Data – selling facts

I always visit the BBC News Website each day – I guess it’s my equivalent of a newspaper today – and today a story or rather facts caught my eye. Under the business section was a story about how the oil industry was crying out for support from the government in these suddenly low oil price times. This from organisations that were making record profits only months ago. Also on the page was a link to how much do you pay for your fuel, essentially a country by country comparison.

Diesel comparitive

Diesel comparative

Actually fascinating that the UK – an actual Oil Producer charges so much compared to others, Venezuela another producer charges so little at the other end of the scale. Why is it so? Well interestingly in both cases it is driven by politics and country finances. In the UK around 65% of the cost a consumer pays is tax to the government, whilst in Venezuela conversely it is the government subsidy that covers approximately 99% of the value.  Such extremes reflecting the extremes of political governance.

So sometimes the “facts” revealed by data can be astounding and produce outcomes that are not always expected.

 

http://www.bbc.co.uk/news/business-21238363

 

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