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Tags: Commodities, Oil, William Patalon III

Venezuela Says "Adios" to Most Foreign Investment, Making it a Stay-Away Play for Investors

By William Patalon III, Executive Editor, Money Morning • June 29, 2007

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William Patalon IIIWilliam Patalon III

By unilaterally stripping away the Venezuelan oil holdings of both Exxon Mobil Corp. and ConocoPhillips, Venezuela President Hugo Chavez has essentially bid adios to future investments by foreign corporations.

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William Patalon IIIWilliam Patalon III

About the Author

Browse William's articles |

Before he moved into the investment-research business in 2005, William (Bill) Patalon III spent 22 years as an award-winning financial reporter, columnist, and editor. Today he is the Executive Editor and Senior Research Analyst for Money Morning at Money Map Press.

… Read full bio

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[…] in the false recovery of Argentina, the total disasters of Venezuela, Bolivia and Ecuador, and the sad, gradual backsliding in Chile, and you can see why many investors […]

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[…] its thuggish approach and expensive military machine, is likely to run out of money quite quickly. As with Venezuela, foreign investors will then be the most obvious people to […]

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[…] demonstration was a pointed reminder of a 2007 incident, which is still playing out in the international courts. Two years ago, Venezuela forced six oil […]

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[…] Think of it this way: If you were the Brazilian president trying to keep pace with your country's ravenous energy consumption, would you rather buy natural gas from neighboring Bolivia or negotiate with Hugo Chavez in Venezuela?  […]

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[…] TO BE AVOIDED: Iran (sanctions and buyback contract frustrations), Mexico (collapsing infrastructure and nationalization), Venezuela (significant technical shortcomings, concerns over productivity assessments, and absence of Western operators). […]

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[…] back in 1957; the country was badly run even before Hugo Chavez came to power in 1998. These days, every foreign company is liable to be nationalized. Avoid. Brazil: This was well run in the 1990s, but entered a crisis in 1998-2002, which led to […]

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