Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Venezuela slaps British oil giant BP with back-tax bill

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
 
icymist Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 02:01 PM
Original message
Venezuela slaps British oil giant BP with back-tax bill
Venezuela slaps British oil giant BP with back-tax bill
March 25, 2006

Caracas - Venezuela on Friday ordered British oil giant BP and one of its consortiums to pay $61.39 million in back taxes, the latest in a fiscal crackdown on mostly foreign energy companies.

A court earlier froze the accounts of Italian oil group Eni's local operations at the request of the tax authority Seniat, which is seeking $46.2 million in unpaid taxes for the period 2001-2004.

(snip)

Since mid-2005, the government of leftist President Hugo Chavez has strictly applied a 2001 law that increases the tax rate for oil companies to 50 percent from 36 percent.

(more)
http://www.busrep.co.za/index.php?fArticleId=3175036&fSectionId=552&fSetId=662
Printer Friendly | Permalink |  | Top
mdmc Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 02:03 PM
Response to Original message
1. Thats a pretty big bill to pay
:kick: / R
Printer Friendly | Permalink |  | Top
 
KAZ Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 02:28 PM
Response to Reply #1
3. Chump change for BP.
Around .5% of revenue for the period.
Printer Friendly | Permalink |  | Top
 
mdmc Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 02:31 PM
Response to Reply #3
5. in those terms, it is chump change
:kick:
Printer Friendly | Permalink |  | Top
 
Richard Steele Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 02:35 PM
Response to Reply #1
7. Not really. That's less than 29 hours worth of BP's '05 profits.
They made 19 Billion profit in 2005;
that's just about 2.17 million an HOUR.

And I bet their 06 profit is gonna be even higher, you know?
Printer Friendly | Permalink |  | Top
 
Peace Patriot Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 02:25 PM
Response to Original message
2. At least they don't call him a "self-styled leftist" (elected with a 60%
vote in the most highly monitored elections in the world).

Where is .za--Zaire?

This alone tells me they have better journalsim in .za than in the entire north American hemisphere (excepting Canada).
Printer Friendly | Permalink |  | Top
 
liam_laddie Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 02:34 PM
Response to Reply #2
6. .za = South Africa
Edited on Sat Mar-25-06 02:37 PM by liam_laddie
Link to country codes <http://www.web-l.com/country-codes/>

And a big shout-out to President Chavez for demanding that the
cash-rich fuckin' oil companies pay what they're s'posed to!
:toast:
Printer Friendly | Permalink |  | Top
 
cliss Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 02:29 PM
Response to Original message
4. This is getting interesting.
Hugo Chavez is tightening the thumbscrews. Last December, he gave the oil companies an ultimatum: become partially nationalized, or get out. I think 1 company left; I believe it was Exxon.

Oh, how they must be fuming right now. I wonder what Washington is doing about it. It must burn Rumsfailed to a crisp, knowing that U.S. DOLLARS are going into Chavez' tax coffers. But hey, it's fair trade!

Besides, the US is a little distracted right now, in the Middle East. As they say, "choose your battles". We can't fight 'em all.
Printer Friendly | Permalink |  | Top
 
Mind_your_head Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 02:51 PM
Response to Reply #4
9. The "Powers that Be" aren't going to be happy......
<snip>
The Business Origins of CIA Crimes

Although many people think that the CIA’s primary mission during the Cold War was to "deter communism," Noam Chomksy correctly points out that its real mission was "deterring democracy." From corrupting elections to overthrowing democratic governments, from assassinating elected leaders to installing murderous dictators, the CIA has virtually always replaced democracy with dictatorship. It didn’t help that the CIA was run by businessmen, whose hostility towards democracy is legendary. The reason they overthrew so many democracies is because the people usually voted for policies that multi-national corporations didn't like: land reform, strong labor unions, nationalization of their industries, and greater regulation protecting workers, consumers and the environment.

