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Centro de Divulgación del Conocimiento Económico para la Libertad
"...La única forma de cambiar el curso de la sociedad
será cambiando las ideas" - Friedrich Hayek
"Una sociedad que priorice la igualdad por sobre la libertad no obtendrá ninguna de las dos cosas. Una sociedad que priorice la libertad por sobre la igualdad obtendrá un alto grado de ambas" - Milton Friedman
PDVSA importing 100,000 Barrels per day of Gasoline


***PDVSA is losing $5 million per day importing gasoline for the domestic market.

Saudi Arabia importing sand? Ecuador importing bananas? Idaho importing potatoes? Sounds ridiculous. But this Kafkian situation has become true in Venezuela, an oil country, now importing 100,000 barrels per day of gasoline at some $60 a barrel to feed its domestic market, where it sells it at ome $12 a barrel.

A report from EnergyNewsToday, April 1, 2009, reveals the extent of the disaster at Petroleos de Venezuela, where refineries are out of operation totally or partially. In March of this year PDVSA was forced to import almost three million barrels of gasoline and blending products, this is, one hundred thousand barrels per day. The company will be forced to import the same amount for the next two months. This represents a loss of about $50 per barrel of gasoline being sold in the domestic market or about $5 million per day. Meanwhile, managers of PDVSA are in different countries looking to borrow money to keep paying its bills and the Orinoco heavy oil bidding process has been halted.
All in all PDVSA is in the middle of a major collapse. Ramirez, the Minister, president of the company and main cheer leader of Hugo Chavez, only cares about politics and to obey the increasingly chaotic orders of his boss.

My question is: how much longer are we going to suffer this crime against the nation?

The whole country is floundering under the erratic and inept leadership of the despot
Publicado por Gustavo Coronel, Las Armas de Coronel, Lunes 6 de abril de 2009