Roger that. It's virtually right out of the book, isn't it?
Posted on 04/13/2007 2:14:01 AM PDT by Navydog
CARACAS, Venezuela (AP) — President Hugo Chavez said Thursday that soldiers will accompany government officials when they take over oil projects in the Orinoco River basin next month.
Chavez has decreed that Petroleos de Venezuela SA, or PDVSA, will take a minimum 60 percent stake in four heavy-oil projects in the Orinoco River region and invited the six private companies operating there to stay on as minority partners.
"On May 1 we are going to take control of the oil fields," Chavez said. "I'm sure no transnational company is going to draw a shotgun, but we will go with the armed forces and the people."
The projects — run by BP PLC, Exxon Mobil Corp., Chevron Corp., ConocoPhillips, France's Total SA and Norway's Statoil ASA — upgrade heavy, tar-like crude into more marketable oils and are considered Venezuela's most promising. As older fields elsewhere go into decline, development of the Orinoco is seen as key to Venezuela's future production.
Negotiations over the takeover have yet to yield an agreement and are expected to be difficult as the companies seek a deal that takes into account more than $17 billion in investments and loans related to the projects.
Chavez has been given special powers by congress for 18 months to issue laws by decree in energy and other areas, which he has also used to nationalize the country's biggest telecommunications company and electricity company.
Chavez has justified the nationalizations as necessary to give the government control of sectors strategic to Venezuela's interests.
I had to look at your home page after that comment. Impressive. You go girl! If you are in the military, thank you for your service! If not God Bless, we need more like you out in Kalifornia.
“Is anyone from Evil Big Oil reading this?! You guys are such a disappointment! This two bit dictator steals from you and yet you let him live? What’s up with that? If you don’t make an example out of this thug, EVERY two bit dictator will be stealing from you next. Is that what you want?”
OK. Why should an oil company care? They made their money back 10 times on this. Give them a piece of the action, and tell them they no longer have to sink any more money into it.
I think the oil company makes out better. Personally, I would torch it.
...wonderful photo of you!!!
You're kidding me?
Chavez would do well as a Democrat in the United States. Good fit.
What countries are Exxon and Chevron based in?
No need. The left is stupid. They think oil just sits underground in a big pool and all you do is stick a pipe down there and pump it out. That's just not true at all. It requires a large amount of capital and expertise. However, that capital and expertise is being driven out of Venezuela. In three rears or so production will be less than 50% of what it is today.
Venezuelan crude would need a lot of napalm to get it going. I am having a hard time understanding Chavez' "get tough policy," because refining Venezuelan crude is a tricky process limited to very few refineries, which are not in Venezuela.
Without access to those refineries, Chavez is up the Orinoco without a paddle.
“The CIA used to take care of these Hugo Chavez types. CIA did it for our oil companies which used to be fairly patriotic”
So did our CIA, once upon a time.
One of these days the mega-companies are going to form private armies.
Roger that. It's virtually right out of the book, isn't it?
The Republic of Texas and the Democratic Peoples Republic of Kalifornia.
A Zippo lighter is all it would take to fix this problem...”””
All the movable assets need to be taken, along with all the personnel that count, then flame away.
I don’t think anyone under Chavez even knows how to put out an oil fire.
Wyatt’s Torch it.”
AMEN..
I just finish my 6th reading of this book.
I recommend it for everyone here at FR.
Where are Ellis Wyatt or Francisco D’Anconia when you need them?
You have been officially adopted as a daughter! Will call my attorney and get my will changed!
Within a year Chavez will be on his knees begging for the oil companies to return.
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