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Central IA | Chevron (and I think ConocoPhillips) developed almost all the oil’s production in Venezuela long ago. When Venezuela was the richest S. American country. (You had to wear slacks and dress shirt to be allowed in mall in Caracas).
When Chavez was elected he nationalized all the oil. That’s just a way of saying seized. Without compensation. The lawsuits have been hung up in world court for years. In courts that really never want to award US companies. So yes, could, and should, be a windfall for those companies. | |
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chevron stock
