It might be cheaper for you to drive to Venezuela to fill up your tank

It's almost the start of the summer driving season in the United States. Most drivers are becoming increasingly alarmed at the cost of gas. In many parts of the country, a gallon of gas costs $3.12. Compare that to Venezuela where gas costs a bit less. Like, $3 a gallon less.

The current street price for a gallon of gas in Caracas is just 12 cents a gallon. You could fill up your whole tank for about $2.

Why is it so cheap? Because the Venezuelan government nationalized the oil industry there, and sets the price at whatever they want. Would I want to pay 12 cents a gallon for my gas? Sure! But not if that's what everyone is going to pay, too. I'm not trying to be greedy, but I know that if the government undercuts the price of any commodity or service, somebody is going to have to make up the difference. And in the United States, that somebody is Joe Taxpayer.

Venezuelans might be enjoying their cheap gas, but you can bet they're paying for it another way. Jose Luis Cordeiro, a petroleum engineer who writes about energy issues, estimates Venezuela would have taken in at least an additional $8 billion last year -- almost 8 percent of the nation's GDP -- if Venezuelans had paid market rates for fuel.