Oil prices
Portfolio has an interesting interactive online map with gas prices per gallon in countries around the world (Hat tip: Andrew Sullivan). Gas prices in Turkey are about three times as high as that in the U.S. I wonder which country is closer to the theoretical free market price?
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The less than 1 dollar per gallon does not describe the full extent of it all.
In Venezuela, a government that likes to call itself socialist and that has been ruling for almost ten years now, has not increased gas prices once even though inflation has been rampant and as a consequence… gas is being sold in Venezuela at less than 12 cents per gallon and with that around 10% of GDP is handed over to those who have the one and only necessary instrumentation to participate in the Venezuelan oil revenue sharing plan… namely a car.
Posted by: Per Kurowski | Aug 22, 2008 2:23:03 PM
Why do they have the Apartheid South Africa flag on this map? Several others were also wrong in Africa...
Posted by: OMW | Aug 26, 2008 12:32:26 PM
OMW, that's a good catch! That kind of mistake has to be a bit embarrassing for a company like Conde Nast - the publisher of Portfolio - that bills itself the way it does: "home to many of the world's celebrated magazines and websites, is committed to journalistic integrity, influential reporting and superior design."
Posted by: Ryan Hahn | Aug 26, 2008 1:42:20 PM