Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Oil is power. Anyway, there wil be the usual voices of disgust and then it is back to business as usual. Nationalizing the oil industry is nothing new. The Saudis did it and we're still their 'friends'...see Aramco.
Quote:
Originally Posted by Miborn
He knows nobody is going to do anything about it!
Correct. There is nothing you can really do about it short of NOT doing business with the Venezuelans. But, since we're talking about oil and we need the oil...
"President Hugo Chavez said his government would begin seizing control of some oil contractors on Friday following the National Assembly's approval of a law that paved the way for the takeovers.
"President Hugo Chavez said his government would begin seizing control of some oil contractors on Friday following the National Assembly's approval of a law that paved the way for the takeovers.
Yep, I saw it. Not sure what your point is. Approval to "take over"?
I'll PUSH my car to a Marathon station before I ever wheel it into Citgo. Unfortunately for Chavez, the fancy full-page ads in the newspaper aren't enough to convince me to give that fool one red cent.
Host countries can exert a right of nationalization. This is well known in the international business community, and it is why many foreign investors take out insurance coverage against the risk. Chavez has been repeatedly elected to his position by substantial majorities in elections that have been certified as free and fair by recognized international observers. Too many people imagine the world to be as it quite clearly is not.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