So the CIA’s greatest "successes" were usually more pro-corporate than anti-communist. Citing a communist threat, the CIA helped overthrow the democratically elected Mohammed Mussadegh government in Iran in 1953. But there was no communist threat — the Soviets stood back and watched the coup from afar. What really happened was that Mussadegh threatened to nationalize British and American oil companies in Iran. Consequently, the CIA and MI6 toppled Mussadegh and replaced him with a puppet government, headed by the Shah of Iran and his murderous secret police, SAVAK. The reason why the Ayatollah Khomeini and his revolutionaries took 52 Americans hostage in Tehran in 1979 was because the CIA had helped SAVAK torture and murder their people.

Another "success" was the CIA’s overthrow of the democratically elected government of Jacabo Arbenz in Guatemala in 1954. Again, there was no communist threat. The real threat was to Guatemala’s United Fruit Company, a Rockefeller-owned firm whose stockholders included CIA Director Allen Dulles. Arbenz threatened to nationalize the company, albeit with generous compensation. In response, the CIA initiated a coup that overthrew Arbenz and installed the murderous dictator Castillo Armas. For four decades, CIA-backed dicatators would torture and murder hundreds of thousands of leftists, union members and others who would fight for a more equitable distribution of the country’s resources.

Another "success" story was Chile. In 1973, the country’s democratically elected leader, Salvadore Allende, nationalized foreign-owned interests, like Chile’s lucrative copper mines and telephone system. International Telephone & Telegraph (ITT) offered the CIA $1 million to overthrow Allende — which the CIA allegedly refused — but paid $350,000 to his political opponents. The CIA responded with a coup that murdered Allende and replaced him with a brutal tyrant, General Augusto Pinochet. Pinochet tortured and murdered thousands of leftists, union members and political opponents as economists trained at the University of Chicago under Milton Friedman installed a "free market" economy. Since then, income inequality has soared higher in Chile than anywhere else in Latin America.
<snip>

http://home.att.net/~resurgence/L-overclass.html

:scared: :scared:
Printer Friendly | Permalink |  | Top
 
acmavm Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 02:58 PM
Response to Reply #9
10. I can't see the CIA or any American group having the ability to overthrow
any government in South or Central America anymore. The people wouldn't (haven't been in relation to Venezuela) stand for it.
Printer Friendly | Permalink |  | Top
 
Mind_your_head Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 03:04 PM
Response to Reply #10
11. I really don't know......
Edited on Sat Mar-25-06 03:07 PM by Mind_your_head
I just read this piece the other day, so when I saw this post/comment, I just thought I would put this 'bit of info/history' out there for smarter minds than mine to consider.

Peace

added a word for clarity
Printer Friendly | Permalink |  | Top
 
cliss Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 03:27 PM
Response to Reply #10
12. It makes you wonder....WHY aren't
they overthrowing governments down there? I've been reading that country after country in Central & South America is turning "left" or "progressive". And the US just reports on it. I mean, aren't they getting worried?

I've read that

a) the Bush administration is so preoccupied and obsessed with Iraq, Afghanistan & the Middle East that they have no time for other countries. So they've democratized by default.

b) the Bush Administration is completely inept. The entire foreign policy is being run by just a handful of people. Now if Rumsfailed is involved, I can believe it. He couldn't find his way out of a paper bag.

Maybe it's a combination of the two; I don't know.
Printer Friendly | Permalink |  | Top
 
acmavm Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 05:39 PM
Response to Reply #12
13. Most certainly a combination of both. We have no intelligence services
with any capabilities OR credibility anymore. The loss of any credibility was just one of the many important (but not the least by any means) all of our government agencies (domestic and foreign) lost because of this bunch of crooks.

And then quite like way the American people were empowered in the 70's, the people of Latin and Central America are taking back their governments and taking back control from a few corporate entities and wealthy elites. And this is what the bush** administration can best be remembered for in those countries. Their (CIA, etc.) manipulations forced the people to stand up to the bullies, and to fight to take control of their countries (both in the streets and at the polling places) while making sure that the people who have historically manipulated their governments are shut out, having no influence over events and policies.

