Dance with Chavez and you take your risk
H/t to Kenny Solomon who is watching out on the world front while I am going after the EPA. 😀
Looks like Chavez is making a good recovery or is in remission cuz he is back to his old dictator self.
Many of the world’s most beautiful and luxurious destinations are in Third World countries or places who don’t like the U.S. very much. Do we want to go there? Yea, fate tempts us but reason should make us think twice cuz:
Chevron is dealing with an almost 20 year fight with socialism and a dictator in Ecuador. So are any of you guys surprised about this one? In Venezuela?
When you Dance with the Devil either one of two things will happen: you’ll make a lot of money and become immortal or you’ll get your eyebrows singed or worse. Such is the experience of ExxonMobil who has done business with the Devil in Venezuela whose name is Chavez. I won’t go into Chavez’ track record as a “Dictator for Life” but I am guessing that Exxon is ruing the day they did biz with him. Maybe not. Depends on how much they are paying the lawyers.
In a nutshell Exxon made a ton of money in Venezuela but then Chavez nationalized their oil project in 2007 along with a ton of others. Yea, Chavez offered to compensate ExxonMobil for their initial investment but then that is sort of like putting a lot of money in the stock market, earning a bunch and then having them say we won’t recognize your interest and dividends.
But so goes the way of banana republics. Just sayin’.
Yea, Chavez says he is gonna give the World Bank’s decision the bird on this:
I tell you now: we will not recognize any decision by ICSID, [International Center for Settlement of Investment Disputes]” Chavez said during a televised speech. He has repeatedly accused the U.S. oil major of using unfair deals in the past to “rob” the South American OPEC member of its resources.They are immoral … How much could they steal in 50 years? Who would dare launch this madness without any foundation? They wanted $12 billion. From where, compadre?” he said.
I still want to go to Santa Margarita island one day. About 10 miles off the coast of Venezuela. One of the most beautiful islands in the world I am told. Yea, you can see it from Aruba on a clear day and you need a Venezuelan visa to go there.
Crossposted at Conservative Outlooks