At this point, you have to wonder who in their right mind will ever do business in Venezuela again as long as Chavez is in power. The risk that Chavez will steal your property is […]
Tag: Citgo
I’m in the Wrong Business
Update: As Maury pointed out in the comments, Chavez has reconsidered: Venezuelan-owned Citgo Petroleum, which had earlier indicated it might end a home heating oil assistance program for low-income Americans, yesterday said it had decided […]
Attempting the Impossible
I ran across the following today: Our view on gasoline prices: With crude at $100 a barrel, Big Oil needs no tax breaks It’s difficult — make that impossible — to justify taxpayer subsidies for […]
Exxon Freezes Venezuelan Assets
This came as a surprise to me: Exxon wins freeze on $12 billion of Venezuelan assets NEW YORK (Reuters) – Exxon Mobil Corp has won court orders freezing up to $12 billion in Venezuelan assets […]
Chavez Had Me Fooled
It seems I have been wrong about Hugo Chavez. I had thought the man didn’t have a clue about the oil business. While companies like ConocoPhillips were pulling in $15.5 billion profits*, they were investing […]
Expropriating Venezuela’s Refineries
You heard it here first. Two months ago, I wrote Let’s Confiscate Venezuela’s U.S. Refineries. Looks like I may not have been too far off the mark, as others have started thinking along the same […]
Let’s Confiscate Venezuela’s U.S. Refineries
I recall reading this story a while back: Chavez Considers Sale of U.S. Refineries The implications just sank in today. Chavez, having confiscated the property of U.S. companies and torn up contracts, has property here […]