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david gibson
06-30-2010, 10:02 AM
11 rigs is no pile of old beans. why is this not theft? if there was lien for taxes i could understand it, but all it says is "the US firm declined to negotiate a new service contract, unlike 32 other foreign firms. "



http://www.breitbart.com/article.php?id=CNG.939483e305b1ba22fc2cd72e1641a9c 0.5b1&show_article=1

Roger Perry
06-30-2010, 10:58 AM
11 rigs is no pile of old beans. why is this not theft? if there was lien for taxes i could understand it, but all it says is "the US firm declined to negotiate a new service contract, unlike 32 other foreign firms. "



http://www.breitbart.com/article.php?id=CNG.939483e305b1ba22fc2cd72e1641a9c 0.5b1&show_article=1

My guess is that we could sue them in a Venezuelian court of law:rolleyes::rolleyes::rolleyes:

Leddyman
06-30-2010, 03:22 PM
Obama looks at that and thinks..."I wish I could do that". Oh wait...he already did it to BP.

Robbery is the tool of tyrants.

20 billion slush fund regards,

dnf777
06-30-2010, 03:56 PM
Obama looks at that and thinks..."I wish I could do that". Oh wait...he already did it to BP.

Robbery is the tool of tyrants.

20 billion slush fund regards,

For cryin' out loud! If your job was lost, you'd be in line demanding just compensation. Nobody is getting handouts, nobody nationalized or stole anything. If I rear-ended you in my car, would you be "robbing" me if I paid you for the damages?

As for Venezuela, it all depends on what the original contracts say. Some leases include a transfer of ownership after a set amount of time if new terms aren't agreed upon.

road kill
06-30-2010, 04:46 PM
11 rigs is no pile of old beans. why is this not theft? if there was lien for taxes i could understand it, but all it says is "the US firm declined to negotiate a new service contract, unlike 32 other foreign firms. "



http://www.breitbart.com/article.php?id=CNG.939483e305b1ba22fc2cd72e1641a9c 0.5b1&show_article=1

To me this is an act of piracy.

But didn't Obama already apologize to the Goof Nutz in charge......Chavez??



rk:D

road kill
06-30-2010, 04:48 PM
My guess is that we could sue them in a Venezuelian court of law:rolleyes::rolleyes::rolleyes:

Probably be "straighter" than what we get here now.

(no pun intended on the "straighter" part!!)


rk:D

caryalsobrook
06-30-2010, 09:16 PM
For cryin' out loud! If your job was lost, you'd be in line demanding just compensation. Nobody is getting handouts, nobody nationalized or stole anything. If I rear-ended you in my car, would you be "robbing" me if I paid you for the damages?

As for Venezuela, it all depends on what the original contracts say. Some leases include a transfer of ownership after a set amount of time if new terms aren't agreed upon.

Do you believe an expiration of the contract with a transfer of ownership are the circunsances involved?? Give me a break!!!!

Marvin S
06-30-2010, 09:32 PM
Do you believe an expiration of the contract with a transfer of ownership are the circunsances involved?? Give me a break!!!!

This is common in the extractive industries. We were taught how to figure the political risk in evaluating mines, oil would be no different. In a risky country if a company are not clearing 25% or more per year that company has put themselves on the short end.

Chile nationalized all the Cu mines, Anaconda Copper went from $50 to $12 immediately. The compensation was so meager that Anaconda sold out to Arco, now BP. Arco, now BP, ended up being responsible monetarily for the Anaconda-Butte cleanup, though a lot of others shared in the prosperity of Butte's glory days.

dnf777
06-30-2010, 09:42 PM
Do you believe an expiration of the contract with a transfer of ownership are the circunsances involved?? Give me a break!!!!

I have no idea. I do know these type arrangements are not unheard of. A company I worked for had a private plane and wanted their own hanger at the airport. The long-standing policy was the county would lease the ground, the company would build the hanger, and after the term was up, (12 years) they either had to renew, or forfeit the hanger to the county. I could easily see a similar arrangement for wells in someone else's waters? Just a thought, to possibly explain what sounds pretty extraordinary otherwise.

subroc
07-01-2010, 06:32 AM
it isn't considered theft, it is theft. that said, it requires the power and might of a nation to right such wrongs. is it in the national interest to right such wrongs?

road kill
07-01-2010, 06:57 AM
it isn't considered theft, it is theft. that said, it requires the power and might of a nation to right such wrongs. is it in the national interest to right such wrongs?

Which nation??

The USA??

The Obamanation??




rk:D