Posted on 05/18/2006 11:34:05 AM PDT by Kitten Festival
Venezuela and Mexico are among the potential strategic partners for joint operations in the fields that used to be developed by oil corporation Oxy. The corporate agreement to drill oil in the Ecuadorian Amazon was made null and void, the Ecuadorian Government disclosed Tuesday.
"There is the possibility of forming a strategic alliance with a state company, as set forth in the regulations," Ecuadorian Minister of Energy Iván Rodríguez said.
Additionally, there is the possibility of "contracting directly a state company of a foreign country to reinforce technically Petroproducción. The subsidiary of state oil company Petroecuador will be responsible for the fields that were held by company Oxy."
(Excerpt) Read more at english.eluniversal.com ...
Guess who wins in this billion-dollar expropriation of a U.S. company's assets? Guess who gets to paw through all the fancy drilling equipment?
Oxy -- Don't I remember that as Al Gore's big claim to wealth is his holdings in that oil company? Didn't his Dad hand him a large number of shares?
Gore's Oil Money: What's Good For Occidental...
Found it.
Venezuela can't operate their own stolen equipment. This ought to be fun to watch.
Yeah, but China might.........
Someone needs to let a liberal in on the secret, which this is. An actual example of when a government steals oil fields and related equipment.
But hey, when has the facts mattered to that crowd, besides their socialist governments...they get a pass.
It might well be true but Gore doesn't control the company, he just owns some shares, and those were given to him by smarter people. Given Gore's judgment skills about financial matters, he lost the money already.
Ha, Gore Sr, the Senator From Occidental "in my back pocket" as Armand Hammer used to brag.
The main reason the Western companies went back into Venezuela etc ten or fifteen years ago was that the state companies had fallen behind on technology & know-how and needed help. The same is true of Pemex (Mexico) but they haven't done much more than offer a few piddly contracts here & there (yet).
Something doesn't add up here. Ecuador's currency, the sucre, was so worthless that the government converted to the U.S. dollar several years ago.
Supposedly, U.S. companies have been excitedly moving into Ecuador. A new U.S. military base is being located on the Pacific Coast of Ecuador.
I think the new government of Ecuador is on a collision course with self-imposed extinction.
I'm tempted to blame Chavez-style bluster for this one but I really don't know the particulars. Anyone want to give us some background?
Why is Hugo still around?
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