Venezuela to nationalize 'absolutely all' energy sector

CNN Money ^ | Jan. 14, 2007 | Reuters

[FairOpinion]

Chávez tells parliament: 'We have decided to nationalize the whole Venezuelan energy and electricity sector, all of it, absolutely all.'

Venezuelan President Hugo Chávez said on Saturday the country's entire energy sector had to be nationalized, reinforcing his socialist revolution and possibly giving himself more targets for state take-over.

But he said he would permit foreign firms to hold minority stakes in energy deals.

The president was reinaugurated this week for a term that runs through 2013.

Chávez has already pursued oil and gas projects and power utilities but on Saturday left no leeway for a private company to hold a majority in operations anywhere in the energy sphere.

[dfwgator]

I say that any Venezuelan who flees for the US, needs to begin training in the Florida swamps to take back the country with US help.

[Ramius]

Hugo is shooting himself in the foot.

Quite. And while it is no surprise that he'd pull this sort of thing... I do have to say that I cannot fathom why a dictator would be so eager to commit economic suicide.

It's something I've never understood about dictatorships. I mean... if I were a dictator of some banana republic I would think it would be a lot more fun to run a country that was successful and becoming more wealthy than to drive the economy into the dirt. I'd want jets and golf courses and gold plated yadda yaddas. You don't get that sort of lifestyle by creating more poor people. You get that sort of lifestyle by creating a wealthy country.

I'd want foreign investment flooding in, instead of running away. Sure, I know he's just an ordinary leftist believer, but still... it's so obvious that even the true believers have to finally get it. Don't they?

Look at the difference between guys like Chavez and Kim Jong Il... and somebody like the Sultan of Brunei. Seems to me, the Sultan has got this gig figured out. :-)

[Cold Heat]

Yeah, we have done similar things before.

It's been in the works at State for a while now, according to what I am reading from Rice. (She has this body language thing, and winks a lot.:-)

[FairOpinion]

"This fund, my brother," the Venezuelan president said, referring affectionately to Ahmadinejad, "will become a mechanism for liberation."

"Death to U.S. imperialism!" Chavez said. "


http://www.venezuelanalysis.com/news.php?newsno=2192

Don't we have a policy about states that support terrorism are just as guilty as the terrorists and we'll go after them?

If only we didn't have a terrorists supporting Democrat controlled Congress.

[tophat9000]

I am of the opinion that any government that nationalize in their country should surrenders any asset overseas to the over sea government that asset in located in

I.E. Hugo should surrender Citgo corp and all assets of it in the US to the US government, otherwise Hugo a hypocrite

I mean Hugo thinks private property should be nationalize ( owed by the local national government ...)

Well here in the US...Venezuela's property in the US is private property an the US government is the local national government....

So come on Hugo hand over Citgo to George Bush ... in fact screw what Hugo wants in the US ...George just ask you self "What would Hugo do" and just take Citgo

And if any of the left doesn't applaud there hypocrites

[Uncle Hal]

I hope Chavez self destructs very soon. He is a real problem in our own back yard.