thevicenarian.com

Exxon Vs. Venezuela, Round 2

Posted by T.W. Hanson - Mar 18th, 2008 at 20:03

So you are the world’s largest company and operate oil wells around the globe. You wake up one morning, and you are told that your $5 billion investment is no longer yours. Apparently, Venezuela has decided to take away your oil assets in their region. Fortunately for you, the financial wherewithals of the two parties are about equal. They have a military, but I hear Blackwater is available for hire.

Step 1: Sue them everywhere in the world.

In January, Exxon won rulings from courts in London and elsewhere freezing Venezuelan assets around the globe.

Step 2: Wait for a reaction.

Since that ruling, Venezuela has responded by threatening to cut off oil supplies to the West and moved troops to the Colombian border, one of America’s best friends. They also continued to fight Exxon’s legal claims in court.

Today, a London court ruled in Venezuela’s favor. The assets were unfrozen and Hugo Chavez acheived a clear victory.

Step 3: Keep the legal challenge going and look up Blackwater’s phone number.