The New York Times looks at Venezuela and revisits the effect of the Devil´s Excrement in tomorrow´s Sunday magazine under the title ¨The Perils of Petrocracy¨A good look and description of why Pdvsa and Venezuela are in trouble. The more things change the more they stay the same…
The Devil's Excrement
Observations focused on the problems of an underdeveloped country, Venezuela, with some serendipity about the world (orchids, techs, science, investments, politics) at large. A famous Venezuelan, Juan Pablo Perez Alfonzo, referred to oil as the devil's excrement. For countries, easy wealth appears indeed to be the sure path to failure. Venezuela might be a clear example of that.
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The Devil's Excrement 
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