Obama Unleashes Earthquake-Causing Death-Ray on Unsuspecting Haiti
Proving that running a country requires more balls than brains, ladies and gentlemen, I give you noted earth scientist and Venezuelan Capo for Life Hugo Chavez: Consider this an open thread.
Deadbeat Chavez Takes One From ACORN’s Playbook
In declaring squatter’s rights, maybe Uncle Hugo has heeded the advice of a certain former Community Organizer. On May 7, Venezuela’s National Assembly passed a law allowing the selective nationalization of oil service firms. On May 8, President Chavez exercised his newly minted authority and nationalized the assets of some 60 foreign-owned oil-service companies. Service companies are not the owners of reserves; Venezuela already stole | Read More »
Uncle Hugo Plays Hardball With U.S. Drilling Firm
The downturn in energy prices is putting a cash flow squeeze on all producers, including the national oil companies. Many of them made long-term commitments to use equipment at dayrates reflective of $140 oil. Now, with oil at $40/bbl, those commitments made a mere 6 months ago seem short-sighted. Petrosucre, a joint venture of Venezuela’s state-owned oil company PdVSA and Italian giant ENI, entered in | Read More »