The powers Chavez has wanted for so long have finally been granted to him: the power to legislate by decree.
Now Chavez has a free hand to bring under state control the oil and natural gas projects still run by private companies in Venezuela. Chavez has said companies upgrading heavy oil in the Orinoco River basin — British Petroleum PLC, Exxon Mobil Corp., Chevron Corp., ConocoPhillips Co., Total SA and Statoil ASA — must submit to state-controlled joint ventures. The new law enables Chavez to unilaterally "regulate" this transition if companies don't agree to the new framework within an unspecified "peremptory period."
In short, Chavez gains free rein in Venezuela.
Now Chavez has a free hand to bring under state control the oil and natural gas projects still run by private companies in Venezuela. Chavez has said companies upgrading heavy oil in the Orinoco River basin — British Petroleum PLC, Exxon Mobil Corp., Chevron Corp., ConocoPhillips Co., Total SA and Statoil ASA — must submit to state-controlled joint ventures. The new law enables Chavez to unilaterally "regulate" this transition if companies don't agree to the new framework within an unspecified "peremptory period."
In short, Chavez gains free rein in Venezuela.
1 comment:
March 01, 2007***Snake Hunters
With your permission, we would like
to re-print your article on the
"New Dictator Chavez, Feb 01" in our Open Forum Comment Section. Or, you may choose to do it
for us for some additional exposure.
Cheers! reb
www.lazyonebenn.blogspot.com
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