Chavez to nationalize US owned oil rigs

www.breitbart.com...

Is he trying to start a fight? Nationalizing your own countries crap is one thing that a dictator does, but to take our stuff is another. I dont agree with either but this is taking things a bit to far. Anybody wanna guess the outcome of this? I doubt war but sanctions maybe? Embargo? How much you wanna bet Obama doesnt do anything about it?

My guess would be that Chavez is counting on Obama not doing anything about this, that's why he's threatening to nationalize our property. Not that I'm wishing the ineptitude of the Republicans on anyone, but if there were a more hawkish, nationalistic GOP poster child in the White House, he might have to think this over a bit more...

In any case, even if Obama does grow a pair I doubt it'll lead to war, or even sanctions... freezing every Venezuelan asset in the Unites States and using those funds to start paying down the U.S. debt would send one helluva message.

In any case, I doubt anything is going to come of this... especially since there was a thread about those 11 rigs being seized a couple of weeks ago and as yet, we've not heard one peep from the WH about it, nor from Obama's lapdogs in the MSM.

[edit on 1-7-2010 by Legion2112]

Obama will not only do nothing about it, he is taking notes.

Or maybe Chavez got the idea from Obama himself....banks, auto companies....why not oil companies?

Last time a country tried to nationalize oil company assets its government was dethroned and another installed in its stead.

That country is Iran.

The company who lost it's assets was BP.

Personally I think we'd be better off not invading Venezuela. However we need more oil. So if we have to go in there. I wouldn't be surprised.

CARACAS, Venezuela – Venezuela's government has seized control of 11 oil rigs owned by U.S. driller Helmerich & Payne, which shut them down because the state oil company was behind on payments.

Oil Minister Rafael Ramirez announced that Venezuela would nationalize the Tulsa, Oklahoma-based company's rigs. He said in a statement Wednesday that Helmerich & Payne had rejected government demands to resume drilling operations for more than a year.

news.yahoo.com...

Hmmm, the oil company was behind on payments and rejected demands to resume drilling. I have no problem with Venezuela seizing assets to pay debt owed. I have zero sympathy for the oil industry.

Originally posted by Aggie Man

CARACAS, Venezuela – Venezuela's government has seized control of 11 oil rigs owned by U.S. driller Helmerich & Payne, which shut them down because the state oil company was behind on payments.

Oil Minister Rafael Ramirez announced that Venezuela would nationalize the Tulsa, Oklahoma-based company's rigs. He said in a statement Wednesday that Helmerich & Payne had rejected government demands to resume drilling operations for more than a year.

news.yahoo.com...

Hmmm, the oil company was behind on payments and rejected demands to resume drilling. I have no problem with Venezuela seizing assets to pay debt owed. I have zero sympathy for the oil industry.

Ah, but there is the key words there in the article: The state run oil company was behind on its payments. So the taking of those rigs were illegale in nature, kind of like you being behind in say your electric bill, so you take over the electric company.

Originally posted by Aggie Man

CARACAS, Venezuela – Venezuela's government has seized control of 11 oil rigs owned by U.S. driller Helmerich & Payne, which shut them down because the state oil company was behind on payments.

Oil Minister Rafael Ramirez announced that Venezuela would nationalize the Tulsa, Oklahoma-based company's rigs. He said in a statement Wednesday that Helmerich & Payne had rejected government demands to resume drilling operations for more than a year.

news.yahoo.com...

Hmmm, the oil company was behind on payments and rejected demands to resume drilling. I have no problem with Venezuela seizing assets to pay debt owed. I have zero sympathy for the oil industry.

In fact, it was PDVSA the one who bas behind payments, no the US one.

Im Venezuelan, here almost all the gov-owned industries are behind payments, in my city where the gov nationalized all the big ones they are all in the same situation, and even when they dont pay they demand to you to work and work, if you dont work without payment is because you dont love the country, you are bad, you are part of a conspiracy, you work for the cia, you are an evil capitalist, blah blah blah, and of course, in a lot of that cases the gov solution is to take the other, and then is a chain over and over again.

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