This question is way out of my league...I just want the opinions of those here who might know what is going on?..please some honest rational answers for a rational question.
The question that would follow is..does this lead the oil companies to bribe officials, princes or politicians to keep their business in those countries?
2006-12-17 23:15:47 · 9 answers · asked by Tabor 4 in Politics & Government ➔ Other - Politics & Government
Dr Dee I just read a bit of news about this in Russia...oil company kicked out...invested billions in a project. government says get out we claim the project you put all the money into...this business practice sounds dangerous.
2006-12-18 00:58:19 · update #1
"Oil drilling is a gamble" and oil companies know this.
When a country claims to have oil they "tender" the site i.e. put it up for auction. The winning Oil Company "signs a contract". This contract can say the "country" gets 30% of every barrel sold plus an initial $1 Billion fee. These contracts usually have clauses i.e. if after 6 months you havent found any oil you get out and let the next company try.
More than likely this is the case or the oil company can sue the *** of that country for breaking contract
Yes its a known fact that corruption is everywhere, especially with Govt officials & especially so, where oil is involved
FOOD FOR THOUGHT: Saudi Arabia has 25% of the worlds oil reserves - where would America or its Army be without oil - why did America really liberate Saudi Arabia from Iraq - why did America really hunt down Saddam Husein
2006-12-17 23:21:30 · answer #1 · answered by Truth D 4 · 1⤊ 0⤋
>>> does this lead the oil companies to bribe officials, princes or politicians to keep their business in those countries?
In my opinion, this is possible - briberies and all. What is scary is....will the government take over and do some illegal or perhaps harmful stuff with the oil at the expense of others (us)?
2006-12-18 07:32:39 · answer #2 · answered by MyQute 3 · 1⤊ 0⤋
This has happened to companies before. Although it wasn't oil companies, it happened in Cuba. The government took over the companies and kicked them out of the country. Sure oil companies would probably pay a lot of bribes to try to prevent this.
2006-12-18 07:25:58 · answer #3 · answered by redunicorn 7 · 0⤊ 0⤋
The assets would be written off, resulting in a large loss. Bribery, even of foreign officials, is unlawful.
2006-12-18 07:25:16 · answer #4 · answered by Anonymous · 0⤊ 0⤋
They won't be able to drill in the USA and won't get the Billions in tax break
The would have to pay to sell in the USA
2006-12-18 07:21:19 · answer #5 · answered by taco 2 · 0⤊ 0⤋
an oil company never kicked from any arab states. see sadam hussain what americans did to him and see talibans as they didnt allow amerfican company to work there
2006-12-18 08:49:59 · answer #6 · answered by Eccentric 7 · 0⤊ 0⤋
The only logical thing that can happen:
Recover their losses from other operations.
If this was their only venture.....then you
know the answer to that.
2006-12-18 07:52:02 · answer #7 · answered by dorianalways 4 · 1⤊ 0⤋
Coup d'etat
2006-12-18 09:13:07 · answer #8 · answered by Tawani 3 · 0⤊ 0⤋
Haven't seen it happening.
2006-12-18 07:17:23 · answer #9 · answered by Dr Dee 7 · 0⤊ 0⤋