting a bloody civil war for the last 50 years.
Stephen Harper is the prime minister of Canada which has the worlds second largest oil reserves (and 6th largest producer). They are the worlds largest exporter of zinc and uranium, and a leading exporter of gold, nickel, aluminium, and lead. They have a 10 year annual growth rate of 1.1%. They are are being outpaced by poor, 3rd world China 9:1 and outpaced by Chavez 4:1. That is one of the biggest examples of total and utter failure.

Am I on track here? I mean since you're basing one governments success on the pace of anothers growth, that is the only logical interpretation, no?
Index Mundi says Canada's Growth Rate (PPP per capita, which allows for purchasing power and population changes) from 1999 through 2010 was 53 % when compounded.

The same data base says Venezuela's equivalent rate was 37 %.

In other words, the average yearly growth was 4.4 % per year for Canada, and 3.1 % for Venezuela.

Oil prices have more than quadrupled in this period, contributes more to Venezuela's economy (because Venezuela barely does anything useful other than sell oil and minerals). Therefore one would have expected Venezuela to benefit more than Canada, which has a fairly large industrial and services industry.

As previously stated in this thread, Colombia grew more than Venezuela. It's cumulative growth was 77 % or 6.4 % per year. Colombia's economy is less dependent on oil than Venezuela's, but it did benefit because oil production increased. Other sectors increased as well.

Venezuela's inflation rate is the highest in the world, as fas as I know, and has been the highest over the period being considered, excepting Zimbabwe. Conclusion, Venezuela's economy is one of the worst managed in the Solar System.
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