In a final takeover of the 39 oil service providers in Venezuela, President Chavez has used troops to take control of operation, and seize possession of all Venezuelan oil institutions, their documentation, and all of the goods and equipment.
In other words, since the nationalization of oil wasn't going smoothly, he made sure the government took control by force.
Barack Obama, are you watching your good buddy? Getting any tips?
This move by Hugo Chavez comes as a result of the May 7 law passed by Venezuela's National Assembly which declares that all oil operations are now state owned.
Shortly after the law's passage the government announced that private contractors servicing wells would be nationalized.
Chavez decided to recover assets to the state, and by force if need be, which is exactly what happened.
-- Political Pistachio Conservative News and Commentary
Venezuela expropriates 39 oil service firms - AFP
No comments:
Post a Comment