Posted on 05/04/2019 8:58:43 AM PDT by MtnClimber
That didn't take long. Mere days after President Trump lifted the waiver on lawsuits by Americans to sue communist Cuba for expropriated assets, Big Oil's Bigfoot, ExxonMobil, was on this case like Godzilla. The Miami Herald reports that it is ready to stomp Cuba: Exxon Mobil has filed suit in U.S. federal court against Cuba’s CIMEX and CUPET companies for their use of an oil refinery and other properties seized by the Fidel Castro government six decades ago. Exxon Mobil is the first U.S. company to file suit after President Donald Trump allowed Title III of the Helms-Burton Act to take effect, opening the way for demands against Cuban and foreign companies that benefit from properties seized by the communist government. Title III had been suspended every six months by every U.S. president since the law was approved in 1996. That's a monster. And it's going to cost Cuba big, if ExxonMobil wins, and ExxonMobil always plays to win, and with some of the world's best attorneys, it usually does win. The Helms-Burton law of 1996 states that U.S. companies who had their property stolen by communists in Cuba are entitled to sue for three times the value of the stolen properties, plus 6% annual interest, which, compounded over 60 years of Castro rule, is a...lot of interest. The company must have had that lawsuit ready for Trump's move, given the speed with which it was executed.
(Excerpt) Read more at americanthinker.com ...
I forgot to add Mexico to that list of countries who nationalized ExxonMobil’s oil interests. Hey, that would be a good way to get Mexico to pay for the wall.
That is what the turd world is doing to us.
The Castro boys have billions in offshore accounts. They’ve stolen everything from the people and from any company who believed their bullschtein re doing business there. IE: Spanish building company remodeled falling-down apartment building with the understanding that company would then sell apartments as condos. When the beautiful job was complete, Castro “nationalized” the building and the company lost millions. Castro sold the condos, the money went into his offshore coffers. One example of rampant fraud by commies.
IIRC, Helms-Burton only applies to Cuba, not Saudi Arabia, Iran, Iraq, or Mexico.
I know that. That is why I urged Trump to let ExxonMobil go after their other nationalized interests. You are correct though that that might indeed require some legislation similar to Helms-Burton.
I see on further checking that Hitler’s Germany became a big purchaser of the then nationalized Mexican oil, and that the US then ultimately pressured Mexico into compensating the US oil companies at at least a pittance for their lost property.
I strongly doubt that Trump would go after the other countries for compensation to US companies for their nationalized oil interests, even socialist Venezuela. The value of the nationalized properties in those other countries was/is huge. For example, some put the current value of Saudi Aramco (the Saudi state-owned oil company) at 2 trillion, much of it the former property of Aramco (the Arabian American Oil Company which became a partnership operation of various private oil companies).
If Cuba can’t pay then they need to be put out of business quickly with the necessary enforcement
The world would be a lot better off today if we had but the Arabs back in their place back then. Would have been even better of we stopped them from nationalizing the oil fields
Be sure to drink your Ovetloons? A crummy commercial?
That was my wonder, how do they collect when they win?
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