Reuters: Venezuela says will nationalize whole energy sector

[Eugene]

Venezuela says will nationalize whole energy sector

By Christian Oliver

1 hour, 21 minutes ago

CARACAS (Reuters) - Venezuelan President Hugo Chavez said on Saturday the country's
entire energy sector had to be nationalized, reinforcing his socialist revolution and
possibly giving himself more targets for state takeover.

But he said he would permit foreign firms to hold minority stakes in energy deals.

The anti-U.S. leader, in power since 1999, announced this week he would nationalize
power utilities and the country's biggest telecommunications firm, confirming his status
as the catalyst of Latin America's swing to the left.

"We have decided to nationalize the whole Venezuelan energy and electricity sector,
all of it, absolutely all," Chavez said in his annual state of the nation address to
parliament, potentially opening up more projects for state acquisition in the No. 4
crude exporter to the United States.

-snip-

Full article: http://news.yahoo.com/s/nm/20070114/wl_nm/venezuela_dc

[BayCityProgressive]

1. viva Chavez

this needs to be done here.

[Wilma5]

2. Good idea

Sounds like a good idea. Should also be done in the USA and every other place as well. Break up the oil company monopolies like we originally did. They have become too greedy, powerful, and arrogant. Natural resources belong to the people. Why are we punished with an embarrassing moron like Bush? We would be blessed to have Chavez as our president.

[newyawker99]

7. Hi Wilma5!!

Welcome to DU!! :toast:

[Selatius]

3. We privatized the energy sector here in the US. We ended up with Enron and the NYC blackout.

We put profit ahead of service to the people. Just look at Exxon-Mobil.

[TahitiNut]

4. How could any nation allow its NATIONAL SECURITY to be in private hands?

Oh. Wait. Ours is. :eyes:

Who would argue that energy and its distribution is the single most critical component of our entire national infrastructure? How can we let an entire nation of 300,000,000 people be at risk to a few private companies with significant foreign ownership?

:evilgrin:

I say "Nationalize energy!" Compensate the owners at the book value of the corporate assets. (Fuck the totally mythical 'market price.')

[Robbien]

5. Poor Iraq. The bigoil robber barons are seizing Iraqi oil while Venezuela

is finally taking back control of their assets.

Wonder how many years it will be before Iraq gets a leader who will fight the bigoil robber barons to regain their oil/energy rights.

[The Backlash Cometh]

6. When resources are limited, it's the only way to go.

Reasonable people will make sure the public is protected from exploitation wherever diminishing resources are involved.

[ShaneGR]

8. Where would the revolution be if the leaders werent lining their pockets?

It's really hard to get rich if you don't control the companies yourself. When he changes the constitution to give himself a third term, and a fourth, and a fifth its no big deal! You know, the people support him by 60%. Why didnt Bush make the same changes when he was at 80%? Silly Bush, l2dictator.

[Gabi Hayes]

9. hey, friend, call us when you get back from the Oort Cloud

will ya?

and put down your Otto Reich quotebook while you're at it, please

jesus

[Vidar]

10. Good for Chavez. Hope he jails some of the corporate swine as well.

[leftchick]

11. "anti-US leader"

he is anti-bush. big diff but then this is the AP. :eyes:



Viva Chavez!

[hack89]

12. Is it possible to expand oil production without private investment..

and expertise? I understand that Iran's oil sector is declining because the lack of foreign investment has led to an aging infrastructure and lack of new exploration. Has any major oil producing country ever done what Chavez is trying? Can this work in a global oil market?