Venezuela Resigned to Subsidies

摘要

Venezuela's state oil company PDV loses around $1.5 billion per year through domes- tic subsidies that make the South American Opec member's gasoline the cheapest in the world, the energy minister said on Sunday. At a cost of $0.11-$0.15/gallon, most Venezuelans can fill their tank for under one dol- lar. And since deadly protests in Caracas in 1989, successive governments have been wary of changing the subsidy policy and hiking prices.