Venezuela takes back oil fields

[acmejack]

Wonder what Il Presidente del Consiglio. Silvio Berlusconiwill say?
snip>
Venezuela has taken control of two oil fields operated by French firm Total and Italy's Eni.

The government said it had taken the step after the failing to agree a deal with the two firms which would give it a majority stake in new ventures.

President Hugo Chavez has been working to strengthen state control over oil production in the country.

So far, 16 oil firms have agreed to change their operations into joint ventures with state oil firm PDVSA.

http://news.bbc.co.uk/2/hi/business/4873202.stm

[enid602]

1. Hugo

Aren't these just marginal fields about which nobody cares? I don't think the producing fields fall into this category. I don't think there's much chance that Hugo plans to nationalize Venezuelan fields.

[Joanne98]

2. Thank Gawd for Hugo Chavez! I LUV this guy! Go Hugo Go!

[Fridays Child]

5. Roger that!

:woohoo: :woohoo: :woohoo:

[IsItJustMe]

3. I don't think Exxon is going to like that. How long will it be before the

crap hits the fan there? It won't be long now. Wait and see.

[mom cat]

4. I think that Exxon - Mobile has already gone.

[oneold1-4u]

6. Nationalizing natural resources

Not too many years ago, gold and gold mining was somewhat nationalized in the US because no one was supposed to have too much in possession and had to sell only to the US government at $35 an ounce.
Had they done the same with oil, even with allowing cost overrides for exploration and development, and never exporting to all the countries now selling to us, we would still have great stores and deposits.
Most of the valuable forests today are still nationalized, but that is going down rapidly.
Try to think of nationalized natural resources as property of the citizens, not the government!
Whenever someone says this or that is "government owned", I try to explain that they and I own it, as do all US citizens! I hate the government selling or trading valuable timberlands today because only some multi billionaires can have them. If anything, those lands should be offered back to the Native American Tribes or put up for small homesteads and the money given to the Natives. It was all stolen from them with force! (Much like Iraq oil today)
They are now taking back all the water, including private property wells, and that too, could be good, if it means free good drinking water for all in case of disasters.
I'm for the people owning natural resources but never under the type of thieving government we have today.

[MasonJar]

7. As I understand it, Chavez had told the corps, which were not

paying the taxes, etc. that they owed to Venezuela, that they had a certain amount of time to pay up or the government or the oil fields would be confiscated. I think that there was an article cited on DU last week that indicated that several companies had reached an agreement in which they would share with the V govt., with the V govt. getting more than 50% share and say.

[bemildred]

8. The gift of public resources to private entities is theft.

Plain and simple.

[damntexdem]

9. Refill your tank at CITGO!

Let the excess profits go to someone who will use them well -- to fight poverty, and to fight Dubya.

[Zorra]

10. Nationalizing natural resources can help prevent fascism

from ever taking root in Venezuela.

Chavez sees how the fascists have taken over the US and is taking steps to avoid the mistakes we have made in letting our democracy be overthrown through corporate monopolization and the subsequent corporate takeover of our government.