Venezuela to Nationalize US OIL rigs

[homeless]

Chavez Nationalizing U.S. Oil Rigs | The FOX Nation

I am sure that I am not the only one that has been trying to keep up with this situation. This isn't the first time that Hugo has threatened this, but it seems as if this might end up going through. Other companies like BP have caved to Chavez in the past, but Helmerich and Payne are taking a stand. I would love to see them blow the rigs before handing them over, but I some how doubt that is going to happen.


A bigger question is, Since Oil rigs are treated as Ships under maritime law, if they were US flagged and registered; would nationalizing them be an act of war? If so shouldn't we be sending a carrier group or MEU to South America? Not that Great Leader would never go after his good buddy Hugo.

 

[Panama]

Obama will not do a damn thing about it.
I mean after all, I think Chavez is one of his hero's, along with Mao, and Castro.

 

[homeless]

Well of course he wont. But the pressing issue is SHOULD we be doing something about this.


Now I don't know what flags or registration are on these rigs, but if they are flying the Stars and Stripes, wouldn't this be piracy. And State supported Piracy is an act of war.

 

[downzero]

This actually isn't the first time this has happened in Latin America.

I don't know why any American company would do business there. This has been happening for a century.

 

[jbombelli]

This actually isn't the first time this has happened in Latin America.

I don't know why any American company would do business there. This has been happening for a century.

This.

Expropriation is a popular thing in Latin America when it comes to American-owned industry. It's been going on for a long time.

I would not take the risk of investing in Latin America myself. And if I owned those rigs, I would scuttle them and send them to the bottom of the ocean before I let Chavez have them. I might even be tempted to wait until he had crews on them before blowing them up.

 

[Ogre]

This actually isn't the first time this has happened in Latin America.

I don't know why any American company would do business there. This has been happening for a century.

This... If you lay down with Venezuelan dogs, you will get venezuelen fleas

 

[downzero]

This... If you lay down with Venezuelan dogs, you will get venezuelen fleas

This isn't exclusive to Venezuela. It has happened in Brazil, Argentina, Chile, and others just to name a few.

 

[jbombelli]

This isn't exclusive to Venezuela. It has happened in Brazil, Argentina, Chile, and others just to name a few.

Yup. Most people in this country have no idea. Ask them about United Fruit Company and the CIA and they'll scratch their heads and say "who?"

It's unfortunate, but that's the way it is.

But expropriation is the risk you take when you invest billions in a third world country building an industry.

 

[downzero]

Yup. Most people in this country have no idea. Ask them about United Fruit Company and the CIA and they'll scratch their heads and say "who?"

It's unfortunate, but that's the way it is.

I had a good teacher. I actually had him for International Economics and a course on Latin American Economies.

Werner Baer - Wikipedia, the free encyclopedia

Others aren't so lucky.

 

[5.56'aholic]

welcome to the NWO

 

[downzero]

Oops, wrong thread.