Venezuela leaving World Bank's arbitr...

Venezuela leaving World Bank's arbitration body

There are 3 comments on the KRMG-AM Tulsa story from Jan 25, 2012, titled Venezuela leaving World Bank's arbitration body. In it, KRMG-AM Tulsa reports that:

Venezuela has formally begun its withdrawal from a World Bank-affiliated arbitration body, the government announced Wednesday, in a decision made by President Hugo Chavez as cases have accumulated against the country's seizures of companies and their assets.

Join the discussion below, or Read more at KRMG-AM Tulsa.

Dwight Baker

Eagle Pass, TX

#1 Jan 26, 2012
Does any think that this is a NEW THING?
By Dwight Baker
[email protected]
January 26, 2012

ARTICLE
Venezuela leaving World Bank's arbitration body
http://www.journaltimes.com/news/world/venezu...

EXCERPT
Chavez and his allies say that disagreements with foreign companies operating in Venezuela should be settled with local authorities and within its judicial system.
Diego Moya-Ocampos, an analyst with the IHS Global Insight consulting firm in London, said Venezuela's withdrawal from the center would not affect pending cases.
But he said the move could scare off foreign investors, particularly oil companies with potential interest in forming joint ventures with the state-run oil firm Petroleos de Venezuela in the Orinoco Oil Belt, which holds vast deposits of extra-heavy crude.
Studies confirming those deposits in a swath flanking the Orinoco River have allowed Venezuela to surpass Saudi Arabia as the nation with the world's biggest proven reserves, according to the Organization of Petroleum Exporting Countries.
Since taking office in 1999, Chavez has ordered the takeover of hundreds of properties, including major international investments as well as cattle ranches, farms and, recently, parking lots and junkyards to pave the way for public housing projects.
Russ Dallen, a financial analyst in Caracas, also said Venezuela's decision would probably spook many potential investors.
MY TAKE
Chaves is not the only President in the lower Americas that have this same imperalist distrust of the IMF hanging over their heads.
Bolivia Looks To Lithium To Foster Industrial Economy
http://www.redorbit.com/news/science/1646919/...

Bolivian President Evo Morales believes that lithium – the world’s lightest metal with half the density of water – may help turnaround the poor landlocked nation, which has roughly half of the world’s proven lithium reserves.

Lithium is used in batteries that power cell phones, laptops, iPods and other devices. Many believe lithium batteries will ultimately power thousands of hybrid and electric vehicles

President Morales also wants lithium batteries manufactured in Bolivia, and even hopes to ultimately assemble battery-powered cars.

"We don’t even manufacture a pin here," Mining Minister Freddy Beltran told The Associated Press.

"It’s a story that must change."
Morales has secured for Bolivians the bulk of profits from their natural gas since his election in 2005. The nation contains South America’s second-largest known deposits after Venezuela’s.Â

And Morales now sees lithium as a way to foster an industrial economy.
Considering these challenges, Bolivians shouldn’t ask too much of foreign partners, according to Bolivia-based metals analyst Juan Carlos Zuleta.

"The people could exaggerate their demands and that could, in the end, lead to the business going elsewhere," he told the AP.

FINALLY

Thus, the lower Americans have been hard charged by the super wealthy for a very long time. Their current threats are idle if Chaves and Morales hold fast to serving the greater needs of the people in their soverign nations.
Dwight Baker

Eagle Pass, TX

#2 Jan 26, 2012
Does any think that this is a NEW THING?#1
By Dwight Baker
[email protected]
January 26, 2012

ARTICLE
Venezuela leaving World Bank's arbitration body
http://www.journaltimes.com/news/world/venezu...

EXCERPT
Chavez and his allies say that disagreements with foreign companies operating in Venezuela should be settled with local authorities and within its judicial system.

Diego Moya-Ocampos, an analyst with the IHS Global Insight consulting firm in London, said Venezuela's withdrawal from the center would not affect pending cases.

But he said the move could scare off foreign investors, particularly oil companies with potential interest in forming joint ventures with the state-run oil firm Petroleos de Venezuela in the Orinoco Oil Belt, which holds vast deposits of extra-heavy crude.

Studies confirming those deposits in a swath flanking the Orinoco River have allowed Venezuela to surpass Saudi Arabia as the nation with the world's biggest proven reserves, according to the Organization of Petroleum Exporting Countries.
Since taking office in 1999, Chavez has ordered the takeover of hundreds of properties, including major international investments as well as cattle ranches, farms and, recently, parking lots and junkyards to pave the way for public housing projects.

Russ Dallen, a financial analyst in Caracas, also said Venezuela's decision would probably spook many potential investors.
Dwight Baker

Eagle Pass, TX

#3 Jan 26, 2012
Does any think that this is a NEW THING?#2
MY TAKE
Chaves is not the only President in the lower Americas that have this same imperalist distrust of the IMF hanging over their heads.
Bolivia Looks To Lithium To Foster Industrial Economy
http://www.redorbit.com/news/science/1646919/...

Bolivian President Evo Morales believes that lithium – the world’s lightest metal with half the density of water – may help turnaround the poor landlocked nation, which has roughly half of the world’s proven lithium reserves.

Lithium is used in batteries that power cell phones, laptops, iPods and other devices. Many believe lithium batteries will ultimately power thousands of hybrid and electric vehicles

President Morales also wants lithium batteries manufactured in Bolivia, and even hopes to ultimately assemble battery-powered cars.

"We don’t even manufacture a pin here," Mining Minister Freddy Beltran told The Associated Press.

"It’s a story that must change."
Morales has secured for Bolivians the bulk of profits from their natural gas since his election in 2005. The nation contains South America’s second-largest known deposits after Venezuela’s.Â

And Morales now sees lithium as a way to foster an industrial economy.
Considering these challenges, Bolivians shouldn’t ask too much of foreign partners, according to Bolivia-based metals analyst Juan Carlos Zuleta.

"The people could exaggerate their demands and that could, in the end, lead to the business going elsewhere," he told the AP.

FINALLY

Thus, the lower Americans have been hard charged by the super wealthy for a very long time. Their current threats are idle if Chaves and Morales hold fast to serving the greater needs of the people in their soverign nations.

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