WHEN oil was king, in the 1970's, money also flowed in Caracas. Today, after a couple of years of stringent and unpopular economic measures intended to curb rampant inflation, the mood in this Venezuelan city that loves to party is rebounding. A bustling metropolis of four million, Caracas offers a cosmopolitan array of dining options, including French, Italian, Spanish, Chinese and even Thai. Argentine and Brazilian-style steakhouses and grills are popular. As for typically Venezuelan food, the focus is strongly on meat.

The city is strung out in a narrow valley below Mount Avila, which separates it from the coast, in a set of neighborhoods that are mostly only a few square blocks. The upscale hotels and better restaurants are in the eastern part of the city in Las Mercedes, Chacao, Chuao, Altamira, Los Palos Grandes, Bellas Artes and La Castellana.

After three visits, I am beginning to know Caracas. It reminds me of Los Angeles, with one important difference: the way to get from place to place is by taxi. Driving the city's inevitably traffic-choked avenues and freeways to find an address when streets often do not have signs can daunt even the residents. When taking a taxi it is useful to know not only the address of one's destination, including the district, but also the nearest cross streets.

Taxis rarely have functioning meters so the fare should be negotiated in advance; use only cabs with license plates. A ride from a major hotel like the Tamanaco-Intercontinental, the Hilton or Eurobuilding to restaurants in the better areas should cost no more than $4 to $5. Town car service from a hotel might charge double that amount. Restaurants will call a taxi for the return trip if there is no taxi stand on the block. Tipping drivers is not customary.