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EducateWorthington.org

The 912 Project - Glenn Beck

912 Group of Central Ohio

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A federal judge in Manhattan confirmed the freezing of $300 million in cash held by Venezuela's state-run oil company, finding it probable that Exxon Mobil Corp. will succeed in its legal battle against the company. The order came in a case in which Irving, Texas-based Exxon Mobil has battled the oil company over the nationalization of its Venezuelan oil ventures.

Oil futures rose moderately as traders shrugged off a mixed government inventory report and focused on the economy and threats to crude supplies overseas, particularly Venezuelan President Hugo Chavez's threat to cut off oil sales to the U.S. Light, sweet crude for March delivery rose 49 cents to settle at $93.27 in New York.  

Compassionate Socialists like Joe Kennedy

By Tom Deweese
Saturday, February 16, 2008

You’ve seen his face on TV telling us about “our good friends in Venezuela” who provide reduced-price heating oil for the poor. Joe shares heart-rending stories of how his wonderful partnership with South American strongman Hugo Chavez has helped so many downtrodden Americans. It’s all so warm and loving and special. Isn’t Socialism compassionate?

Now for the reality. Hugo Chavez is a communist who is quickly turning Venezuela into a prison nation. He has destroyed freedom of the press, nationalized major privately companies, almost got away with ending elections so he could become “His Majesty.”

A recent State Department report said the human rights situation in Venezuela for 2006 was characterized by “politicization of the judiciary and harassment of the media and the political opposition”. The report said the human rights violations in Venezuela included unlawful killings, disappearances reportedly involving security forces, torture and abuse of detainees, harsh prison conditions, arbitrary arrests and detentions, and attacks on the independent media.

The Organization of American States (OAS) also filed a report on the joys of living in Chavez’ compassionate workers paradise. Said the OAS Report, it was concerned about the administration of justice in that country, the problem of sicariato (paid killings) and the “impunity that surrounds reports of extrajudicial executions at the hands of agents” of the Venezuela government. More than 6,370 people were victims of homicides committed between 2000 and 2005 by the “agents” of Venezuelan state security forces.

complete article

Venezuela Settles With Oil Firms

The Venezuelan government has paid $1.8bn (£900m) in compensation to French, Norwegian and Italian oil firms after it nationalised key oil fields.

The move isolates US oil firm Exxon Mobil in its dispute with the country.

Exxon is seeking $12bn in compensation from Venezuela's state energy group, PDVSA, after its interests were nationalised last year.

Venezuela has accused the US oil giant of exaggerating the value of the firm's former investments in the country.

It said that Exxon's former interests were worth just $1.2bn.

France's Total, Norway's Statoil and Italy's ENI agreed to the settlement after accepting the book price for the assets that PDVSA took over.

Total accepted $834m, ENI accepted $700m and Statoil received $266m, France's AFP news agency reported.

In 2006, Venezuela enacted a law forcing foreign oil companies to give PDVSA at least a 60% share in their Venezuelan operations.

complete article

The Chavez Democrats

March 10, 2008;
Page A14

What is it about Democrats and Hugo Chávez? Even as the Venezuelan strongman was threatening war last week against Colombia, Congress was threatening to hand him a huge strategic victory by spurning Colombia's free trade overtures to the U.S.

This isn't the first time Democrats have come to Mr. Chávez's aid, but it would be the most destructive. The Venezuelan is engaged in a high-stakes competition over the political and economic direction of Latin America. He wants the region to follow his path of ever greater state control of the economy, while assisting U.S. enemies wherever he can. He's already won converts in Bolivia and Ecuador, and he came far too close for American comfort in Mexico's election last year.

Meanwhile, Colombian President Álvaro Uribe is embracing greater economic and political freedom. He has bravely assisted the U.S fight against narco-traffickers, and he now wants to link his country more closely to America with a free-trade accord. As a strategic matter, to reject Colombia's offer now would tell everyone in Latin America that it is far more dangerous to trust America than it is to trash it.

Yet Democrats on Capitol Hill are doing their best to help Mr. Chávez prevail against Mr. Uribe. Even as Mr. Chávez was doing his war dance, Senate Finance Chairman Max Baucus was warning the White House not to send the Colombia deal to the Hill for a vote without the permission of Democratic leaders. He was seconded by Ways and Means Chairman Charlie Rangel, who told Congress Daily that "they don't have the votes for it, it's not going to come on the floor," adding that "what they [the White House] don't understand it's not the facts on the ground, it's the politics that's in the air."

Mr. Rangel is right about the politics. No matter what U.S. strategic interests may be in Colombia, this is an election year in America. And Democrats don't want to upset their union and anti-trade allies. The problem is that the time available to pass anything this year is growing short. The closer the election gets, the more leverage protectionists have to run out the clock on the Bush Presidency. The deal has the support of a bipartisan majority in the Senate, and probably also in the House. Sooner or later the White House will have to force the issue.

complete article