Venezuelan dictator Hugo Chavez buys loyalty from supporters through handouts from Venezuela????s vast oil bounty. So while accidents are at a record high and investment is at a record low at Venezuela????s state oil company, something that high oil earnings should alleviate if PDVSA were a normal company, it has instead become Hugo Chavez????s personal ATM for social spending programs. Gustavo Coronel has a fine essay on the phenomenon here.