Posted on 05/18/2006 2:15:11 PM PDT by Kitten Festival
NEW YORK, May 18 (Reuters) - Occidental Petroleum Corp. (OXY.N: Quote, Profile, Research) is seeking damages totaling more than $1 billion as part of an arbitration claim against the Ecuadorean government for seizing its assets, a company spokesman said on Thursday.
The U.S. oil producer has also terminated all local employees in Ecuador and is relocating its expatriate staff, the spokesman said.
(Excerpt) Read more at today.reuters.com ...
Socialism works great!
Anyways, I do want the socialist/communist candidate to win in Mexico.
Go Obrador!
guess Gore dumped his shares too
Doogle
There goes Gores trust fund. Might he have to get his first real job?
I wouldn't expect payment anytime soon. Can't squeeze blood from a turnip.
RE: Al Gore's Wealth: the Google socialists gave him a director job and a bunch of stock and he's a very very rich man now.
The next time he spouts off about "the rich" I hope I'm in the audience.
Gore got a massive bribe of (I swear) early low-cost Google stock, now worth close to $100 million.
....the toxic lake and open cast talc mine....sweetheart deal from Occidental.
The next time he spouts off about "protecting the environmment" I hope I'm in the audience.
Lots of Luck to them. They are probably fortunate the expatriate staff wasn't imprisoned as well.
Yeah but he still grew up in a hotel and takes 3 showers a day. He lives in his own hell, unfortunately he tries to make us live in it as well.
"..The crucial moment arrived when Colonel Qaddafi threatened to cut off supplies to Occidental Petroleum - and Occidental's chairman, Armand Hammer, could not convince the major oil companies, which had long regarded him as an unscrupulous price-cutter, to sell him non- Libyan oil. Occidental gave in to Libya's demand, and the rest of the dominoes soon fell..."
This will make it difficult to impossible to get financing from the normal sources, and most private companies will be very hesitant to invest, especially in the wake of seeing the same thing happen in Bolivia a month back.
Ecuador depends heavily on foreign investment, due to the malfeasance of its state oil company. They will need to attract foreign capital. As it happens, Chavez and the Chinese are sniffing around looking for bargains, and they may have just found one.
Why?
If Occidental can sue Ecuador, what about a class action suit against the Mexican government and it's war on our borders?
(I do want the socialist/communist candidate to win in Mexico.)
Why would you want our neighbour to be more screwed up than it is?
Consider his most recent comments.
Mexico is run by rich white racists, who deal with their social problems by actively exporting them North.
It cannot get any worse than Fox.
At least Obrador has some pride.
YOu bet your A$$ this is about Chavez and his Chicom buttbuddies.
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