Venezuela's oil industry Skint

Economist ^ | may 16 09 | Economist

[GSP.FAN]

UNTIL a few weeks ago, the Venezuelan government was encouraging private investment in oil services. But in a sudden about-turn, President Hugo Chávez changed the law to make the whole industry a preserve of the state. On May 8th the National Guard began to occupy dozens of drilling rigs, docks and boats operated by private contractors, both local and foreign, hired by PDVSA, the state oil company.

[GSP.FAN]

The gas-injection will come from Hugo

[KarlInOhio]

The world looks more and more like Atlas Shrugged. This is amazingly similar to the San Sebastian Mine and railroad line nationalized by the People's State of Mexico as soon as the mine is completed. Hopefully the companies who had their equipment stolen were smart enough to only have third rate junk in Venezuela.

[genghis]

At least ZerO has some one to look up to and a few unrealized goals. i thought he wanted to turn america into italy, but really heis going to turn us into cuba.