Thread: Chavez announces May takeover of all Venezuela oil fields

http://www.worldtribune.com/worldtribun ... 27778.html
Chavez announces May takeover of all Venezuela oil fields

Special to World Tribune.com
GEOSTRATEGY-DIRECT.COM
Friday, February 9, 2007
Leftist dictator Hugo Chavez of Venezuela has threatened to take control of all oil fields by May and remove them from the control of U.S. and foreign oil companies, a move that could severely limit U.S. oil imports.

Chavez said last week that the oilfields of the Orinoco Belt would be placed under state control and that it would be up to the foreign companies currently operating the concessions whether to remain as minority partners with state-owned PDVSA (Venezuelan Petroleum, Inc.) or to quit the Andean nation.

"What we want is to negotiate," Chavez said. “But I have given instructions to the effect that May 1, all those fields greet the dawn under our control.
"When the law is made and we take control of those fields, the employees of those firms will be on the payroll of PDVSA, with all the rights and duties of a worker" at the state enterprise, Chavez said during a press conference at Miraflores, the presidential palace.

Venezuela is the world's fifth-leading oil exporter and the No. 4 supplier to the United States. The oilfields in the Orinoco Belt have been operated over the past 10 years in "strategic partnerships" between PDVSA and companies including ExxonMobil, Chevron, Conoco-Phillips, Total and BP.

The Orinoco sector is now producing around 600,000 barrels per day and is thought to hold massive reserves of extra-heavy crude. U.S. sources say the nationalization is a serious threat to U.S. energy resources. “They cannot operate the fields and production will go down fast and it is a big source of oil supply for U.S.,” said one industry expert.

Typical dictator. What's amazing is that some people on this site have defended this Hitler-in-the-making.

Yeah, this guy is a clown. I can't tell if people truly believe him, or they are intimidated. Either way, it is bad for Venezuela and the world. I was astounded that Americans fall for his baloney, especially the educated people. When he was here in the US, holding the little kid, peddling his cheap oil for the poor I wanted to punch the TV. What a spectacle that was. Shortly after, he was calling our President the Devil. I don't care how bad Bush is, Chavez is worse.

What's funny is that 20 years ago my Dad and stepmom were talking about moving there when they retired. They were painting a picture of Venezuela as the most progressive and forward-thinking country south of the US border. I told them then that they should think twice before moving to South America, given that most of the governments there have a shelf life of about twenty to twenty-five years. While living in Los Angeles back in 1992, I met some people from Venzuela and we hung out together for awhile. I was impressed at their level of education and general sophistication, and began to think that maybe Venezuela had a chance to buck the trend and achieve some genuine stability, especially given the relative wealth provided by its petroleum industry. I should have known better. As in the case of all of the South American countries, the problem is that a US-styled government CANNOT work, because it is dependent upon an informed electorate and upon some semblance of economic and educational equality. Most South American countries, including Venezuela, still have an ignorant peasant class that can easily be swayed with promises of wealth redistribution and who fall for fake populists who give lip service to championing their causes.

We would do well to learn from the failures of South America, because our own society is rapidly becoming similarly fractured. Large minority populations are almost as easily swayed by grandiose promises and special perquisites as are the Thrid World peasants. It's a dangerous trend, and one that the flood of illegal immigrants will only hasten.