Wednesday, April 29, 2015

The Latest From Price Control Venezuela: Widespread Blackouts

Local media is reporting blackouts across Venezuela, as price controls distort market signals in the electricity sector in the midst of a heat wave.,

Vice-President Jorge Arreaza said there had been a surge in energy demand due to extremely hot weather.  He  said private companies would be asked to use their own generators to reduce pressure on the national grid.

On a typical government lie, last week the government claimed that energy problems were due to maintenance issues, BBC Venezuela correspondent Daniel Pardo reports.

Inflation came in at more than 60% in 2014.


1 comment:

  1. People look at Venezuela and think "this will show the Left that their policies are a failure". On the contrary, the Left sees it as a rousing success: a large, docile, impoverished population ruled by a small entitled elite who live like kings. Of course there isn't enough room at the top for the number of Leftists who think they are going to be there, so most of them will have to be purged when the time comes.