It seems ironic that Venezuela, the world’s biggest oil producer outside the Persian Gulf, should be buffeted by massive electrical blackouts. But with 80% of their power generation derived from hydropower and the country facing its worst drought in at least half a century, Venezuelans are not amused. Since September, rolling blackouts of two hours daily have made Venezuelan life arduous. Life became tougher last month, when medium- and large-scale businesses were ordered to reduce their electricity use by 20%, some cities faced up to four hours of daily blackouts through government rationing, and state companies producing steel, iron and aluminum limped along at less than two-thirds of capacity. The disruptions have stoked criticism of President Hugo Chávez’s government, in particular for failing... [Log in to read more]