The Minister of Energy and Mines said on TV that PDVSA would be reorganized as its costs were the highest in the world among oil companies. This presentation prepared by the people from Gente del Petroleo argues that the argument is incorrect as the US$ 7.5 per barrel of royalties charged by PDVSA was included in the calculation of what is the cost to produce a barrel of Venezuela’s oil. Gente del Petroleo should not be confused with Unapetrol. The former is a Civil Association of PDVSA’s employees to interact with society, the latter is the white-collar union formed at PDVSA after April 2002 tragic events.
Since we are on the PDVSA subject and I want this site to have a complete documentation of what is happening, here is the link to the interview with Harvard Professor Ricardo Haussman in NPR, it is long (almost an hour!), but worth listening to. Haussman was Minister of Planning in the early nineties and was Chief Economist at the Interamerican Development Bank.
The Devil's Excrement 
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