I had the exact same problem, Scott. On Thu, Jul 1, 2010 at 7:19 AM, Scott Stroz <boyz...@gmail.com> wrote: > > 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 >> >> >> > >
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