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June 23, 2007
Al Jazeera: Hugo Chavez threatens expropriation
Christopher Alleva
Al Jazeera is reporting that Venezuelan strong man Hugo Chavez is threatening to expropriate oil and gas assets of Exxon Mobil, ConocoPhillips, Chevron Corp, Norway's Statoil, Britain's BP Plc and France's Total. According to Al Jazeera these assets produce 600,000 barrels of crude oil a day.
This threat has been looming for sometime. Highlighting how negligent lawmakers have been is the embarrassing fact that Chavez's actions were never mentioned during the debate the last two weeks in Senate on the so-called energy bill.
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