Thursday, March 25, 2010

Venezuela's Energy Crisis

Hugo Chavez has extended the Easter holiday in Venezuela by three days (for most Venezuelans, that now means a 7-day break) in an effort to conserve energy. All government and public offices will be closed starting on April 1st. Venezuela's main hydroelectric dam is currently suffering low water levels because of drought, although opposition to Chavez claim that this energy crisis is a result of poor investment and inefficiency. In an effort to combat energy problems, last month Hugo Chavez signed a decree that will increase electricity prices by 75% for all high energy-users (500+ kw/month) that don't reduce their consumption by 10% or more.

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