Mr. Big Oil

What would oil policy look like in a Leopoldo López presidency?

1. Lots of investment in production, geared toward making Venezuela the world’s top producer

2. Lots of investment in gas, making us the continent’s top gas exporter.

3. Democratize the industry.

4. The creation of a solidarity fund with oil rents to finance poverty-alleviation schemes and a social security system that works.

5. The development of an ancillary-services industry, including the petro-chemical sector.

6. R&D funds for alternative energies.

There’s lots to like here. The trade-offs, however, are nowhere to be found. Because you can’t have lots of rents AND lots of investment AND high oil prices AND puppies and bunnies and rainbows.