While Hugo Chavez spends wildly on a military build up and cracks down on free speech and the free press in Venezuela (here), he has ordered the rationing of electricity in the oil-rich country. Chavez blames not his policies but waste of businesses for the crisis.
Venezuela relies primarily on hydro-electric power for its domestic energy. Starting this week, electricity in malls, businesses and billboards will be rationed and authorities are speaking of hiking rates. There have been nationwide blackouts due to the shortage of energy. The economy in Venezuela has been shrinking and the country faces growing unemployment in the global recession, here.
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21 thoughts on “Chavez Orders Rationing of Electricity”
“Some would argue a false prosperity. The same ‘public’ utility that charges me for my electrical usage and taxes me for its upkeep sells electricity to those empty business’ at a small fraction of the cost I pay and that same utility now wants a taxpayer guaranteed bond sale to expand its capacity to deliver all that cheap energy for wasteful use. There is no free lunch or at least there shouldn’t be.”
how are utility companies run? You make my case again. Competition causes better, cheaper goods and services.
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