by MrBill » Fri 09 Feb 2007, 07:57:33
Tanada wrote:
$this->bbcode_second_pass_quote('', 'Y')up she said it, I heard it during the news round-up that day on the Radio news as I was driving home from work. I didn;t quite rear end the SUV in front of my civic but I was a wee bit surprised at the naivete' she expressed.
_________________
Oxygen: - An intensely habit-forming accumulative toxic substance. As little as one breath is known to produce a life-long addiction to the gas, which addiction invariably ends in death.
--Isaac Asimov
Thanks. I just love that philosophy! "You make a profit and we'll help ourselves to it." Sounds like Ayn Rand in 'Atlas Shrugged'? What will be next? Windfall profits on solar energy firms capitalizing on free sunlight at the expense of taxpayers? Maybe the water companies?
Here are a couple articles about state-sponsored capitalism in Venezuela, and how efficiently Iran manages its oil industry. I am all for turning over the running of the economy to politicians. I mean what is not to like?
$this->bbcode_second_pass_quote('', 'V')enezuela's national oil company is buckling under the burden of financing President Hugo Chavez's more than $9 billion a year in social and political ventures.
Production at Petroleos de Venezuela is declining, and any major drop in oil prices or failure to reverse declining investment and production could lead to bankruptcy of the goose that lays the golden egg for Venezuela, Moody's Investors Service warned yesterday.
Cambridge Energy Research Associates also questions whether the once well-run oil company is being overstretched by $20 billion in joint energy ventures Mr. Chavez has started with other Latin American countries, which are a further drain on scarce funding and personnel from the projects the company needs to survive and maintain its obligations.
Mr. Chavez boosted social spending out of oil revenues by 50 percent last year when he was running for a second term in office, sending inflation surging by 18.4 percent.
The inflationary spiral was further fed by a 21 percent plunge in the value of the Venezuelan bolivar last month -- the result of citizens and investors pulling money out of the country after Mr. Chavez announced he would nationalize "strategic" industries not already under state control and assert majority control over pioneering projects by major Western oil companies in Venezuela's oil-rich Orinoco River basin.
And gasoline rationing in Iran.
$this->bbcode_second_pass_quote('', ' ')IRANIANS are among the world's biggest consumers of gasoline because the product is kept at an artificially low price through government subsidies. The Iranian cabinet decided in mid-January that it would try to reduce consumption by introducing gasoline rationing, and reports from the provinces reveal that rationing is already taking place. The measure will not be popular among the Iranian public. Concern about the potential effect of sanctions--relating to United Nations Security Council Resolution 1737, which was issued in late December due to concern over Iran's suspicious nuclear activities--may be behind the push for austerity measures.
According to the U.S. Energy Information Administration, 10 percent of the world's total proven oil reserves are in the Islamic Republic of Iran. In 2005, Iran produced approximately 5 percent of global crude production. Yet despite its status as a producing country, Iran has been importing gasoline and other refined products since 1982. Indeed, only the United States surpasses Iran in gasoline imports by volume.
Iranian consumers use so much gasoline--Tehran projects 75 million liters this year--because prices are kept at an artificially low level. Gasoline there costs approximately $0.40/gallon ($0.09/liter), but Minister of Economy and Finance Davud Danesh-Jafari said last summer that the real cost is roughly six times that amount--$0.57/liter.