Socialist Venezuela shuts down for a week as electricity is rationed


When people are free to choose and purchase energy in free markets, there are rarely any power outages or energy shortages. The private sector can quickly scramble to profit from people’s energy needs.

But in centrally planned economies like Venezuela, government picks and chooses energy sources for everyone. Government also chooses what prices will be paid for energy.

Now there is news that Venezuela is in the midst of a week-long power shutdown.

Electricity is being rationed, even though the government subsidizes the oil energy heavily. See here.