Venezuela: Details On Draft Of Hydrocarbon Protection Law November 22, 2010Gee, sounds like a modified Cap and Tax program...basically the government directs what you can produce and if needed seizes your assets in the public interest. I guess "Live, Liberty and Property" doesn't mean much down there..unlike US...right?
The current draft of Venezuela’s National Hydrocarbon Sector Protection Law will allow the government to occupy or seize the assets of oil and natural gas firms if there is the possibility that production may be halted, El Universal reported Nov. 22. In addition, the government can unilaterally declare any necessary “protection methods.” Under the legislation, the expropriation of assets will be necessary if “reasons of social or public utility” are given or if there is a need to “secure the continuity of oil and natural gas operations.” The government may also prevent firms from moving assets to different entities if deemed necessary.
Police Work, Politics and World Affairs, Football and the ongoing search for great Scotch Whiskey!
Wednesday, December 1, 2010
OK...why is it Hugo Chavez is interested in Global Cooling...err Global Warming...err Climate Change....dammit ALGORE, what are you calling it now.
From a report from STRATFOR.COM earlier this week.
Labels:
ALGORE,
Global Warming,
Politics
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