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Oil Companies Defy Venezuela

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posted on Jun, 26 2007 @ 10:42 PM
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Oil Companies Defy Venezuela


www.nytimes.com

A possible vacuum in expertise could eventually be filled by Chinese, Iranian or other state oil companies. In any case, most energy experts believe that the Venezuelan state oil company will be hard pressed to sustain production levels without American expertise.

Rafael Ramírez, the Venezuelan energy minister, made the announcement in Caracas. He concluded that the companies had not met the government’s deadline to agree to terms under which the government oil company would take majority
(visit the link for the full news article)


Related News Links:
www.reuters.com
news.monsters andcritics.com

Related AboveTopSecret.com Discussion Threads:
Venezuela Pulling Out of IMF, World Bank
Venezuela Pulls Control From Big Oil




posted on Jun, 26 2007 @ 10:42 PM
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I see two things in this. Both stated in the news article. First although this may not have an immediate impact on oil production, it may in a short time period. Second, when production does fall of a little bit, and price goes up, it will help Venezuela with the increase in price. So will the powers that be let this little tiff between Venezuela and the oil companies go on unabated?

www.nytimes.com
(visit the link for the full news article)



 
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