Posted on 06/30/2010 11:44:21 AM PDT by Dubya-M-DeesWent2SyriaStupid!
Venezuelan President Hugo Chavez (right) alongside Oil and Energy Minister ...
Venezuela's legislature has voted to nationalize 11 oil rigs owned by the US firm Helmerich & Payne.
The rigs, located in Monagas, Anzoategui and Zulia states, will be taken over by state oil giant Petroleos de Venezuela (PDVSA), the official news agency AVN said.
PDVSA had asked the legislature controlled by supporters of leftist President Hugo Chavez to take over the rigs after the US firm declined to negotiate a new service contract, unlike 32 other foreign firms.
(Excerpt) Read more at breitbart.com ...
Destroy the wells.
When asked for comment, Obama said “You can do that?”
This could never happen in the United States /s.
send in the cement...now... before the troops land on the rigs
There....fixed it.
bump
Are we living in the twilight zone...seriously?
It is like the mainstream media like this news...
http://news.yahoo.com/s/afp/20100630/bs_afp/venezuelanationalizationoilus
Everything is peachy and honky dorey and I will bet communist Hollywood and the democrats that love Chavez are chalking one up for progressive communism but it is unpolitically correct to say it IS COMMUNISM!
Sluggo learned this trick from his buddy Fidel. The company refused to sign a new contract because they were owed $50 million in arrears!
Can these rigs be moved?
Um...I’d have armed Marines there before Hugo even got to the rig.
Depends on the type and where they are flagged. Most likely they are flagged for Venezuala - or they are permanent structures which is why they fall under Venezuela’s jurisdiction.
H&P’s greed overcame their common sense. They knew that working in that country was beyond risky but were blinded by the money.
Now, they pay the piper and go home empty handed.
I cannot feel remorse for anyone or any company that works in these Banana Republics and then whine when their candy is taken away.
Didn’t Chavez try this with Exxon Mobile a few years back and a US Court had the state oil company of Venezula’s assets frozen?
I’m sure this will encourage foreign investment in cash starved, poverty-stricken Venezula. Seems every tin horm “generalissimo for life” bannana republic dictator has to learn the same lessons all over.
On Saturday, Ramirez said the OPEC member would pay Helmerich and Payne book value for the equipment and would agree a price in talks with the company.This is still awful but Andrew's story does not give out that information and leaves the impression that the were siezed without payment. story"
Maxine Waters, and Obama, are salavating at the thought.
Send in the B-52’s they will calm that little Commie down quick.
OK, now I get it.
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