the Sugar Conspiracy

Friday, June 18, 2004

El Robbin Hood

"Our president is giving me a chance to make my dream a reality," said Castillo, one of thousands of Venezuelans who receive schooling, and a monthly cash payment of $50 to $100, from Petroleos de Venezuela as part of a multibillion-dollar social and political experiment being conducted by President Hugo Chavez that has provoked a storm of criticism.

Chavez's government plans to spend at least $1.7 billion -- and perhaps twice that -- in oil revenue this year on social programs ranging from subsidized food to classes on literacy, farming, hair-styling and auto mechanics. Chavez has said his goal is a "social transformation" that will "redistribute national income" into the hands of the millions of poor people who have long been denied access to this country's vast oil riches.

But critics say Chavez is pandering to the poor to save his political career and gambling irresponsibly with the long-term fiscal health of a state company that provides half the country's revenue.

The article itself is more a discussion about whether Chavez is doing this for political purposes (which he probably is) and is harming the long-term viability of the oil company. But the idea - taking money from a corporation who is profiting off of oil that belongs to the people of Venezuela and using that money to raise the standard of education and living for the people - is intriguing.

posted by chris at 12:13 PM
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