A picture is worth more than 10,000 words #34: Oil prices do not corralate with oil income

September 30, 2007

This graph, ripped off from Santander Investments, shows the low correlation between the Venezuelan oil basket and oil revenues as reported by the Venezuelan Central Bank (less than 0.25 according to Santander). This is a clear example of the lack of transparency and the lack of credinility of the numbers thew Government publishes. Imagine after the Central Bank is no longer ‘independent”!!!

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