Oil revenues per capita since the 70’s: The Devil’s Excrement rules!

January 31, 2009

Capitalism, Socialism, Oligarchs, Revolutionaries, IVth. Republic, Vth. Republic. It is all empty words, rhetoric for Venezuelans when you see the plot below which shows oil export revenues (in blue) and oil export revenues per capita (in red) from a presentation by Economist Miguel Angel Santos:

Oil Revenues per capitaAs you can see, oil export revenues per capita are still below the peaks of the 70’s at US$ 3,500 per capita. So people felt better in the 70’s because of this and these same revenues keep people going today. But little has changed, there was no model then, there is no model today.

It’s the Devil’ Excrement.

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