MercoPress. South Atlantic News Agency

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  GeoffWard

  I am aware that deals have to be done if a company is to secure access to resources in a nations territory, because there is competition and if there is no Deal, other companies from other nations will step in to win the contract at whatever 'price' is deemed worthwhile.
  
  This is the bottom line in the BAE-Saudi armaments deal that Tony Blair has gone out of his way to keep from public inspection.
  
  If a company falls out with a dictator in a country like Nicaragua, the President can and will take over the company's assets in that country.
  
  If a company is 'leant on' to provide financing for the ruling parties and their leaders (Mensalao), it is hard for a company to say no, for the same reason.
  
  If a company has 'political' senior management put in place by the Government - like with Petrobras - it is hard for the company to say no, for the same reason.
  
  If a company's political management force the largest share issue in the world, and the Government buys up the great majority of the shares using taxpayer's money (thereby controlling the company and the diversion of its profits), it is hard for the company to say no, for the same reason.
  
  I believe much more in the integrity of the companies than in the integrity of the leaders of the countries in which they operate.
  
  This sort of institutionalised corruption, fraud, theft, and abuse & mainenance of power is all too prevalent in the oil-rich nations of the world - not least in Latin America.
  
  New sector agreements should be introduced to make it mandatory that companies declare their data BY COUNTRY, so we can see the offending parties (governments and, thereby, officials) and force them to tidy up their corrupt practices.

  Mar 02nd, 2011 - 12:25 pm - Link - Report abuse 0
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