Printer Friendly | Permalink |  | Top
 
Jim Sagle Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-26-06 01:45 AM
Response to Reply #13
20. We can learn from them.
Printer Friendly | Permalink |  | Top
 
killbotfactory Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 05:44 PM
Response to Reply #12
14. Well, they tried in 2002
And failed. The people down there have apparently become wise to our little "games", and would have none of it.
Printer Friendly | Permalink |  | Top
 
goforit Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 07:38 PM
Response to Reply #12
16. You wonder why? I'll tell you why, Bush +(Sr.) have foolish bully tactics
Prior to Bush W coming to power, the US had a stronghold on
South America as well as Venezuela. We had many top intel down
in those neck of the woods.
But, Bush and his daddy wanted more....anialation of Chavez that totally
backfired, more than once. Now all our intel has been exposed.

This has only empowered Chavez and the neighboring countries to
rally against us. Basically, Bully style foriegn policy = stupidity!!!

Yah notice how quickly Chavez reacts to Bush/Cheney manuvering?

What is most fascinating of all.... is how Chavez is truely using
Bill Clinton style philosophies against George W. Bush's policies.

Who's winning?

You decide.
I know who is.

Mind you, you think Bush is very preoccupied with the Middle East,
but Rumsfeld is quietly preoccupied with Latin America!!!
Garranteed.
Printer Friendly | Permalink |  | Top
 
Theduckno2 Donating Member (905 posts) Send PM | Profile | Ignore Sat Mar-25-06 10:41 PM
Response to Reply #12
18. Maybe nothing succeeds like success.
I am sure that Bushco expected Iraq to be an overwhelming success. Didn't Bushco state something like: the road to peace between the Israelis and Palestinians went through Baghdad? Their stategy appears to have included 'domino theory' at its core. One success would invariably lead to the next and after a few Middle East successes even Central/South America would realize that resistance was futile. Bushco just didn't count on its own ineptness and now realizes that its entire legacy rests on future of Iraq.
Printer Friendly | Permalink |  | Top
 
Judi Lynn Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 07:07 PM
Response to Reply #9
15. This is one of the most worthwhile articles I've ever seen posted here,
Mind_your_head.

I moved to save it for my files long before I got to the end of it. My gosh. Thank you so much.

Printer Friendly | Permalink |  | Top
 
Mind_your_head Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 10:19 PM
Response to Reply #15
17. The credit should go to LiberalUprising
he/she started a thread last Thursday with a different section from the article, which caused me to read the whole thing. His thread is here:

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=364&topic_id=739849

I'm glad you liked it, I did as well (obviously). The really good articles, like this one (14 pages), I print out on paper and save in a file...I guess it's old fashioned, but my paper files never 'crash' and they're always 'there' when I want to look at them again - they never fall down the 'memory hole'. :-)

Printer Friendly | Permalink |  | Top
 
cliss Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 11:38 PM
Response to Reply #17
19. That was a dynamite article, Mind.
About 6 months ago, I read a puzzling article on Counter Punch. The author was puzzled, too. (I just tried searching for it, couldn't locate the article).

The author couldn't understand why the U.S. was being an outrageous risk-taker when it came to negotiations. US teams were taking a "go for broke" attitude. They took extreme stances when it came to negotiating fairly cut-and-dried agreements. Naturally, they lost many of these agreements, and had to come home empty-handed. The author couldn't understand why they would do that.

......now we come to your article, the last section...

It doesn't win all the time, of course — witness Bill Clinton's impeachment trial — but it does score an endless string of other victories elsewhere, all to the detriment of workers, consumers, women, minorities and the poor. We need to fight it with everything we've got.

There you have it. I just connected the dots and solved the mystery.
Printer Friendly | Permalink |  | Top
 
Jamison Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-25-06 02:45 PM
Response to Original message
8. Nice job Hugo, make 'em pay up!
They enjoyed record profit last year, so they can afford it.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Thu Dec 26th 2024, 05:57 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC