Venezuela to seize oil projects
21st century socialism at work. Looks a lot like 20th century socialism to me.
CARACAS, Venezuela - President Hugo Chavez ordered by decree on Monday the takeover of oil projects run by foreign oil companies in Venezuela’s Orinoco River region.
Chavez had previously announced the government’s intention to take a majority stake by May 1 in four heavy oil-upgrading projects run by British Petroleum PLC, Exxon Mobil Corp., Chevron Corp., ConocoPhillips Co., Total SA and Statoil ASA. ~news.yahoo
Perhaps Hugo Chavez is doing the world a great service. We may need yet another example of the absolute bankruptcy of socialist ideals to further educate today’s starry eyed liberals and leftists. Although I doubt any further evidence, however stark, will dent the revolutionary fever of some.
Private control is, “disgraceful”.
The Orinoco projects are the only oil-producing operations in the country remaining under private control, which Chavez called “disgraceful.”
But private companies are welcome to continue ‘contributing’ to the national cause, of course…
But he added that Venezuela doesn’t “want the companies to go … We just want them to be (minority) partners.”
Private companies pumping oil elsewhere in Venezuela submitted to state-controlled joint ventures last year, and few resisted because they were reluctant to abandon Venezuela, which has the largest oil deposits outside of the Middle East.
Chavez has been given special powers by congress for 18 months to issue laws by decree in energy and other areas, which he has used to nationalize the country’s biggest telecommunications company and electricity company in recent days.
Chavez has justified the nationalizations as necessary to give the government control of sectors “strategic” to Venezuela’s interests. ~news.yahoo
Shoved into the internet 'tubes' on February 27, 2007, by Hegemonic Pundit,
under the following categories: 21st century socialism, culture of corruption, eco-terrorism, hegemony, hugo chavez, idiotarians, leftists, terror war, venezuela, war on terror
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