By , January 17th 2006
It is a very frequent assertion by the Venezuelan opposition and a significant number of casual observers that Venezuela has received spectacular amounts of oil revenues under the Chavez administration (see here for an example). Generally these assertions are the lead up to the statement “how can Venezuela still have any problems or unmet needs when it is swimming in petrodollars. With all the money they have the country should be rich”. So goes the argument.
