Time for Francisco d'Anconia

Update from Venezuela:

Even Chavez's own energy officials are getting nervous "¦

Last week, for the 10th time, Chavez announced his plan to
confiscate four Orinoco Belt extra-heavy-oil projects run by six
Western companies"¦

Rather than allow Chavez's state oil company to become the
majority partner in its investment, Exxon could"¦ just walk away - a
possibility that's keeping Venezuelan energy officials up at night.

Rather than let its Cerro Negro operation be turned into a
Chavista workers collective, with Exxon there to pay the bills and
provide the technology and its workers suddenly state employees, Exxon
could just pull out"¦

Courtesy of TJIC, who suggests a similar approach but from a different fiction source.

2 Comments

  1. Xmas:

    I heard the following story on an NPR station last Thursday:

    http://marketplace.publicradio.org/shows/2007/03/01/PM200703015.html?refid=0

    I was listening to it in shock and disbelief. I'm not an economist, but I'd like to think that Milton Friedman was right in saying that the root cause of inflation is simply the government printing more and more money.

  2. Ben:

    Or perhaps Wyatt oil? 🙂