A huge offshore oil discovery could raise Brazil’s petroleum reserves by a whopping 40 percent and boost this country into the ranks of the world’s major exporters, officials said.
Fausta correctly ascertains that this sucks for Chavez.
A huge offshore oil discovery could raise Brazil’s petroleum reserves by a whopping 40 percent and boost this country into the ranks of the world’s major exporters, officials said.
Fausta correctly ascertains that this sucks for Chavez.
To double damn Chavez, the nationalization of oil infrastructure that belonged to private investment didn’t win him many friends outside of his country in the oil industry. As the fields that he has age and the machinery that he equips them with ages, he’ll find that the cost of repair and resupply is going to go up substancially and that he can expect to be paying for a lot of those things up front.
Additionally, in cases where propritary hardware or software was being used by a priavte company, he can expect to get reamed when it breaks down and he has to turn to the originator to fix it. The way that he violated contracts and seized assets is going to progressively cost him more as it becomes more appearent that the technical apsects of exploration, refinement and trasportation were mostly handed by now disenfranchised companies.
Chavez better enjoy his day in the sun now, because when winter gets here he’s gonna pay big.
Rob B – By the time that starts happening, Chavez will have squandered or stolen all of the people’s money.
Am I the only one who would maybe feel a twinge of disappointment if Hugo keeled over dead tomorrow? You just don’t get object lessons handed to you like this every day really.