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Wednesday, May 3, 2006 - 9:53amSanction this postReply
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Straight from the pages of Atlas Shrugged - Bolivia Nationalizes it's gas fields.

Bolivia's military seizure of natural gas fields and oil refineries helped drive the price of oil to a near-record Tuesday. The action fed worries that more nations will use energy resources as political weapons at a time of tight supplies and soaring prices.
Evo Morales, Bolivia's leftist president, sent soldiers to gas fields and refineries Monday. He declared the facilities nationalized and threatened to evict foreign energy companies unless they agreed to new gas and oil contracts that would give the Bolivian government control over production and a larger share of profits. It follows similar moves by Russia and Venezuela

http://www.freep.com/apps/pbcs.dll/article?AID=/20060503/NEWS07/605030450/1009


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Wednesday, May 3, 2006 - 10:20amSanction this postReply
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What should be done is what should have been done when the first thug country tried that back around the 70's - bomb the fields back to where they have to start over again.......


Post 2

Wednesday, May 3, 2006 - 11:55amSanction this postReply
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Where is Ellis Wyatt when you need him?

Is it time to light Wyatt's Torch?


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Post 3

Wednesday, May 3, 2006 - 12:10pmSanction this postReply
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That is why it is a joke to think of "big oil" as a danger when Exxon Mobile is small compared to the state-owned companies that have their own armies... I think we need our companies to join together and refuse to do business with these thugs.  The sad thing, too, is that this causes these countries to neglect true wealth and actually they get poorer as a result.  For example, the economies of a Taiwan or Hong Kong vs. Saudi Arabia with all the oil wealth.  In the former, the average citizen does well and the economy builds, in the latter a wealthy cabal holds power and keeps it by doling welfare handouts to the masses.  Perfect example of why welfare doesn't work, no matter how "rich" you may be.

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Thursday, May 4, 2006 - 9:26amSanction this postReply
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Very good point, Kurt.

Ed


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