John-Galt

Brazil's Oil Power Grab Could Hit Petrobras

It is difficult enough to assess the political risks of investing in the USA right now, and I live here. We have already seen two major "confiscations" in the name of stability. BSC and FNM/FRE. What the Bush cronies are doing is no better than Venezuela, Russia, and maybe Brazil. Long term investors need to figure out where to invest when capital becomes at risk by being big and successful. An Obama win means that oil companies are at risk. Make no mistake that an excess profits tax is to no better than confiscation, just wearing different clothing. And a McCain win will screw you too, as the Bush doctrines get embedded in govt until no one is safe. Maybe Brazil is not so bad. But Ayn Rand had it right over 60 years ago.