Lower Oil Prices Force Venezuela's Chavez To Let West Make Oil Bids as Prices Plunge
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But First Snide's Remarks: Just imagine how wonderful the world will be when oil sells for what its worth 2 bucks a barrel, then oil despots won't have a pot to piss in, or our money to fund the terrorists of our world. Come on free world lets get off of gasoline for our transportation and the world will become a better place in most ways... what do you think? msnide@theautochannel.com
By Simon Romero writing for the New York Times
CARACAS, Venezuela January 14, 2009 — President Hugo Chávez, buffeted by falling oil prices that threaten to damage his efforts to establish a Socialist-inspired state, is quietly courting Western oil companies once again.
Until recently, Mr. Chávez had pushed foreign oil companies here into a corner by nationalizing their oil fields, raiding their offices with tax authorities and imposing a series of royalties increases.
But faced with the plunge in prices and a decline in domestic production, senior officials have begun soliciting bids from some of the largest Western oil companies in recent weeks — including Chevron, Royal Dutch/Shell and Total of France — promising them access to some of the world’s largest petroleum reserves, according to energy executives and industry consultants here.