Friday, February 8, 2008

Petroleos de Venezuela SA bonds posted their biggest drop ever after Exxon Mobil Corp. won court orders

Petroleos de Venezuela SA bonds posted their biggest drop ever after Exxon Mobil Corp. won court orders in the U.S., U.K., the Netherlands and the Caribbean freezing more than $12 billion of the Venezuelan oil company's assets. Exxon Mobil sought the freeze on concern that the Venezuelan state oil company would shift assets to other nations to put them out of reach of an international arbitration commission. PDVSA, as the company is known, last year seized joint ventures it had with foreign energy companies as part of President Hugo Chavez's drive to increase government control of energy resources.

3 comments:

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  2. Corporations are nothing but global gangsters that use governments as their "hitmen" as we see here. People worldwide had better wise up and wake up-"Western" governments are not "for the people"-only for their own pocketbooks and power as they serve the corporate pimps-let them burn in hell!

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  3. The bolivarian government just has to keep its cool and hang tough -- and keep its eye on the prize. Not be panicked into retreating from the Revolution -- which is what this co-ordinated economic and psychological warfare is all about.

    This is all the imperialists really have in their arsenal now -- other than nekked violence. The bolivarian revolution simply must rely on the mass of the people on this. It has to keep them current on the machinations of imperialism, worldwide. The only real problem here is the bolivarian bureaucracy, which likely is as skittish -- and prone to giving away the store -- as any Third World nationalist elite. They cannot be allowed to do this.

    In fact, Venezuela is sitting pretty as regards most fundamentals. It is NOT at the mercy of imperialism, in fact. Far from it. In fact -- imperialism is itself the one doing all the panicking now.

    Hang tough. Take `em on.

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