The 11 oil rigs, which have idled due to non payment by the Venezuelan state owned oil companies are now to be nationalized (read as seized).
Looks like Haliburton and BP have resources there as well.
With this Chavez will have seized almost all the Venezuelan oil industry.
Not really surprised but Im curious to see how far this guy can go before someone bloodies his nose.
We know he hates Columbia due to a US presence but he is also apparently pissing off Brazil as well. Not a good move as Brazil is the best trained and equipped military in South America.
incoming US 'liberation' in 3...2...1...
I'm actually surprised he didn't do this a long time ago.
[COLOR="Black"]That's always a big risk when investing lots of money into an unstable country.
I believe nationalization without compensation is against international law. Maybe it is time to slap some sanctions on Venezuela. [/COLOR]