Tuesday, February 27, 2007

Politics: He's so retro.

"The privatization of oil in Venezuela has come to an end."
-VENEZUELAN PRESIDENT HUGO CHAVEZ ordering the take over of oil projects run by foreign companies in Venezuela's Orinoco River region
Nationalizing industry; that's so... so 20th Century...

(And it worked so well the first time around, too.)


Standard Mischief said...


"CARACAS, Venezuela (AP) - Meat cuts vanished from Venezuelan supermarkets this week, leaving only unsavory bits like chicken feet, while costly artificial sweeteners have increasingly replaced sugar, and many staples sell far above government-fixed prices...."

rickn8or said...

There's nothing quite like watching someone slash their own throat.

He'd better enjoy this, 'cause he can only steal the wealth once.

Who is gonna invest in Venezuela when it's just gonna be nationalized?

And just how is Hugo gonna prop up his socialist hellhole without foreign capital??

Kristopher said...

You can bet that the oil corps that used to own those oil fields had them mortgaged to the hilt with local Venezuelan banks.

Guess who will really get to pay for this nationalization, when the oil companies deliberately default on that debt.

Will said...

I think if I was going to build a company structure in one of these 3rd world countries, I'd have some carefully placed demo waiting for this sort of problem. Give all the workers a paid day off, activate the system, hit the switch and gee, I guess the local geurillas must've hit the place. Steal my business, good luck.


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