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Home » Maldonado’s Victory in Formula 1 Highlights Venezuela’s Corruption and PDVSA’s Misallocation of Public Funds

Maldonado’s Victory in Formula 1 Highlights Venezuela’s Corruption and PDVSA’s Misallocation of Public Funds

London 13.05.12 | Pastor Maldonado has just won the Spanish Grand Prix, held at the Circuit de Catalunya. Maldonado is the first Venezuelan in history to achieve a victory in Formula 1. If Maldonado’s arrival at the Williams Formula 1 team had been based on his merits as a driver, today’s win would undoubtedly be a cause for celebration among all Venezuelans. However, that’s not the case, as Maldonado didn’t join Williams F1 like Nico Rosberg did previously, or like Paul Di Resta at Force India, or Romain Grosjean at Lotus, among other examples of young drivers from the junior GP2 series who have earned their opportunities in Formula 1 through talent. No, Maldonado arrived with a pile of cash that, in the first place, belongs to all Venezuelans; and in the second place, was approved illegally by the regime of the dying dictator. There, and only there, lies the crux of the matter.

It is clear that for the Venezuelan political class, both chavista and opposition, Maldonado’s victory is a reason for joy, a good excuse to celebrate national pride and absurd feelings of jingoism.


The opposition leader and presidential hopeful of Venezuela congratulated Maldonado, calling him “great,” while Leopoldo Lopez sent his congratulations, and Pablo Perez, another leader, celebrated Maldonado’s entry into the history of Formula 1.

What message are the opposition leaders sending to the country, considering the many millions of dollars that PDVSA has spent sponsoring Maldonado? The message is clear, in my opinion: the theft of public funds from the Venezuelan treasury does not bother Venezuelan politicians in the slightest. On the contrary, achievements obtained through the improper appropriation of state resources are a source of pride and worthy of celebration.

Not long ago, I published in this same space a supposed invoice that Williams F1 would have sent to PDVSA. For the year 2012, the sponsorship amount is £29.4 million. In Venezuela, a country with a practically destroyed infrastructure, alarming levels of poverty, and a lack of education, that amount could have been used for projects that would bring solutions to thousands of Venezuelans. But no. The money has been spent on vain adventures. In the country that claims to be governed by an exemplary socialist regime, we see millions of dollars wasted on sponsorships for drivers and Formula 1 teams, the least socialist sport of all, which brings not even 1 dollar of return to PDVSA.

But the most exasperating part is the absolute immorality of the so-called opposition leaders, who express their best wishes to an athlete made successful through mismanagement, rampant corruption, and the unilateral decisions of a caudillo that no one dares to question, despite violating all laws regarding such matters. That’s the country, those are the leaders of the future, those are the athletes… What despicable people, and what a shame to belong to that nation. Every people has the government they deserve. Never has this been truer than in the case of Venezuela.

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