[Demidog]

When the Arab governments nationalized their oil industry, they took possession of these properties by force. Now, our government would be justified in taking the original oil rights back to the oil company owners;

How so? Our government is not involved in the transaction and has no jurisdiction. That wouldn't be even remotely legal. Our government was not harmed either. Only the corporation. It is the corporation's responsibility to handle its affairs.

[annalex]

When individuals -- in this case, the owners of a corporation -- are harmed in a foreign land, our government has no duty to intervene if the individuals accepted the risk inherent in foreign investment. However, if our government chooses to act in retaliation, it would be justified as defensive application of force on behalf of its citizens. And that's what Peikoff is suggesting: if a country positions itself as our enemy in the war on terrorism, then our govenrment might just as well repossess the oil companies' property there.