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Venezuela will nationalize a fleet of 11 oil rigs belonging to Helmerich and Payne (HP -2.5%),...

Venezuela will nationalize a fleet of 11 oil rigs belonging to Helmerich and Payne (HP -2.5%), in Hugo Chavez's latest takeover. The rigs had already been idled for months following a payment dispute.
Comments (6)
  • The prequel to US policy.
    24 Jun 2010, 11:01 AM Reply Like
  • from the linked article: [Chavez has kept pressure up on the private sector in recent months, blaming a "parasitic bourgeoisie" for Venezuela's recession and 30 percent annualized inflation.]

     

    Note Chavez has not tangled with Halliburton nor Schlumberger because those 'parasitic bourgeoisie' are armed and dangerous.
    24 Jun 2010, 11:17 AM Reply Like
  • He's been taking over everything, because Chavez and his people can not afford to pay for things so they must steal. As our debt rises our government will be forced to do the same thing.
    24 Jun 2010, 12:40 PM Reply Like
  • Time for Hugo to go to hell with the rest of his buddies, Marx,Mao,Hitler and all the other asshole of history who had a bigger sense of their own importance than reality. Hey Hugo, I pray the "PEOPLE" rise up and tear you apart,literally....
    Jerry
    24 Jun 2010, 12:51 PM Reply Like
  • Amen to Jerry369's comment!
    24 Jun 2010, 01:28 PM Reply Like
  • That would be nice but look at what happened in Iran when the people tried to rise up against corruption. And Chavez has already been stifling dissent.
    24 Jun 2010, 06:49 PM Reply Like
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