Venezuela Petroleum

And a good alternative to increase its income, although not in dollars, but at least in strong bolivars (strong), it is through the devaluation of his currency. But this potential devaluation could be high, in line with the needs of the government of Chvez to maintain its accounts low. Then, if the Venezuelan accounts could close without inconvenient majors with a price of petroleum a 10% major: Why not to devaluate the Venezuelan currency in a 10% and thus to obtain that greater entrance than would be needed? Logically this one is not an idea that would recommend I, but I imagine that it can be an alternative that is evaluating Chvez. But OPEC already thought about a strategy that benefits to Chvez, although does not solve totally the problem that has taken place to him by the strong loss in the price of the petroleum, and that consists simply of the reduction of the daily production of barrels. In this arrived agreement, Venezuela would reduce its daily production of petroleum barrels in 129.000. Although it is a decision that serves to them to these countries, including Venezuela, to maintain the price of the barrel of petroleum, certainly it is not a good decision at moments in that the world-wide economy is to the doors of a recession. This decision could aggravate the situation of global crisis when generating some type of inflationary impulse. And for Venezuela it could have negative implicancias in terms of imported inflation, perhaps consequently, the benefit of this measurement turns out to be null. But returning to the subject of the dollar, its value in Venezuela maintains worried to its minister about Finances very. Al Rodriguez Araque, admitted in a televising interview that it represents a dilemma for the economic cabinet: somebody will say to me, good, if you have an sobreestimated dollar, then is easier to matter than to produce, partly that is certain, but also it is certain that as we have a great dependency of the imports, if we devaluated we are going to increase in price the imports strongly.