Wow...I had to read the 'subject' 4 times because my mind kept reading 'Venezuela' as 'vuvuzela' - As you can probably imagine, the rest of the subject made no sense.
On Thu, Jul 1, 2010 at 10:17 AM, Jerry Barnes <critic...@gmail.com> wrote: > > Venezuela has seized control of 11 oil rigs owned by Helmerich. > > The oil wells have been idle for a while. Helmerich turned them off because > the PDVSA (the state ran oil company) has not paid $43 million dollars for > work that Helmerich says it was owed. > > Venezuela countered that it should not owe that much since oil prices > unexpectedly collapsed two years ago. Basically, Venezuela doesn't have the > money to pay, contract be damned. > > Helmerich refused to renogatiate, so the take over was declared. Some > companies have accepted re-negotiations. They have managed to keep their > oil wells, at least for now. > > The action has been condemned by the US State Department. "We would just > call on them to--if they did make such a move--to compensate the owners of > those wells," said State Department spokesman Mark Toner. We'll see if this > hard-line approach means anything. > > It will be interesting to see if anything else happens. > > Since 2007 Caracas has nationalized companies in industries from oil to > utilities, to telecoms, cement, steel and banking. > > Article <http://online.wsj.com/article/BT-CO-20100625-712816.html> > > > J > > - > > Sometimes I wonder whether the world is being run by smart people who are > putting us on or by imbeciles who really mean it - Mark Twain > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology-Michael-Dinowitz/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:322388 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
