Venezuela seizes more oil facilities

It’s a classic Venezuelan story: the state oil company stops paying oil contractors, so the oil contractors stop operating their facilities, so the government steps in to seize the contractors and their assets.  It seems that the usual process for Chavez to confiscate private property was too time consuming, so he instituted a new process whereby he can confiscate property instantly.

I hope Chavez is happy with the oil facilities he has, because he’s ensuring that he’ll never have any more.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s