Venezuela gives Exxon ultimatum

Venezuela has given the world's biggest oil company, ExxonMobil, until the end of this year to enter a joint venture with the state. Failure to do so will almost certainly result in Exxon losing its oil field concessions in the country.

Venezuela's socialist government has now signed new agreements with almost all foreign petroleum companies. After months of pressure from left- wing leader Hugo Chavez most foreign oil firms working there have caved in.

They have agreed to hand over a controlling stake of their oil interests to the Venezuelan state. This means that Venezuela, which has the world's largest petroleum reserves, now calls the shots in what the foreign guests can and cannot do. In addition, the companies which have signed the new contracts - such as Chevron, BP, Shell and Total - will in future be presented with much higher tax bills by the government.

Foreign unease

But Venezuela says it is only fair that the foreigners are made to pay up as they have got away lightly in the past. Much of the oil revenue in Venezuela goes into social projects in shanty towns and poor rural areas. But the US oil giant, ExxonMobil, is digging in its heels and is so far refusing to agree to the terms of the new deal. Exxon risks losing Venezuelan operations if it fails to comply.

http://news.bbc.co.uk/2/hi/americas/4544390.stm
http://www.vheadline.com/readnews.asp?id=47493

Show the Democrats here how a real leader of, by and for the people looks, sounds, and acts!

Show them that the people are in control, not ExxonMobile. They've got enough money and reserves elsewhere they can stew a bit and then beg to be allowed back in.

Way to go Venezuela. That's how you deal with these bastards.

Venezuela has a real leader. Our politicians in this country could sure learn a lot from Chavez.

Need the money for themselves,they can't worry their beautiful minds about people in shanty towns.Don't they know wealthy exxecs got that way by exxploitng poor people and stealing their resources?

We'll just add this to the list of pesky "details" the chimp has to attend to.

on this line from the story "Venezuela's socialist government . . ."

Last I checked, Venezuela was still participating the in the capitalist marketplace.

If, however, we can call them "Socialists," well, that's just one step from creeping commnism.

ExxonMobil thinks they can wait out Chavez until a crony capitalist retakes the leadership. That, or help him have an "accident." (nudge-nudge/wink-wink)

Just FYI. :)

First Cuba, now Venezuela, Brazil, and most recently Bolivia have shifted to the left. To bad for Dubya there's no Operation Condor to bail the US out this time around.

at all, but when it's used in the MSM, it's code for the mouthbreathers. It means "dangerous." It means "anti-American." It means "needs invading."

along and end up without any access to Venezuelas oil? LMFAO :rofl:

Fuck you, Mister Raymond.

Myabe he's hoping the CIA rubs out Mr. Chavez, engaging in prayer sessions with radical Mullah Pat Robertson.

Just what makes Venezuela a socialist government? Talk about out and out LIES. Venesuela is even more Democratic than the USA currently is...

That's what Chavez talks about.

Socialism and "democracy" are fully compatible. Indeed, Venezuela could amend its constitution to become a socialist state, in which social rights are enhanced, and that would be a democratic choice.

or at least "capitalist government" as well as the united states "right-wing leader"

:wow:

as if THEY own them. Well, they do.

Exxon/Mobil that if they continue their defiance of Chavez, the U.S. will either assassinate Chavez in a coup (remember how the CIA put Pinochet in power in Chile?) or simply conquer Venezuela.

Now of course we see the evil genius in the Big Oil/Big Automotive scheme that destroyed U.S. public transport -- especially electric-powered transport -- after World War II: by making the United States helplessly, hopelessly survival-dependent on the internal combustion engine and on petroleum (diesel-powered buses make up the vast majority of U.S. mass transit), the public is now forced to choose between supporting fascism (here again proven to be the ultimate expression of capitalism) or -- very literally -- facing starvation.

Which which may just be the final proof the U.S. has passed the point at which it can liberate itself from its oppressors.

CHAVEZ, DICTATOR, WMD, TERROR, 9/11, CASTRO
CHAVEZ, DICTATOR, WMD, TERROR, 9/11, CASTRO
CHAVEZ, DICTATOR, WMD, TERROR, 9/11, CASTRO
CHAVEZ, DICTATOR, WMD, TERROR, 9/11, CASTRO
CHAVEZ, DICTATOR, WMD, TERROR, 9/11, CASTRO
Hey, don't look behind the curtain!

They're destroying our profits!! Save our profits! Fight for freedom of oil executives (and me) to make trillions unchecked! Spread democracy to the peepul of Venezuela who can't have the wonderful freedom to be under the thumb of the oil companies!

Now the majority of South America leans socialist, like most of the rest of the world, at least those not controlled by American interests.

One must wonder "who's next"? How about us? Will the sheeple ever stop drinking the coolaid long enough to realize what's really in their interest?

Don't the Saudis have the the largest by far? What am I missing here?

Should read, "world's fifth largest..."

Traditional reserves are the 5th or something largest at 77 Billion barrels, If you include extra-heavy oil they stand as the biggest in the world at 250 Billion, that is why foreign companies are there to provide the tecnology needed to tap the extra heavy reserves efficiently. The goverment's goal is 5 million barrels a day up from 3 today.

Look at the timing Chavez gave them: till the end of the year. That's only about 1 week away. That's not a long time to make up their minds.

Prediction: they'll go along with it. They'll complain and moan. But without their revenue source, they're sunk. Last year, Chavez hit them with some pretty high taxes. I think around 17%. The oil companies bitched and complained, but they paid.

So I think they will go for it. But at the same time, they will be plotting his assassination. Don Rumsfailed is getting a phone call, right about now.:smoke:

So much oil wealth, so few legions with which to invade.

Kinda like the plot from Syriana, isn't it.

"There's TERRER there! We will be sending troops in to free the Venezuelan peepul from the clutches of the brutal dictator, Hugo Chavez!"

*sigh*

the $5 billion punitive damages for the Exxon Valdez oil spill yet in Prince William Sound. Ongoing appeals since 1999, I believe.

:rofl:

Nobody is perfect but it sure seems like he is honestly trying to get a fair shake for the poor people of his country whos natural resorces have been exployted by countries like ours for so long.

Hope Exxon looses everything. Would serve them right.