Steven Ward

Will Brazil Really Nationalize Oil?

To Social: Can't let Brazil be. Why? They are holding American money investments that they asked for us to do.

President Lula da Silva gave Bloomberg News a HALF HOUR INTERVIEW and it is clear that they are going to change the rules that are currently in place. Rules that wanted outside investment.

No big deal though. All the big oil companies are flocking to Libya even though the Libyans are demanding 85 to 90 percent of the take. That hasn;t stopped the likes of BP and Oxy and XOM from wanting a piece of the action. At least the Libyans have been upfront in what they want before companies spend money for exploration.

Will Brazil Really Nationalize Oil?

Just because it doesn't make any economic sense doesn't mean Brazil won't do it. Poilitics trumps rational thought. Brazilprobably will let infrastructure be builtout and then whack everybody.

The US should do the same to countries who confiscate US properties. Chavez has 4 newly upgraded refineries here in the US, give them to XOM, Chevron etc.

If Brazil whacks US explorers then tax the bees wax out of Petrobras holdings as a "nationalization global trend", when the Brazilians complain.