Venezuela - Disastrous Fuel Subsidies

Venezuela is finally waking up to the consequences of having some of cheapest gas prices in the world for years:
http://www.washingtonpost.com/world/for-venezuela-the-magic-land-of-cheap-gas-a-big-hike/2014/01/19/cf52b096-7e1f-11e3-97d3-b9925ce2c57b_story.html

Update:

Venezuela’s – Collateral Damage from Bad Currency Policies

http://www.businessweek.com/articles/2014-01-27/how-venezuelas-currency-craziness-trashes-airline-service