Chavez, with eyes on his 2012 re-election bid, hikes oil windfall tax

Monday, April 25th 2011 - 06:59 UTC

Full article 9 comments

Venezuelan President Hugo Chavez hiked an oil windfall tax in a move that raises government income ahead of the 2012 presidential election, but puts a heavy load on oil companies. Read full article

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GeoffWard
Well, Windfall Tax at 95% . . . . and ONLY 80% when there is no Windfall!

Makes you wonder why companies still want to do business in this extortionating little dictatorship.
Apr 26th, 2011 - 12:11 am - Link - Report abuse 0
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Think
Money?
Apr 26th, 2011 - 02:01 am - Link - Report abuse 0
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GeoffWard
I think it's residual profit rather than money.
Still, at 5-20% after tax depending on the price of Brent (?) Crude, then minus costs, there must be better places for shareholders to 'turn a buck'.
Apr 26th, 2011 - 10:09 am - Link - Report abuse 0
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Think
They are free to go..............
Apr 26th, 2011 - 06:30 pm - Link - Report abuse 0
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GeoffWard
You speak as if you are in favour of complete (?) state nationalisation.

If this is, in fact, true, it makes much sense of the seeming illogicalities I have picked up in our conversations.

I have been talking 'forms of democracy', perhaps you have been talking 'forms of socialism/communism'.

Or perhaps I am ascribing a philosophy where there is none.
Apr 26th, 2011 - 09:50 pm - Link - Report abuse 0
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Think
“Economic Democracy”
I have mentioned those words more than once inmany of my texts......
Some people can't or won't read.....
http://en.wikipedia.org/wiki/Economic_democracy
Apr 27th, 2011 - 02:10 am - Link - Report abuse 0
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GeoffWard
Read it;
much about what it is against but little coherence about what it is.

I have some small idea about what you DON'T believe in,
but what DO you believe in? -

the old Soviet model of Economic 'Democracy' = communism? or
the Chavez model of Economic 'Democracy'? or
the Castro model of Economic 'Democracy'? or
the Chinese model of Economic 'Democracy'?

or perhaps
your own model of Economic 'Democracy'? - which is . . . . ?
Apr 27th, 2011 - 10:10 am - Link - Report abuse 0
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Think
..... something like this:

http://www.social-europe.eu/2011/04/economic-democracy-an-idea-whose-time-has-come-again/
Apr 27th, 2011 - 05:02 pm - Link - Report abuse 0
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GeoffWard
Think.
Read it:
I got a warm echo of recognition from my London student days in the 60s. and then it all went wrong when the unions and the establishment decided to trade serious punches.

I see now where your Unasur ideals come from. So much we agree with re the end point but so different the routes.

Nationalism could well be the undoing - especially with such disparities of size and 'power'.
This is why little Uruguay and bigger Colombia could be big players; it is not by accident that the EUs Brussels is located in a 'minor' country.

Will be interested in re-visiting this when I have more time.
Geoff.
Apr 27th, 2011 - 10:32 pm - Link - Report abuse 0
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