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Venezuela to nationalize U.S. firm's oil rigs

Venezuela to nationalize U.S. firm's oil rigs

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Originally posted by generalissimo
so you're saying the guy shouldn't call it a push for socialism even though it clearly is one? how absurd, are you not in favor of honest journalism?

This is only another of chavez's numerous govt takeovers, there clearly is a radical move towards the public ownership of the private sector, this can't be ignored.

[b]Personally, I think it's a lot t hey, you can't say that out loud, let other posters decide whether that is the case. 🙄
[/b]The reporter should report what happened, not write political pamphlets.

He should have simply said: "the latest takeover as president Hugo Chavez..."

There are many staunch capitalists who subscribe to (some) socialist ideals. We don't know Chavez' reasons.

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Originally posted by KazetNagorra
Reuters calls this a "push to socialism"? What a travesty.
http://groups.google.com/group/socialist-economics/browse_thread/thread/d1a7deacd172af29

=>

http://www.wmnf.org/blog_posts/obama-should-nationalize-bp

Obama should nationalize BP

Seán Kinane about 13 days ago

President Barack Obama should nationalize all U.S. assets of the foreign fossil fuel corporation BP. Today.

...

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Originally posted by KazetNagorra
The reporter should report what happened, not write political pamphlets.

He should have simply said: "the latest takeover as president Hugo Chavez..."

There are many staunch capitalists who subscribe to (some) socialist ideals. We don't know Chavez' reasons.[/b]
Chavez hasn't made his reasons clear?

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Originally posted by zeeblebot
http://groups.google.com/group/socialist-economics/browse_thread/thread/d1a7deacd172af29

=>

http://www.wmnf.org/blog_posts/obama-should-nationalize-bp

Obama should nationalize BP

Seán Kinane about 13 days ago

President Barack Obama should nationalize all U.S. assets of the foreign fossil fuel corporation BP. Today.

...
i wonder if Venezuela has any assets in the US the US could nationalize? tit for tat.

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Originally posted by zeeblebot
Chavez hasn't made his reasons clear?
Are you seriously suggesting we should believe everything politicians - even politicians of the kind of Chavez - say? Are you really that naive?

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Originally posted by zeeblebot
i wonder if Venezuela has any assets in the US the US could nationalize? tit for tat.
I'm against this kind of thing on priniciple.

If FMF comes to the US, I don't think anyone should be allowed to hit him over the head and take his wallet saying, "Tough titties. Your a Brit and this is America." If I go visit FabianFnas, I don't expect to have my camcorder impounded upon leaving and handed over to some Swede -- no matter how deserving he is.

I know there are people who don't believe there is anything wrong with stealing from American corporations -- but I think that sort of sweeping attitude is the economic equivalent of racism.

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Originally posted by KazetNagorra
Are you seriously suggesting we should believe everything politicians - even politicians of the kind of Chavez - say? Are you really that naive?
there's lots of fellow travellers who buy Chavez' line hook, line, and sinker.

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Originally posted by spruce112358
I'm against this kind of thing on priniciple.

If FMF comes to the US, I don't think anyone should be allowed to hit him over the head and take his wallet saying, "Tough titties. Your a Brit and this is America." If I go visit FabianFnas, I don't expect to have my camcorder impounded upon leaving and handed over to some Swede -- no matter how deservin ...[text shortened]... ations -- but I think that sort of sweeping attitude is the economic equivalent of racism.
i said "Venezuela", not "Venezuelan corporations". given that Venezuela has been on a nationalization spree, maybe it wouldn't be too hard to identify such assets.

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Originally posted by zeeblebot
there's lots of fellow travellers who buy Chavez' line hook, line, and sinker.
Definitely. But that doesn't mean that Chavez genuinely thinks that he serves the interests of the Venezolean people by randomly nationalizing assets.

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i don't think so either, but adam warlock and no1m, say, likely have different opinions on that.

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Redmike's opinion would probably be more nuanced and interesting, however, he seems to have stopped posting.

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Originally posted by zeeblebot
http://www.reuters.com/article/idUSTRE65N0UM20100624

Venezuela to nationalize U.S. firm's oil rigs
Frank Jack Daniel
Thu Jun 24, 2010 8:36am EDT

CARACAS (Reuters) - Venezuela will nationalize a fleet of oil rigs belonging to U.S. company Helmerich and Payne, the latest takeover in a push to socialism as President Hugo Chavez struggles with lower oi ...[text shortened]... e company's refusal to work before being paid the $49 million it has invoiced PDVSA.

...
Good fer him.

International Law allows nationalizations if compensation is paid. In prior cases, the Venezuelan government has always paid compensation though amounts have been disputed and the cases brought to the appropriate international forums.

So sorry Spruce; it ain't "stealing".

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Originally posted by KazetNagorra
Definitely. But that doesn't mean that Chavez genuinely thinks that he serves the interests of the Venezolean people by randomly nationalizing assets.
"Randomly"?

Perhaps you should read the article; the company has took these assets out of production for a lengthy period apparently to put pressure on the Venezuelan government. Definitely not a smart move; this is a government that doesn't allow foreign companies to run its economy.

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Originally posted by no1marauder
Good fer him.

International Law allows nationalizations if compensation is paid. In prior cases, the Venezuelan government has always paid compensation though amounts have been disputed and the cases brought to the appropriate international forums.

So sorry Spruce; it ain't "stealing".
is nationalization of a moveable marine asset not treated as piracy?

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Originally posted by zeeblebot
is nationalization of a moveable marine asset not treated as piracy?
I think you know the answer to that ridiculous question.