Decline in the production of oil (measured in barrels) during the presidency of Hugo Chávez, due to lack of investments.
of Venezuela’s total income comes from its oil industry. It has the largest oil reserves in the world. Under Hugo Chávez, production and income have both declined.
100,000 [per day]
Barrels of oil sold to Cuba every day, at bargain prices way below market value. Venezuela produces 2.8 million barrels a day.
Homicides registered during 2012, a record that can also be measured as 56 murders per 100,000 Venezuelans. It is the second highest murder rate in the world. Number one is Honduras.
Inflation in 2012. In the past seven years, Venezuela has had the highest inflation rates in Latin America, despite controls on prices and exchange rates.
Devaluation of the national currency (Bolívar), decreed in February 2013. Economic analysts forecast even greater devaluations in the near future if Venezuela fails to invest in its oil industry.
Millions of dollars Venezuela has borrowed from China in the past five years.
Number of businesses seized by Hugo Chávez during his 14-year dictatorship. These expropriations and the resulting growth of the government sector have not generated any wealth, but rather increased the overall poverty of Venezuela.
I’ll add another number:
Hugo Chavez’s estimated net worth at the time of his death.
Which brings us to the tweet of the week,
My greatest regret at the passing of America-hating strongman Hugo Chavez, is that he didn’t live long enough to party with Dennis Rodman.
— Rob Lowe (@RobLowe) March 6, 2013
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