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Reply to "How does taking the oil work?"
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[quote=Anonymous]Trump and the people around him do not understand how the rest of the world works. The US grants private ownership of minerals rights through property rights. Though the US owns the minerals rights on public lands. In the rest of the world minerals rights are owned by state. The state and oil companies work out deals to develop the assets but the state always retains the mineral rights. So when nationalization is done the state is taking the infrastructure. The states pays fair market price for the infrastructure. The oil(the thing of value) is not part of this because the state never gives up its ownership. The claim that Venezuela took “our” oil is total BS. It has always been Venezuela’s oil. Oh and Saudi, Libya, Mexico, all OPEC members, etc have nationalized their oil production. Are we going to take that “back” too? [/quote]
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