Reply #7: It's downright shocking. They've been getting it for almost NOTHING. [View All]

[Judi Lynn]

Rape is an appropriate description for what has been going on all this time. Hope Latin America finds a way to block this long-lived criminal behavior/custom by certain enormous companies and their allies within the American right-wing.

Here's more about Exxon vs. Venezuela from today:

Venezuela, Exxon Mobil to review royalty hike
Thu Mar 3, 2005 12:49 PM ET
CARACAS, Venezuela, March 3 (Reuters) - Venezuela's government will meet with U.S. oil major Exxon Mobil Corp. (XOM.N: Quote, Profile, Research) to discuss last year's decision to increase royalties paid by foreign oil firms involved in heavy-crude upgrade ventures, Exxon Mobil said Thursday.
Venezuelan President Hugo Chavez last October ended a tax holiday for four foreign-financed multibillion-dollar ventures with state oil firm PDVSA, including the Mobil Cerro Negro project, which Exxon Mobil operates.
"The Ministry of Energy has agreed to meet with us to discuss our concerns on the royalty rate change. We reiterate that we wish to achieve an amicable solution to the issue," Mobil Cerro Negro said in a statement.
Exxon Mobil did not say when the meeting would take place, but added that officials hoped discussion would start soon.

Venezuelan Energy Minister Rafael Ramirez has said the increase in royalties, which ended a tax holiday put in place when the joint-venture contracts were signed in the 1990s, was legal and not negotiable. He said the government would meet with Exxon Mobil to discuss the change, however.
(snip/...)

http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh17525_2005-03-03_17-49-18_n03275805_newsml



Venezuela's Energy Minister
Rafael Ramirez

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