Chavez seizes oil service firms [US firms, Obama lets him get away with it]

BBC ^ | May 9, 2009 | staff

[Red Dog #1]

National CITGO’s U.S. holdings!!!

[Chgogal]

http://magazine.wsj.com/features/the-big-interview/desiree-rogers/

How is that “branding of Obama” working for you, Voodoo Priestess?

[TheLawyerFormerlyKnownAsAl]

Why no companies named?

[walsh]

Pity the owners of these business didn't see this coming when Chavez became president and leave Venezuela then.

There were people back then who said Chavez would seize all US businesses.

Oh, well, maybe the next business owner will learn from this and not do business with Chavez.

Sanctions on Chavez are definitely called for.

[dfwddr]

TULSA, Okla., May 8 /PRNewswire-FirstCall/ -- Williams (NYSE: WMB) today confirmed reports that the Venezuelan government has seized two assets - El Furrial and PIGAP II - that the company operates in Venezuela.

After a long period of non-payment by Petroleos de Venezuela S.A. (PdVSA), Williams recently issued notices of default under its services agreements. The seizure of assets and termination of the associated contracts trigger rights to receive payment for the seized assets. The contracts and international law call for international arbitration of any disputes concerning those payments.

More here

[been_lurking]

I imagine the gas services company bought insurance against state siezure of their property.

Probably insured though AIG. Oh well.......

[patton]

Or enron.

[Ron Jeremy]

Originally.. Williams does all sorts of stuff. Almost went out of business a while ago because they were laying internet backbone all over the place that turned out not to be needed.

[wastedyears]

The proper response is carpet bombing until they give them up.

[topher]

Since this is a MilitaryOp, this seems to imply that the workers are now slaves of the government.

I guess if you say a bad word about Chavez, you can be shot... Unless they really need you...

I imagine Obama thinks the new wave of slavery engulfing the world is a good thing -- especially since he is one of the master's and not a slave...

[TLI]

Looked that up. Sure enough, "Comrade Øbama."

The Øne sure is stacking up a LOT of negative points. Time will tell what all that bad ju-ju will bring to him.

[ETL]

Time will tell what all that bad ju-ju will bring to him.

By then it might be too late.

[catnipman]

“Today, the private banks and insurance companies disappear, we don’t need them, government workers can do the job and be more efficient,” Obama said in reference to the Bank of America and AIG. “We’re going to bury capitalism in America.”

[A_Former_Democrat]

I’ve wondered the same

[catnipman]

Be it Somalia pirates seizing boats or Venuzalian pirates seizing boats, Obama’s response is the same: nothing. Oh, that’s not quite right. He shakes the hands of some of them during photo ops. Guess the guy must really like pirates.

[headstamp 2]

“We’re going to bury capitalism in Venezuela.”

Good, then they’ll starve to death.

[Gay State Conservative]

Geeze...give me an M-14 and a ticket to Caracas and within a week I'll make Hussein one *very* unhappy POTUS.

[keats5]

Sent to DRUDGE for more exposure.

[TaxRelief]

Williams Cos.

[TaxRelief]

Also, I really have to wonder how closely our military leadership is watching events unfold in the our capitol.

Some, like Colin Powell, have proven themselves to be fans of the status quo.