http://www.boston.com/news/world/latinamerica/articles/2007/01/14/honduras_temporarily_grabs_exxon_chevron_terminals/ Honduras will take temporary control of foreign-owned oil storage terminals as part of a government import program meant to drive down fuel prices, President Manuel Zelaya said late on Saturday.
Zelaya ordered the move after failing to reach a deal with big oil companies Exxon Mobil <XOM.N> and Chevron <CVX.N>, as well as local company DIPPSA, to rent the terminals.
"It is not a nationalization, it's a temporary use of the storage tanks through a lease and payment of a reasonable price," he said.
Honduras produces no crude of its own and no longer has a refinery. Its fuel market, like that of most Central American countries, is dominated by Shell <RDSa.L>, Exxon Mobil and Chevron.
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A congressional commission set up to study the new system has said it could save Honduras -- one of the poorest countries in the Western Hemisphere -- about $66 million a year.
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more power to them