hahaha...moron from Caracas :)

[Wagner]

Originally Posted by Eric5273

It wasn't like that at all. The taxes were a percentage of profits. If it was how you say, then none of the oil companies would have stayed. But many of them did.

Many of them stayed, yup, that is why they are searching for companies now..because of that vast amount that stayed

Socialism = Failure...failed then, fails still, always has, always will

[Eric5273]

http://www.iht.com/articles/ap/2007/...ezuela-Oil.php

Oil companies see risks in Venezuela but face few alternatives, analysts say
June 26, 2007
The Associated Press

CARACAS, Venezuela: Exxon Mobil Corp. and ConocoPhillips have decided the profits are not worth the risk of staying in Venezuela and are writing off multibillion-dollar investments in the South American country.

"The risks are clearly there and growing in Venezuela," said Patrick Esteruelas, an analyst at the New York-based Eurasia Group. "But when compared to other nations, there are still sizable and substantial opportunities."

Under Chavez, Venezuela first raised royalty and tax rates, then later assumed majority control of all oil projects as part of a larger nationalization drive of "strategic" economic sectors. Chavez says those policies are ensuring that oil benefits Venezuelans instead of foreign corporations and governments.

Rising energy prices and Venezuela's huge oil deposits have strengthened his hand: the country's reserves are the largest in the Western Hemisphere and may eventually prove bigger than Saudi Arabia's if it continues certifying heavy oil deposits in the Orinoco River region.

Chevron Corp., Britain's BP PLC, France's Total SA and Norway's Statoil ASA — unwilling to forgo that opportunity — agreed Tuesday to stay on as minority partners in new joint ventures controlled by state-run Petroleos de Venezuela SA, or PDVSA.

But Exxon Mobil and ConocoPhillips broke ranks, rejecting the terms, effectively writing off their investments in the Orinoco and any future chance at tapping its potential. It remains unclear how the companies will be compensated.

In Venezuela, the terms are now relatively clear: By law, private companies can take as much as a 49.9 stake in oil production projects and they face flat income tax and royalty rates of 50 percent and 33.3 percent, respectively.





4 out of 6 certainly qualifies as "many" or "most".

[Wagner]

not sure what you're proving, that they left?

That the two biggest in the world left, the others want viable market share?

Exxon Mobil Corp. and ConocoPhillips have decided the profits are not worth the risk of staying in Venezuela and are writing off multibillion-dollar investments in the South American country.

[X5rolls]

You got that right.

Originally Posted by Wagner

Socialism = Failure...failed then, fails still, always has, always will

[Eric5273]

Originally Posted by Wagner

Socialism = Failure...failed then, fails still, always has, always will

Depends on what you consider a success. If having a few wealthy people with 99% of the wealth, and everyone else with nothing is considered a success, then socialism is indeed a failure. If having several million homeless people is considered a success, then socialism is indeed a failure. If 15% of your population having no access to health care is considered a success, then socialism is indeed a failure.

[Wagner]

Originally Posted by Eric5273

Depends on what you consider a success. If having a few wealthy people with 99% of the wealth, and everyone else with nothing is considered a success, then socialism is indeed a failure.

And in what instance is that true? Again...socialism...failure...just look around the globe right now. Everyone is STILL hoping the Capitalist market will pull the world from deep recession. Sure aren't yelling "hey France, bail us out"

[Eric5273]

I think you should start a movement to privatize the fire department and the police department since you are against socialism. Just think of how much more productive they would be if they were in the private sector and were motivated by profit.

[Wagner]

Originally Posted by Eric5273

I think you should start a movement to privatize the fire department and the police department since you are against socialism. Just think of how much more productive they would be if they were in the private sector.

blah blah blah...you always go back to that when every other aspect of your, excuse me, the socialist agenda is slapped down.

More of your "all or nothing" approach...go Utopia..worked out great so far Face is, socialism...is a failure. Very little is beneficial about it. Theory is great, practice sucks.

[Eric5273]

Originally Posted by Wagner

blah blah blah...you always go back to that when every other aspect of your, excuse me, the socialist agenda is slapped down.

More of your "all or nothing" approach...go Utopia..worked out great so far Face is, socialism...is a failure. Very little is beneficial about it. Theory is great, practice sucks.

Venezuela certainly is not an "all or nothing" approach. They are 90% capitalist and have only nationalized a few industries including the oil industry. Europe has more socialism than Venezuela.

If the police department and fire department work so well under socialism, then why not the oil industry? American oil companies took in more than $130 billion in profits last year. That money would sure look very nice in the form of a tax refund check to every American, the same way they do it in Alaska and in Venezuela.

Alaska is part of the United States, right? How come no outrage about their socialized oil industry being a failure? Maybe it's not actually a failure?

[Wagner]

Um, ah, you lost me....what are you talking about? Have you accepted my socialist failure approach? Sound like it. If so, good job by you. First step is admitting you have a problem

As we (i.e. you and I) have gone around before, many areas of the US are NOT like New York. MD for instance has volunteer FD's. And I would never claim they are run with tremendous success

Why should oil companies share their profits? Do you write them a check every year to help R&D? Don't think so. You pay for what you use.