"He said Monday that has decreed a law to proceed with the nationalizations that will see state oil company Petroleos de Venezuela SA, or PDVSA, taking at least a 60 percent stake in the projects.
"The privatization of oil in Venezuela has come to an end," he said on his weekday radio show, "Hello, President." "This marks the true nationalization of oil in Venezuela."
By May 1, "we will occupy these fields" and have the national flag flying on them, he said."
What do you think?
http://news.yahoo.com/s/ap/20070227/ap_on_re_la_am_ca/venezuela_oil_nationalization
2007-02-26 12:52:05 · 6 answers · asked by DAR 7 in Politics & Government ➔ Other - Politics & Government
It is safe to say that most industries in the country will be nationalized.. Nationalizing the oil industry will keep gasoline prices low for Venezuelans.. Venezuela is one of the largest oil producing nations in the world..
Venezuela has nationalization in the food industry...The food in supermarkets are set at low prices by the government so everyone will be able to afford food.. The downside is that the supermarkets can't make any money with these low prices so there are alot of foods not even stocked in the markets such as meat and sugar..
The US is against nationalization of oil because companies such as Exxon will have their oil fields in Venezuela taken away and may get very little money in return, maybe none..
2007-02-27 01:46:40 · answer #1 · answered by $ 2 · 1⤊ 0⤋
I have said over and over that Chavez has been modeling his power grab after Fidel Castro. Castro nationalized all important industry after he gained the power to do it.
2007-02-26 20:55:33 · answer #2 · answered by meathookcook 6 · 2⤊ 1⤋
Saw it coming from miles.
He adores Fidel and has sworn to have his own revolution after Cuba´s model.
2007-02-26 21:01:13 · answer #3 · answered by Camilo 3 · 1⤊ 1⤋
Chavez is a dangerous man. I never buy gas at Citgo stations because he owns them and all profits go directly into his pockets and help him to continue his dealings in the drug trade.
2007-02-26 20:59:08 · answer #4 · answered by Anonymous · 1⤊ 2⤋
hes a socialist, and thats the socailist M.O. no surprise to anybody.
2007-02-26 20:55:58 · answer #5 · answered by David B 6 · 1⤊ 1⤋
no
2007-02-26 20:57:27 · answer #6 · answered by Anonymous · 0⤊ 0⤋