Reply to How does taking the oil work?

Forum Index » Political Discussion

Reply to "How does taking the oil work?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Meh.

Chavez took power and then he “took” everything.  It’s called nationalization.  Chavez
nationalized all sorts of things, including the lawful possessions of multinational petroleum companies.

Trump is simply de-nationalizing things.[/quote]

What you have stated is against the law and total bullsh#t.

UN Resolution 1803 (1962): Explicitly recognizes the right of nations to permanent sovereignty over their natural wealth.
Sovereign Right: International law considers the power to nationalize an inherent attribute of a state's sovereignty.

Venezuela did everything legal. ICSID (International Centre for Settlement of Investment Disputes): Exxon initiated arbitration here after Venezuela nationalized its Orinoco Belt assets, with ICSID tribunals awarding Exxon significant compensation, including a $1.6 billion award in 2014.
ICC (International Chamber of Commerce): Another arbitration through the ICC also resulted in rulings, with an initial award of $255 million in favor of Exxon in 2012, a portion of what they sought.

[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics