Long Live Venezuela!

Collectively comprising over 50% of the global nominal GDP, people living in the G8 countries, or in the eight wealthiest countries in the world, are considered to be privileged by many. Not so fast.
Being a G8 resident has its perks for sure, except perhaps when it comes to filling up our gas tanks.

According to Bloomberg's latest 2013 Gas Price Ranking report, Canadians pay an average $4.76/gal at the pump, whereas our Southern neighbors pay $3.29/gal. These numbers look pretty encouraging when benchmarked against our European G8 counterparts like Germany, France and the UK, where the gallon hovers in the $8 to $9 range.

Meet Venezuela. In this paradise of a nation, blessed consumers pay only $0.06/gal at the pumps! That is no typo I assure you, and those are not 1960 prices.

But to compare apples to apples we must put these numbers in perspective many would argue. We certainly must. Here's some basic numbers to help measure the apples. Venezuelians earn an average daily income of $31 and the share of a day's wage needed to buy a gallon of gas is 0.2%. Compare that to 3.3% for Canadians and 2.4% for Americans.
To make things even worse, with 2.45 Million barrels per day, Venezuela is only the 13th largest oil producer in the world, whereas Canada and the US are the 6th and the 3rd largest respectively.
In a nutshell, Venezuela produces and exports less oil, but subsidizes much more, without having to compromise other social programs.

I love Canada. I really do. But imagine how the quality of our lives would have improved if instead of waiting at the bus stop under the freezing cold, we didn't have to worry about owning a vehicle and running it to work every day; if instead of seeing grim faces at the gas pump everyday, everyone was smiling and greeting each other happily; if instead of taking long, calculated trips once every few months, we explored more of our beautiful country more often; and instead of budgeting for gas expenses every month, we spent the saved portion on things that built satisfaction while still contributing to the national economy.

Until we see that glorious day, it would be worthwhile to enjoy the perks of a G8 citizen by visiting Venezuela more often instead. The experience of filling up a tanker for half a loonie sounds so very priceless afterall!