The hits just keep on coming.
Either All Propaganda is lying again or Trump just went off the deep end.
I vote that AP is lying again. I hope I’m right.
So, I suppose Chevron share holders are just supposed to lay down and accept a 2.6 billion dollar loss? Where in the Constitution does it give the President this type of authority?
Baffled why a private company is being “ordered” to do something. Private companies should not be used as a “tool” in international diplomacy unless they are compensated. The Constitution requires “Just compensation” for a “taking” and Chevron should be kept whole.
And yes Venezuela deserves to be embargoed and pressured.
“an estimated value of $2.6 billion, which analysts say Maduro’s government will likely take over.”
In a year it will all be worthless.
Maybe less.
L
Venezuela is a narco-state. This is how they get their money. Trump is correct.
I would classify this action as a national security move.
more informative report than fake news AP:
Trump administration is simply not renewing Chevron’s license to operate in venezuela, like they’ve done so far every few months up until now ...
chevron is the last US major operating in venezuela, and their production is helping to prop up maduro, a narcocriminal wanted by the U.S. for drug trafficking ...
so what’s going to happen, is that maduro will take over chevon’s oil fields and run them into the ground:
“It’s the last U.S. oil company standing in Venezuela after ExxonMobil US:XOM and ConocoPhillips US:COP left years ago rather than accept the terms set by Venezuela’s socialist government to operate as minority partners in joint ventures with PDVSA.
Russ Dallen, head of the Miami-based investment firm Caracas Capital Markets, expects the Venezuelan government to take over Chevron’s operations itself and predicts Maduro’s administration will eventually run them into the ground. That is what happened to a long list of U.S.-built factories that fell into the socialist government’s hands when they decided to leave or were expropriated, he said.
“It may take years of decay for the government to destroy the Tiffany diamond that Chevron has built there,” Dallen said. “I have no doubt they’ll be able to destroy it.””