Article

2016-02-18 Caribbean-Latin America

Venezuela hikes gas prices for first time in nearly 17 years

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Posted by Fred 2016-02-18 00:00|| || Front Page|| [4 views ] Top
File under: Commies

#1 No food, growing unrest, global drop in gas prices...

I've got it - let's increase the price of gas!

Posted by Raj 2016-02-18 00:31|| 2016-02-18 00:31|| Front Page Top

#2 Aren't they afraid of how this will impact inflation?~

Posted by Sven the pelter 2016-02-18 08:57|| 2016-02-18 08:57|| Front Page Top

#3 I'm impressed they still have gas to increase the price of.

Hey, if you're looking for a steel mill, I know some Pakistani dudes who'll sell you one real cheap.

Posted by SteveS 2016-02-18 09:39|| 2016-02-18 09:39|| Front Page Top

#4 SS, during one their frequent refinery outages the actually imported finished gasoline from The Empire at market price and then gave it away.

A form of Deadweight loss.
Conversely, deadweight loss can also come from consumers buying a product even if it costs more than it benefits them. To describe this, let's use the same nail market, but instead it will be perfectly competitive, with the government giving a 3 cent subsidy to every nail produced. This 3 cent subsidy will push the market price of each nail down to 7 cents. Some consumers then buy nails even though the benefit to them is less than the real cost of 10 cents. This unneeded expense then creates the deadweight loss: resources are not being used efficiently.

Posted by Shipman 2016-02-18 14:38|| 2016-02-18 14:38|| Front Page Top

#5 ^Wiki

Posted by Shipman 2016-02-18 14:39|| 2016-02-18 14:39|| Front Page Top

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